Africa holds the largest opportunities for investment and business over the next century.[hidepost=9][/hidepost]
This according to Chris Kirubi, chairman of Kenya-based Haco Industries and Capital Group, during a discussion entitled Unbundling the continent: New strategies for sustainable growth in Africa at the Global Forum in Cape Town on Saturday.
Kirubi said that his investments in Africa are performing much better than those in other parts of the world. “I have my investments in the western world through Geneva. When I make 7% return, they write to me and say, ‘you’ve done very well’. I have investments in Greece, where I have already lost 30% to 40% of my investments. My investment in East Africa doubles every year.”
Kirubi added that one of the biggest issues facing Africa is the negative perceptions about the continent held by foreigners.
He said that the world’s major decision makers look at Africa and think it is a “hopeless continent”.
Haco Industries is one of the leading fast moving consumer goods companies in the East Africa, dealing in products such as stationery, shavers, and personal care and household hygiene items.