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(单词翻译:双击或拖选)
Is Investing in Africa a Good Bet?
Many sub-Saharan countries have had sustained economic growth despite the global recession. But conflict, political instability and weather extremes in some areas may keep investors2 away. At the World Economic Forum3 in Davos, Switzerland, African leaders and others talked about what’s being done to make the continent more attractive to investors.
From the start, those on the panel questioned the title, De-risking Africa. South African president Jacob Zuma said, “I’ve been questioning myself about the topic. De-risking Africa. Is Africa risky4 more than any other region of the world? Somebody will have to explain to me because it looks like there’s a perception about Africa which needs to be dealt with.”
Mr. Zuma said that he takes issue with that perception, adding that many African leaders have taken measures to ensure stability in their countries.
“African leaders have collectively come together to do things that [are] going to make Africa to move forward. We have collectively dealt with the issue of democracy in the continent of Africa. We are entrenching5 democratic rule. We have taken a decision to grow our infrastructure6; to grow our intra-trade. We are moving to integrate the five economic regions in the continent,” he said.
Nigerian president Goodluck Jonathan agreed that overall, the continent has become much more stable politically and economically.
“Before this time, the growth rate has been stagnant7, just as Zuma said. But over the period the growth rate of a number of African countries is significantly above the world average. Countries like, of course, Ethiopia, Ghana, Niger, Liberia, though they are small economies. But in terms of growth it’s quite significant. That shows a focus and a promise,” he said.
Mr. Jonathan was asked whether Nigeria is vulnerable to global economic shocks because it relies so heavily on one commodity – oil.
“Any country that depends on one major commodity – it’s a big risk because anything that affects the oil production or the global oil price – it affects us. Of course that is one aspect. And that is why we are looking to different areas,” he said.
These include agriculture and minerals.
“We have the potential,” he said.
He added that the opportunity for Nigeria to diversify8 its economy is due to political stability after years of political turmoil9, including military rule.
Sunil Bharti Mittal, president and CEO of the Indian firm Bharti Enterprises and co-chair of the India-Africa Business Council, took part in the discussion. His company provides mobile telecommunication10 services.
“I think the African continent and most of the nations welcome foreign investment. When I moved in three years back, I was amazed at the welcome we received in every country, including Nigeria. In Nigeria of late we see a lot of stress in the upper north, where Boko Haram had been targeting cell sites, switching centers. And the support that we have received from the government has been tremendous. Security has been beefed up. People have been reassured11, especially foreigners who are working there. And that’s what counts in the end,” he said.
Mittal said that it only took about 80 days to get a mobile operation up and running in Rwanda.
“Will Africa have issues from time to time which will scare investors, which will worry investors? That’s a fact of life. There are some pockets – a new one developing in Mali now, upper Nigeria, some of the parts of Congo and the northwestern border. Issues will be there. But investors go with their eyes open. The opportunity is big. The prize to be won in the end is very big and the growth is there. At the end of the day, all emerging markets offer growth. But today really the last bastion of big growth is the African continent,” he said.
Among those concerned about security in Africa is Louise Arbour, head of the International Crisis Group and former chief prosecutor12 of the International Criminal Tribunals for the Former Yugoslavia and Rwanda. She said that despite Africa’s economic growth, many leaders and regional economic groups are devoting more of their time and attention to resolving conflict. Those driving factors include competition for resources, organized crime, radical13 Islamist militias14 and piracy15 off the Somali coast and in the Gulf16 of Guinea.
“Behind these ostensible17, sort of, conflict drivers I think there’s a commonality of issues that the continent still is struggling to address. I think the first one is issues of governance. Most importantly, political and economic exclusion18. And finally, still very weak institutions. So to varying degrees, in varying countries, these underlying19 issues, I think, continue to pose a very, very serious challenge,” she said.
The company SABMiller has been operating breweries20 in South Africa for more than a hundred years. And since the end of apartheid in 1994, it has branched out to other African countries.
Chairman Graham Mackay said, “In my perspective, it’s not so much a question of de-risking. It’s taking the brakes off what is already remarkable21 economic progress by removing some of the bottlenecks22. I don’t know of any part of Africa where we could have invested because we thought there was demand and didn’t for risk factors. We were the first investor1 into South Sudan, I think, of any kind. Great big brewery23 there next to Juba just after independence.”
He said that the South Sudan brewery has more than doubled in size since it opened. Mackay also said there are hundreds of millions of people coming into Africa’s cash economy, who are looking for quality goods.
“We don’t hold back on investment because of risk factors. We invest as we think the markets can grow,” he said.
But there are ongoing24 issues threatening stability in some regions, such as the conflict in Mali. Nigerian president Jonathan says the terrorists and extremists must be contained and he thanks France for its intervention25. International Crisis Group’s Louise Arbour says the situation in Mali has already destabilized the region and fears militarization could take on a life of its own.
In South Africa, President Zuma acknowledged that violent labor26 disputes and strikes have been a problem, both socially and economically. But he said those issues are being addressed through better bargaining agreements.
Rwandan president Paul Kagame, who was in the audience, said there is often a misperception about Africa because its history is written by non-Africans. He said that it’s time for Africans to write their own story.
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1
investor
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| n.投资者，投资人 | |
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investors
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| n.投资者，出资者( investor的名词复数 ) | |
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forum
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| n.论坛，讨论会 | |
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risky
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| adj.有风险的，冒险的 | |
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entrenching
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| v.用壕沟围绕或保护…( entrench的现在分词 )；牢固地确立… | |
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infrastructure
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| n.下部构造，下部组织，基础结构，基础设施 | |
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stagnant
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| adj.不流动的，停滞的，不景气的 | |
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diversify
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| v.（使）不同，（使）变得多样化 | |
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turmoil
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| n.骚乱，混乱，动乱 | |
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telecommunication
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| n.电信，远距离通信 | |
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reassured
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| adj.使消除疑虑的；使放心的v.再保证，恢复信心( reassure的过去式和过去分词) | |
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prosecutor
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| n.起诉人；检察官，公诉人 | |
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radical
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| n.激进份子，原子团，根号；adj.根本的，激进的，彻底的 | |
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militias
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| n.民兵组织，民兵( militia的名词复数 ) | |
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piracy
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| n.海盗行为，剽窃，著作权侵害 | |
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gulf
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| n.海湾；深渊，鸿沟；分歧，隔阂 | |
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ostensible
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| adj.(指理由)表面的，假装的 | |
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exclusion
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| n.拒绝，排除，排斥，远足，远途旅行 | |
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underlying
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| adj.在下面的，含蓄的，潜在的 | |
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breweries
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| 酿造厂，啤酒厂( brewery的名词复数 ) | |
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remarkable
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| adj.显著的，异常的，非凡的，值得注意的 | |
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bottlenecks
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| n.瓶颈( bottleneck的名词复数 )；瓶颈路段（常引起交通堵塞）；（尤指工商业发展的）瓶颈；阻碍 | |
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brewery
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| n.啤酒厂 | |
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ongoing
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| adj.进行中的，前进的 | |
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intervention
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| n.介入，干涉，干预 | |
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labor
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| n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦 | |
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