African countries compete for FDI - CNBC Africa

African countries compete for FDI

Special Report

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Competition among African countries intensifies. PHOTO: Getty Images

This follows after questions were asked at the World Economic Forum on Africa in Nigeria earlier this year about the ability of African countries to attract foreign direct investment (FDI).

(READ MORE: Africa still an attractive FDI investment destination)

According to the conference and event organiser, EnergyNet Limited, Africa’s power sector has traditionally been less attractive than elsewhere in the world due to the continent’s poor infrastructure setups, as well as their market’s lack of bankability.

In order to attract more investment into Africa’s energy space, EnergyNet will hold the 16thannual Africa Energy Forum in Turkey between the 18 and 20 June 2014, in order to give the most competitive African countries a chance to promote their stability and bankability.

Government representatives from countries such as South Africa, Nigeria, Mozambique, Kenya, Ghana and Tanzania will be attending the event and will be given a chance to showcase their investment policies and regulations with a specific focus on FDI.  

(READ MORE: FDI in Sub-Saharan Africa up by 4.7%)

“It is clear that for these nations, the credibility is there and that capturing investment is of paramount importance,” said EnergyNet in a statement.

The group also stated that the forum remains an important meeting for Africa, despite being held outside of the continent, it’s where the industry gathers to promote investment.