Tuesday, September 6, 2011

British: Africa's growth next 30 years will surpass India and Brazil combined

THE City of London is convinced Africa’s growth potential in the next 30 years will outstrip that of India and Brazil combined, and that UK business should start planning for about 750-million middle-class Africans by 2040.

This goes a long way towards explaining why the visit to SA by Michael Bear, the 683rd lord mayor of the City of London, focused not only on showcasing the financial power of his constituency — which is what his day job is all about — but also the promotion of British construction companies eyeing SA’s infrastructure development.

The affable Mr Bear, resplendent even in just a fraction of his ceremonial medieval regalia, explained that his quest to boost business ties with local enterprises was underpinned by the agreement between UK Prime Minister David Cameron and President Jacob Zuma to double bilateral trade to about R180bn by 2015. read more

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