Make Millions Trading Stocks: Bob Diamond: Africa is best place to invest right now

Thursday, September 24, 2015

Bob Diamond: Africa is best place to invest right now

Investors looking to place their money outside of the U.S. should look no further than sub-Saharan Africa, Atlas Merchant Capital CEO Bob Diamond said Thursday.

"There are a lot of reasons to be positive in the medium-to-long term for sub-Saharan Africa," the former Barclays CEO said in a CNBC "Power Lunch" interview.

Some of the reasons Diamond cited include growth in consumer discretionary income, a growing number in democratic regimes and the fact that Nigeria had a peaceful transition of power during its March elections. "There is strong underlying economic growth that is much more than just the natural resources sector."

However, "there are a number of economies in Africa that are going to be affected by the commodities cycle," he said.

The global commodities complex has taken a hit recently, with spot U.S. crude prices falling over 25 percent in the last three months.

Diamond also expressed concerns over the tumble in the European economy, and called for fiscal policy reform from lawmakers.

"Monetary policy, and what Mr. Draghi has done in the last three or four years, has had a positive impact but fiscal policy has not," Diamond added. "Labor reform, capital markets reform, banking reform: They are serious things that need to be done in those areas, and there has been nothing done."

"Today, 80 to 85 percent of corporate loans are still on the balance sheet of banks in Europe; in the U.S. it's 10 to 17 percent, so when then there's a big dip in oil prices, U.S. banks don't stop lending."

By Fred Imbert

Source:http://www.cnbc.com/2015/09/24/bob-diamond-africa-is-best-place-to-invest-right-now.html

Please find a related article below

Source:http://africanleadership.co.uk/eko-atlantic-city-of-lagos-an-engineering-marvel-on-the-sea-see-photos/

EKO ATLANTIC CITY OF LAGOS - NIGERIA : AN ENGINEERING MARVEL ON THE SEA !

Nigeria is building one of the world’s biggest and ambitious city projects. Called Eko Atlantic city, it will come up on a sprawling land (5,000,000 square metres) reclaimed from the Atlantic Ocean.

The massive engineering project is designed to restore land engulfed by the sea and transform it into an amazing ocean-front city.

Touted to be one of the wonders of the 21st century, the city is designed to accommodate 25 million people who can live and work in the region by 2015.
Image result for invest in africa

The multi-billion dollar investment is supported by private investors – local and international banks – First Bank, FCMB, Access Bank Plc and GT Bank in Nigeria, BNP Paribas Fortis and KBC bank and a number of private investors including Bill Clinton Global Initiative.

Eko Atlantic is slated to become the financial hotspot of West Africa by 2020.

“Eko Atlantic will change the face of Africa and will help Lagos state transform itself into a megacity,” say the project developers.

Eko Atlantic City, variously described as Africa’s Dubai, tomorrow’s Lagos and Lagos of the 21st century, is leading the pack of seven new cities under construction across Africa which altogether promise homes for over 800,000 residents.

These cities include Kiamba in Angola Konzo Techno City in Kenya, Apolonia and King City in Greater Accra and Western Ghana; Tatu City in Nairobi, capital of Nairobi, La Cite du Fleuve in Kinshasa, the capital of the Republic of Congo, and Hope City also in Accra, Ghana.

Eko Atlantic, a joint venture between South Energyx Nigeria Limited and Lagos State Government, is a multibillion dollar residential and business development that will be located on Victoria Island, in Lagos, along its up market Bar Beach coastline.

The ambitious project is being built on 10 square kilometers (3.86 square miles) of land reclaimed from the Atlantic Ocean and is expected to provide upscale accommodation for 250,000 people and employment opportunities for a further 150,000 who will commute to and fro the city on daily basis.

Kilamba, a ghost town in Angola, is a grandiose project which analysts often label as a white elephant. Built afresh, outside the capital Luanda, Kilamba was designed to accommodate hundreds of thousands of people but remains largely empty due to its expensive housing and unfavorable location.

According to the developers, Rendeavour, the objective of the project is to provide the basic infrastructure, planning and necessary management framework in creating satellite cities that reverses the current trend of unplanned development and urban congestion in most of Africa’s growing cities.

Konza Techno City is the Kenyan government’s flagship mega project designed to foster the growth of the country’s technology industry. The multi-billion dollar city, located on a 5,000-acre plot of land, some 60 kilometers southeast of the capital Nairobi, aims to create nearly 100,000 jobs by 2030. It will feature a central business district, a university campus, urban parks and housing to accommodate some 185,000 people.

Designed by Rendeavour, the urban development branch of Moscow-based Renaissance Group, Appolonia and King City will be located in Greater Accra and Western Ghana, respectively. The mixed-use satellite cities are expected to accommodate more than 160,000 residents on land developed for housing properties, retail and commercial centers, as well as schools, healthcare and other social amenities.

The developer reveals that all baseline studies, master plans and detailed designs have been completed and approved, while basic infrastructure work in Appolonia is expected to begin in the third quarter of 2013.

Tatu City is also being developed by Rendeavour and will span 1,035 hectares of land, some 15 kilometers from Nairobi. It is designed to create a new decentalised urban center to the north of the bustling Kenyan capital. Construction work began last May and the whole project is projected to be completed in 10 phases by 2022. When the project is finalized, the city is expected to be home to 77,000 residents.

La Cite du Fleuve is a luxurious housing project planned for two islands on the Congo and one of Africa’s fastest growing cities.

See more photos below