Azania Holdings Announces Trade Mission to South Africa
Azania Holdings is pleased to announce the upcoming business development trade mission to South Africa which will coincide with the "Building Bridges to Global Opportunities" conference in Johannesburg.
- New York, NY (1888PressRelease) July 12, 2010 - Azania Holdings is pleased to announce the upcoming business development trade mission to South Africa from November 9 - 21, 2010. The trade mission will coincide with the "Building Bridges to Global Opportunities" conference in Johannesburg.
The goal of the mission is to help U.S. companies launch or increase their business in the South African market. Participating New York State businesses will gain market information, make business and government contacts, solidify exporting strategies, advance specific projects and secure financing towards the outcome of increasing New York States exports.
According to the United Nations Conference on Trade & Development (UNCTAD) and the Overseas Private Investment Corporation (OPIC), Africa offers the highest and fastest return on foreign direct investment (FDI), more than any other region. South Africa is the economic powerhouse and gateway to Africa.
Enjoying remarkable macroeconomic stability and a pro-business environment, South Africa is a logical and attractive choice for U.S. companies to enter the African continent. It is the most advanced, broad-based, and productive economy in Africa, with a 2007 gross domestic product (GDP) of $283.5 billion and a real growth rate of approximately 5 percent.
"The New York State Pension Fund presently has $321 million invested in South Africa. Entrusting the pensions of New York State employees is a clear indication of the great investment opportunities and returns South Africa offers," says Mona Davids, CEO of Azania Holdings.
U.S. trade with South Africa has expanded every year, until last year. Over the last 10 years, we have seen almost 20% expansion in bilateral trade year over year, from $6.7 billion in 2002 to $16 billion in 2008.
U.S. investment in South Africa constitutes a considerable percentage of industrial output in South Africa. A recent U.S. Chamber of Commerce survey indicated that the turn-over of U.S. companies in South Africa constitutes about 9% of South Africa's total GDP.
We estimate that there are about 700 U.S. companies with a presence in South Africa. U.S. companies employ more South Africans than companies of any other country. The same survey estimates that U.S. companies are responsible for between 20-30% of CSI in South Africa.
Opportunities for NYS businesses in South Africa reflect the growth of its consumer base and its efforts to upgrade and develop its infrastructure to match and further fuel its economic growth.
With the 2010 World Cup, South Africa has invested over 2 billion dollars in infrastructure development ranging from Telecommunications to Construction. Opportunities exist for US companies to provide products and services to the private sector and government contracts.
Africa's 700 million consumers deserve better opportunities, better access to U.S. products and services, better access to U.S. technology that can improve infrastructure, and that will ultimately provide better standards of living on the continent.
For more information, contact us at +1.917.340.8987 or email trademissions ( @ ) azaniaholdings dot com
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