According to a new index of potential African investor destinations, opportunities in Tanzania investment helped the country to rank in the top five countries, with Nigeria, Ethiopia, South Africa and Mauritius being the top four on the list of destinations.
Survey organizers for the London-based group, the Star of Africa (TM), said in a recent report with the Daily News that, on the whole, the African continent offers the potential for good growth in spite of the growing global economic crisis.
The Star of Africa (TM) is a weighted index that is based on the governance and social capital of various African countries as well as the sectors of electricity, internet, telecommunications, and water, in general, and the supply, sanitation and irrigation of water more specifically.
The index for the Star of Africa (TM) is handled by the African Rainbow Consulting business consultancy group, which provides intelligence briefings to various organizations on how to conduct business in Africa.
According to the company’s website, the consultancy group is, “independent of any political party or financial institution, and believes that good information is the basis of sound
The original purpose of the group was to help investors and entrepreneurs understand the countries where the opportunity for successful investment outweighs the significant risk.
The business consultancy group ranks 53 different African countries in terms of their potential for investment in a variety of areas.
The chief executive officer (CEO) of the African Rainbow’s Star of Africa, Katharine Pulvermacher, said that the purpose of the company was to help investors understand the full potential that is available in a country that may have otherwise been overlooked.
“It is for investors to make sure they don’t miss a trick by overlooking a country they would otherwise have missed,” said Ms. Pulvermacher in a report by the Guardian, “Africa is going to overtake the Middle East to become the second fastest growing region in the world after emerging Asia. It will be affected by the global financial crisis but it is much less exposed than many places.”
Ms. Pulvermacher went on to say that the Star of Africa (TM) was created to help address the issue of a lack of quality information that is available to investors who are interested in contributing to the development of the African continent.
“While many people in the west would like to contribute to development in Africa without giving aid, there is very little reliable information available to potential investors on where the opportunities lie and the risk involved,” she said, “The Star of Africa(TM) is designed to address this.”