CEO Today Africa Awards

13 www.ceotodaymagazine.com CEO Today Africa Awards 2017 ANGOLA 2. Money to spend and a love for brands: African consumers and businesses spend a total of $4 trillion today. By 2025, McKinsey projects that household consumption will reach $2.1 trillion and business spending $3.5 trillion – a total $5.6 trillion in business and investment opportunities. In addition, both quality and brand matter to African consumers when they are making buying decisions. Some 58% of consumers are brand loyal and many are willing to pay a higher price for well-known brands, a McKinsey consumer report says. More Africans live in urban centers, which drive economic activity. Urban consumers in Africa, similar to those in cities across the globe, want a modern and quality shopping experience. Cities are key to capturing African’s consumer opportunity. The 15 largest African markets generated 89% of 2015 demand and are expected to be responsible for 82% of consumption growth in the decade through 2025. In Nairobi, Kenya, and in the Nigerian cities of Abuja, Ibadan, Lagos, and Port Harcourt, per-capita consumption is more than double the national average. Also, the top three cities in Angola and Ghana account for more than 65% of national consumption. 3. Economy getting stronger and more diverse: While growth has slowed among oil exporters, the rest of Africa is continuing to move forward with positive growth rates. Countries not dependent on resources for growth, typically smaller economies, are progressing with economic reform and increasing their competitiveness. These countries, which include Botswana, Cote d’Ivoire, Ethiopia, Kenya, Mauritius, Morocco, Rwanda, Senegal, Tanzania, and Uganda, posted average GDP growth of 5.8% a year between 2010 and 2015. In addition, African countries are beginning to diversify beyond commodities and working to attract investment. Two countries in particular are showing positive growth based on ambitious diversification strategies: Morocco, with its initiative to accelerate global innovations exports, and Ethiopia, with its industrialization strategy. The World Economic Forum notes that every African country has an “investment promotion agency” that acts as a one-stop shop for investors, assisting with registration, taxes and other steps to establish companies locally. Energy, technology, health care, and tourism are just a few of the sectors that hold great potential for investors. In addition, my home country of Angola has been working to diversify resources. Tourism is one of the key opportunities. Angola, the seventh-largest country in Africa, has more than 1,000 miles of beautiful coastline. In addition, Angola’s new political leadership that is expected to be voted in and inaugurated later this year is likely to welcome new investment. Traditionally, there were several go-to industries on the continent, including oil and diamonds, and key countries for investors included South Africa, Egypt, Nigeria, and Morocco. Now, the need to avoid political barriers and the need to divert from commodity-focused economies has opened the door for new industries including technology, health care, and fast- moving consumer goods, benefitting smaller countries including Rwanda, Botswana, and Mauritius. Africa today is undervalued, with robust growth prospects In today’s environment. Investors with foresight and a long-term view will be positioned to capture the opportunities ahead. FIRM PROFILE ABO Capital is an international investment firm headquartered in Angola with holdings throughout the Globe. The mission of ABO Capital is to create global value for developing countries in Africa while contributing to international countries’ economic development. We believe in the importance of diversifying Africa and exposing the world to the many wonders of this rising continent. With its headquarters in Angola, ABO Capital currently has holdings through Africa, Europe and the United States. ABO Capital invests in companies in the energy, transportation, hospitality, health care, technology, education and real estate sectors. As an international asset manager, ABOCapital works closely with portfolio companies to provide business management, legal and other counsel. The firm also has forged strategic partnerships consistent with its mission, in sectors including oil, health, energy and infrastructure.