Africa: a market with great potential
The African continent has enormous potential and offers the best opportunities for key areas such as infrastructure and energy. In a brief interview, Dominique Aubert, Senior Vice President, Project Finance & Infrastructure, takes a look at the driving forces behind this growth market.
Dominique, should Swiss exporters keep Africa on their radar?
Absolutely. Africa’s a huge market with enormous potential. This is partly due to its abundance of raw materials and partly to the people themselves. The middle class is growing steadily, and Africa’s population is getting younger and younger. Currently, the majority are under 30, increasingly better educated and more digitally connected. These motivated young people are an important resource as workers.
How has Africa dealt with the recent global challenges?
The African continent, with its 54 countries, is very robust. Of course, global geopolitical developments haven’t spared the economy, but Africa is resilient and its economy is growing. For example, Côte d’Ivoire saw positive growth during the pandemic.
Where do you see the greatest potential?
Definitely in two places: firstly, Africa wants to become part of the logistics chain, particularly in North Africa, where companies from the automotive, aerospace and connectivity industries manufacture products for the whole world. These commodity-rich countries not only want to export their commodities but also to process them themselves, thus contributing to their own value creation.
Secondly, Africa has a huge supply of green energy, which is primarily used for industrial production and local processing of raw materials. Several projects are planning to export part of this energy to the European mainland.
Is this where Switzerland comes in?
Absolutely. The large projects in the country represent a major opportunity for Swiss exporters. This is where we can score points with our expertise in specialised high-quality products. A higher price is also paid for that.
What advice do you have for Swiss companies?
No matter how big, be open to this exciting market. There’s always an EPC, i.e. a general contractor, who handles the project and the drafting of the contract. And, of course, SERV is there to provide a payment guarantee.
The trend is clear: business is picking up speed.
