Africa’s growing importance as a trade and investment destination was highlighted by the US president’s recent visit to Senegal, South Africa and Tanzania. At the second meeting of the India-Africa trade ministers in 2012, India and Africa set a target of $90 billion in trade and investment for 2015. As India looks towards the continent to expand its commercial ties, it also faces a number of challenges – infrastructure hurdles, inadequate banking and financial facilities, and low recognition of brand India.
Kapil Kapoor, director of Strategy at the African Development Bank Group (AfDB) and former World Bank representative for Uganda and Zambia, speaks to Gateway House’s Karan Pradhan about Africa’s growing awareness of transparency in business, its need for public-private partnerships to bridge infrastructure gaps, and how investment has gradually replaced aid in African countries.