Housing in Southern Africa April 2016

S outh Africa’s banking giant, Standard Bank, has linked up with Chinese leading mobile payment provider WeChat Wallet of Tencent, to use the former’s Pan African banking infrastructure to providemobile payments throughout the continent. This demonstrates that themobile Untapped potential of the continent needs connectivity to truly thrive. Africa – the new China Infrastructure & Mixed Use

and connectivity, would greatly contribute to the economic life of developing countries in Africa and elsewhere. Attisani continues: “De-

economic empowerment of Africa lies in its capacity to truly engage and compete on a level playing field on the global stage. It is essential for

payments’ revolution that took place in China in the last decade is now spreading to the up-and-coming nations of Africa. As Chinese economic growth is slowing, recording 6,9% in 2015, with predictions of 6,7% in 2016. It is Africa that is now being touted as the newChina. The combined

‘It will be trade, not aid, which will lift people out of poverty as highlighted by recent Organisation for Economic Cooperation and Development figures on the effects of Global Investment in developing economies.’

veloping economies in Africa have a vast ocean of poten- tial, which given the right basic resources, can become a global engine for growth. There are many successful African enterprises operat- ing across a wide landscape of sectors, which are in need

population and resources of the con- tinent offer unparalleled potential, with countries such as Ethiopia and Ivory Coast hovering closely to 10% in GDP growth. Marco Attisani CEO of Watly, a global water, power and energy solu- tions provider, says that Africa is be- ing considered the China of 30 years ago by many leading economists, al- though it is currently being hindered by a lack of infrastructure. “The true

Africa not only to have access to basic essentials such as water and energy but also connectivity, which will en- able the continent to truly capitalise on the digital revolution.” Africa has an internet penetration rate of 28,6 %, as opposed to a world average of 50 %, which reduces con- nectivity and hampers potential development. Solutions providing all of the building blocks for human development, such as water, power

of the opportunity to partner with international businesses. By allowing themaccess to connectivity and basic resources, we will start to build solid foundations on which African busi- nesses can grow and discover their rightful place in the global economy.” Attisani says that providing energy and connectivity to isolated commu- nities would correct some of themain obstacles to investment in develop- ing countries. ■

Carlos Seara

April 2016