India should consider whole of Africa for investment, says Ghana High Commissioner

KOLKATA: Indian investment in Africa should be considered for the entire continent rather than any individual country, High Commissioner of Ghana, Samuel Panyin Yalley has said.

"India needs to look for strategic investment in Africa and consider the entire continent as a single market," Yalley said here at an event organised by CII.

"Africa will be the next frontier in economy," the envoy said.

He suggested that Indian companies can look at areas like infrastructure, manufacturing, technology, mining and other possible opportunities in the continent with a 200 million strong consumers.

Yalley reasoned that land is readily available and cheap in the continent and the firms will not face challenges in sending profits back to the home country.

"Profits can be sent back home without any concern. Investment are also safe," said Leluu O Abdallah, Counsellor, Tanzania High Commission.

South Africa High Commission Counsellor (economic) Stefanus Botes is of the view that Airtel's plan for 'partial' asset sale in Africa won't lead to any negative investment outlook in the sub-continent.

Meanwhile, an Indo-African business seminar has been scheduled for October this year to explore areas of cooperation between India and African countries.