Managing director of DHL Express Sub-Saharan Africa Hennie Heymans recently said his company believes the African continent is still ripe for investment and growth potential despite recent economic downturns.
This comes after the World Bank released its 2016 Global Economic Prospects that reported Sub-Saharan Africa’s real Gross Domestic Product (GDP) grew at its lowest rate since 2009.
“The drop in GDP growth for the region over the past year shouldn’t deter investors. Africa will continue to thrive, albeit, at a slightly slower pace as previously experienced,” Heymans said.
He noted that the tough year in Africa economically was similar to the global economy. There was a slight drop in the demand for commodities produced on the continent, but the region remains full of untapped resources and offers growth potential for those willing to look for them.
Heymans believes each African nation offers unique opportunities for investors and businesses.
“For example, in Ethiopia, the telecommunications sector is a large contributor to GDP,” Heymans said. “It was reported that the country had 40 million mobile subscribers and 10 million Internet connections in 2015. However, with a population of over 90 million, the sector has capacity to double its contribution to GDP.”
He noted that DHL Express will continue to invest in the region.