UK Firm Targets Channeling $156 Million Investments to Africa

The South African Reserve Bank, South Africa's central bank, right, stands on the skyline in Pretoria, South Africa, on Tuesday, June 4 2019. South Africa’s central bank won’t bail out the country’s troubled state-owned companies including power utility Eskom Holdings SOC Ltd. because it would fuel inflation, Governor Lesetja Kganyago said. Photographer: Waldo Swiegers/Bloomberg , Bloomberg

Eric Ombok, Bloomberg News

Jun 8, 2023

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(Bloomberg) -- ETK Group, a London-based management consultancy, is helping foreign companies invest about £125 million ($156 million) in several African nations this year, as economic and population growth on the continent outpaces the global average. 

“Our mission is to empower companies by facilitating trade opportunities between African countries, as well as Africa and the rest of the world,” Managing Director Bolaji Sofoluwe said in an emailed response to questions.

In the first five months of this year, ETK facilitated £67 million of foreign direct investment through either market entry or expansion in African nations, she said.

FDI flows to Africa reached $83 billion in 2021 from $39 billion a year earlier, with strong growth in extractive industries, according to the latest United Nations Conference on Trade and Development’s World Investment Report.

ETK’s clients plan to invest in more than 20 African economies including Nigeria, Egypt, Ethiopia and South Africa, Sofoluwe said. 

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