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There's still scope for Singapore firms to venture into Africa

Despite big China presence there, S'pore expertise and advisory services are valued

Published Mon, Nov 4, 2013 · 10:00 PM
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[SINGAPORE] Even as the bulk of Singapore companies have hemmed and hawed at making a foray into Africa, China has been ramping up its investments there.

The China-Africa Development Fund said this year that it would invest $2.4 billion in African projects. China became Africa's biggest bilateral trading partner in 2009, with the total volume of trade valued at $198.5 billion in 2012. This is expected to breach $380 billion by 2015.

In contrast, Singapore-Africa trade is far more modest and has been rising steadily to reach US$14.1 billion (S$17.5 billion) in 2012.

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