Ambassadors make a case for Singapore firms to partner with Africa

Speaking with one voice at the World Opportunities Forum 2024 the representatives of Egypt, Rwanda and South Africa urged investors in Singapore to set aside their apprehensions and invest in Africa.

Centre Director Amit Jain, who moderated the session, titled One Africa, asked High Commissioner Madiepetsane Charlotte Lobe of South Africa what the newly elected Government of National Unity is doing to address some of barriers to growth, including power cuts, urban crime, and high labour costs. She laid out the progress the government has made in expanding off-grid power, reforming the public utility Eskom and spending on social welfare that has done much to spread the benefits of growth. She also outlined some of the steps taken to bridge the infrastructure gap that has emerged over the years. She identified five specific areas where Singapore SMEs should consider investing in South Africa.

Jean De Diu Uwihanganye, the High Commissioner of Rwanda dismissed fears of the mpox virus, which has emerged in neighbouring Democratic Republic of Congo (DRC) citing the fact that at least four cases of the same virus had been detected in Singapore earlier and that alarm over its spread is overblown.

Jain questioned Ambassador Ahmed Mostafa of Egypt on the continued viability of the US$58bn New Administrative Capital project considering the financial bailout the Arab republic has negotiated with the IMF. He replied that the Government was taking corrective steps and is committed to maintaining fiscal discipline.

Each of the three African officials made an impassioned pitch for Africa and received a rapturous ovation. The World Opportunities Forum was organised by Sun Media Pte Ltd at the Fullerton Hotel in Singapore on 21 Aug.