Time is ripe for Singapore companies to expand in Africa

DURING the course of my work, I often have to explain just how huge and diverse Africa is. This is a continent comprising more than 50 countries, a population of 1.4 billion, speaking hundreds of languages and with a rich range of cultures. In terms of size, it’s about seven times the size of South-east Asia.

During Prime Minister Lee Hsien Loong’s visit to South Africa and Kenya in May, he called on Singapore companies to “break new ground” and explore markets further afield while developing their existing ventures in established markets.

There are many countries in Africa that are stable and a good fit for trade and investment, and importantly, where the governments are welcoming of foreign investments, Singapore included.