‘All eyes will remain on Africa in years to come’

With some of the fastest global economic growth rates, Africa is gradually taking its rightful place in the trade world as it enjoys high returns on investment compared to many other developed countries, says Gerald Povey, UTi vice president – Africa development. “There is movement and progress towards macroeconomic stability and social development across the continent and this has played a major role in its growing importance.” With more than 370 offices operating in some 60 countries, UTi Worldwide Inc is an international, non-asset-based supply chain services and solutions company that has seen its African branch inject significant time and investment into Africa. “Especially in the mining as well as oil and gas sectors there are opportunities for high economic growth,” says Povey. Of course the continent still has major challenges to overcome, especially in terms of poor infrastructure and skills shortages. But opportunity far outweighs the challenges, according to Povey, who says with growth in industries such as mining, oil and gas, retail, automotive, pharmaceutical and hi-tech, all eyes will remain on Africa in the years to come. While he acknowledges that Africa is a challenging terrain for logistics and supply chain providers, there’s growing interest in the continent. “The economic double dip has also forced companies to look for growth in more sustainable and predictable markets, hence their move into Africa,” said Povey. “We certainly believe that the industry in the region is perfectly poised for growth. And as more and more companies move into this uncharted terrain, they will look to logistics providers that offer integrated, end-to-end, industry-specific supply chain solutions.”