Buss: Long-term investments key for sustainable development in Africa
The Chief Executive of Absa International, Cheryl Buss, says despite increased interest in investment and trade on the continent, opportunities in key sectors such as energy, agriculture and Artificial intelligence need to be harnessed. In a chat with CNBC Africa, she notes the constrained fiscal environment remains a challenge while stressing long term investments are key to support sustainable development.
Mon, 26 Feb 2024 11:11:07 GMT
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AI Generated Summary
- Significant investment opportunities exist in the transition to clean energy in Africa, under the principles of ESG and COP28, with a focus on societal development and just transition.
- The development of local supply chains within sectors like energy, infrastructure, and agriculture is crucial for promoting self-sufficiency and reducing reliance on imports.
- Africa is attracting interest from various regions around the world, including China, the Middle East, the UK, the EU, and the US, as part of a broader geopolitical environment seeking opportunities for cooperation and investment.
The Chief Executive of Absa International, Cheryl Buss, emphasized the importance of long-term investments for sustainable development in Africa during a recent interview at the World Economic Forum in Davos. Buss highlighted the growing interest in investment and trade opportunities on the continent, particularly in key sectors such as energy, agriculture, and artificial intelligence. Despite the potential for growth, she acknowledged the challenges that come with these opportunities and the need to address them effectively. Buss also discussed the significance of harnessing Africa's resources for the global transition to clean energy and the development of local supply chains to promote self-sufficiency. Furthermore, she pointed out the increasing interest in Africa from regions such as China, the Middle East, the UK, the EU, and the US, underscoring the geopolitical motivations behind this attention and the potential for mutual benefits for both Africa and its international partners.
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