Why Africa should matter to Singapore companies

SOME years ago, when I first visited Africa, I was struck by the vibrancy and enterprise of its youthful population. I have since visited over 15 countries on the continent and that palpable sense of opportunity still prevails.

Singapore companies have got to participate in that opportunity. Now that the African Continental Free Trade Area Agreement (AfCFTA) has come into effect, there is good reason for companies to consider Africa as part of their growth strategy.

The agreement provides Singapore enterprises in Africa with the opportunity to diversify their trade and investment mix, and confidently sell their services and products in over 50 countries across Africa - a continent that is home to seven of the world's 10 fastest growing economies - without paying tariffs on their products multiple times over.