Opinion piece: Foreign Business Persons Invade Africa's Informal Sector
The potential of Africa is a well kept secret to Chinese and Indian businesspersons. As Africans increasingly fall prey to negative press and lambaste from foreign media, the resultant effect of Africans fleeing and seeing everywhere else green except their own backyard, foreigners are increasingly filling the abandoned service and good provision sectors. From traders in Uganda and Kenya to tour and hotel operators in Tanzania and Swaziland, Chinese and Indian businesspersons are creating unparallel opportunities for themselves where Africans see hopelessness. The amassed capital and created wealth which are repatriated to their home-countries has met the ire of some irate Africans. Notwithstanding, foreign entrepreneurs are scooping supra-normal profits in a continent where everything else is green and the returns-to-investment tower in two digit percentages.
Author: Ben Nakomo
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The author is totally right!
I Totally agree with the Author.
I live in Uganda and this invasion is very evident.I feel sad for my country when I see the the informal sector congested with Indians, Asians and even Europeans, to a small extent.
It is not uncommon to find an Indian home having over 10 persons who are all operating in the informal sector. I sometimes wonder whether these people are thoroughly vetted before allowing them to come to the country.
Some come in the name of "investors" and then they establish a business that employs only the Indians. Where is the support to our economies?
Africa has also become a dumping ground for cheap and fake products from China and India. Uganda is a case in point. Most women shoes sold here from china will last only for as long as one month!
We as Africa need to re-think our development strategies if we are going to promote local Development.
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