‘Piracy won’t deter investors’

Piracy along the West and East coasts of Africa continues to plague project development but will not halt investors moving into the continent, said Paul Runge, managing director of Africa Project Access. “Piracy is a major problem and a concern that is impacting on projects but companies moving into the regions are just spending more on safety and security rather than pulling out,” he told FTW at the recent Africa Exchange conference on business trends and opportunities in southern Africa. “The lack of control, especially around the Horn of Africa, must be addressed as economies in the long run are being damaged by the continued piracy problem. It is without doubt a political issue that requires governments to step up and take control to ensure there is safety and security in the region.”