Doing business in Africa is not about “if”, it’s about “how” and “when” and United States companies have to facilitate free trade market access, says Jeff Nemeth, president of the American Chamber of Commerce (AmCham). Speaking at an AmCham event in Johannesburg earlier this month, he said that approximately 80% of US companies who invested in Africa were driving their businesses out of South Africa. “There is currently a R233-billion US investment in South Africa, with American companies employing 150 000 South African workers,” he noted. Coca Cola, which selected South Africa as its first African investment destination during the 1920s, will double its investment in the continent for the next decade (2010 to 2020) to a total of R12 billion. The company believes investment in Africa can only succeed if a long-term view is adopted, Therese Gearhart, business unit president for Coca Cola southern Africa, said. Other major companies looking to expand their investment in the continent include Massmart, Microsoft and the global banking group, Citi. INSERT & CAPTION There is currently a R233-billion US investment in South Africa, with American companies employing 150 000 South African workers. – Jeff Nemeth
