Foreign exchange specialists Currencies Direct know better than most the countries that are outperforming the global average in terms of economic growth. Not only does it offer a currency exchange service using the latest exchange rates it also offers advice to consumers and businesses about buying abroad and making frequent international payments. It is well placed to advise on which countries in Africa offer the best investment potential and it aims to highlight the benefits of investing in this growing region.
Currencies Direct points to a recent estimate from the International Monetary Fund (IMF) which states growth across the 54 countries of the African continent will stand at approximately 6% in 2012. Africa is the second fastest growing economy in the world and as investment continues to pour in it will go on bucking the global trend for slumps and stagnation through positive and successful growth. Infrastructure is improving, the population is becoming more educated and the purchasing power of the rapidly expanding middle classes is swelling. Currencies Direct highlights findings from the McKinsey Global Institute that estimate consumer spending throughout Africa will surpass the $1 trillion mark in 2013, stating this will offer massive potential to investors. Agriculture, tourism, mining, infrastructure and fast moving consumer goods are tipped to be the best investment opportunities by Forbes. Currencies Direct notes that oil is no longer the best investment opportunity; investment in more efficient farming methods, green tourism, mining for zinc, tin and lead, improving road, railway and power systems and bringing consumer goods to the masses are going to the be the money makers of the next decade or so. Countries that are attracting investment include Ethiopia, Malawi, Rwanda, Uganda and Mozambique. These countries are also drawing investment from within the African continent from wealthier nations such as South Africa and Egypt. Currencies Direct can help facilitate investment in these markets through its dollars to pounds exchange rate – the common currency throughout Africa is the US dollar – it also facilitates online payments in international currencies, property purchases and it offers advice on moving money when emigrating.
Source: Digital Journal.Com – Press release – 8 August 2012