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For the Group's 2010 Annual Report, JSE Magazine Editor James Retief provided an essay entitled 'Investing in Africa', in which he investigated Africa's investment heritage and potential. This was his conclusion:


Having for a long time been considered the delinquent continent, Africa has transformed itself into one of the fastest-growing regions in the world, featuring robust and resilient economies, a stable banking sector, strong markets, liberalising policies and undiscovered, high-quality and fast-growing companies.

With economic growth figures of between 5% and 8%, returns on investment frequently surpassing those of developed economies and the income levels of the one billion-strong population ever rising (thanks largely to globalisation and the unabated demand for goods from countries such as China), the investment potential is huge. Investors can choose from banks, mining, retail, manufacturing and mobile phone companies, all with good prospects, healthy balance sheets and respectable price earnings ratios.

Africa is now a global competitor and a premium investment destination. Now is Africa's time.


A full version of the essay, in PDF format, may be downloaded here.