Alec Hogg: KZN set to be key gateway to Africa

2012-07-28 00:00

KWAZULU-NATAL is poised to occupy a spot at the centre of South Africa’s emerging status as a gateway into Africa, touted as the world’s fastest-growing region.

So says Moneyweb founder Alec Hogg, who was the guest speaker at a Witness/Glacier by Sanlam business breakfast at the Golden Horse Casino in Pietermaritzburg yesterday.

“If Africa flourishes, it will need a way to get products and services into the continent,” Hogg observed.

It was no coincidence that President Jacob Zuma’s state of the nation address and Finance Minister Pravin Gordhan’s budget speech both focused on the country’s massive infrastructure investment drive, he told guests.

The medium- to long-term investment, of about R360 billion, will be for rail, port and other infrastructure development initiatives — much of which will be rolled out at Richards Bay, Durban and the N3 corridor between Durban and Johannesburg.

Hogg shared his insights on a recent visit to the Africa Economic Summit in Addis Ababa, Ethiopia.

Describing Africa’s economic potential as “extraordinary”, he said the continent had become savvy in dealing with China and the Asian giant’s economic role on the African continent.

Hogg said African countries were increasingly engaging with China on their own terms.

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