Singapore-based firms continuing to expand in Africa, expecting high returns
Singapore-based firms are continuing to expand in Africa, expecting to see as much as double-digit returns. They say Africa offers long-term growth, with its rapid urbanisation and growing middle-income population. Since its formation, the Singapore Cooperation Enterprise has delivered 38 projects across 23 African countries. To date, Singapore has seven bilateral investment treaties with Africa. The total trade in goods between Singapore and Nigeria reached more than S$900 million in 2024 — almost double compared to the year before. Nadirah Zaidi reports.
Singapore-based firms are continuing to expand in Africa, expecting to see as much as double-digit returns. They say Africa offers long-term growth, with its rapid urbanisation and growing middle-income population. Since its formation, the Singapore Cooperation Enterprise has delivered 38 projects across 23 African countries. To date, Singapore has seven bilateral investment treaties with Africa. The total trade in goods between Singapore and Nigeria reached more than S$900 million in 2024 — almost double compared to the year before. Nadirah Zaidi reports.
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