EY Attractiveness Report Africa 2021

EY has today published the 11th Africa Attractiveness Report. The Africa report forms part of the broader global EY Attractiveness Programme which focuses on insights derived from understanding growth from foreign direct investment (FDI) in and across the African continent. According to EY Africa CEO, Ajen Sita “Rising investment into sectors outside the traditional extractive industries is creating more sustainable long-term growth.” He cites rapidly rising FDI into service sectors including business services, telecoms, media, technology, financial services, and consumer services as those sectors that will enable sustainable job creation over time.

“Realising Africa’s potential for enormous growth and innovation given it’s young population and vast natural resources, will require significant investment into economic reform, education, healthcare and digital skills development,” says EY Africa Government and Infrastructure Leader, Sandile Hlophe.

Africa is home to the youngest population in the world, with a median age of less than 20 years, and 70% of the population is under the age of 30. “Africa is still an attractive investment destination, but requires enhanced economic reforms, good governance and a stable political landscape to continue attracting FDI,” he adds.