The Africa and Southeast Asia Business Forum, held from April 5-6 in Singapore, highlighted African business opportunities ripe for Southeast Asian firms while also moving to create the Africa and Southeast Asia Chamber of Commerce.
The chamber, expected to be set up later this year, will be aimed at connecting businesses from the two regions emphasizing renewable energy, the management of seaports and airports, and water treatment. In addition, the Singapore government, African Development Bank, World Bank, and the International Finance Corp. have set up a $1 billion fund to help the firms out of the Asian region venture into renewable energy.
Singapore’s High Commissioner to Nigeria Shabbir Hassanbhai said that Africa presented a lucrative opportunity with investment returns falling between 20% and 30%.
Subscribeto Alternative Energy Africa today for more in depth news in the alternative/renewable energy sector and be sure to grab yourrisk-free trialto see what we’re doing in 2010.
