(AllAfrica) – Despite the optimism about Africa’s growth and huge investment potential, the continent is not attracting high levels of Foreign Direct Investment (FDI), which are now less than 5% of global FDI. Africa’s traditional sources of FDI have shifted towards India, China and the Middle East, and intra-African investment is increasing.

African businesses are in an advantageous position to benefit from the opportunities in rapid growth markets, according to Nils Flaaten, the CEO of the Western Cape Investment and Trade Promotion Agency (Wesgro), located in the Western Cape Province of South Africa.

“Many African economies are looking at growth rates of 7% plus, while Europe is facing zero to 2% over the next few years. We have a three to five year window of opportunity to grab the best business opportunities in Africa before the rest of the world catches on. We will face competition not only from the usual suspects like China, India, and France, but also from the likes of Brazil and Argentina,” says Flaaten. Click here to read more