Turkish foreign investments across the globe have increased considerably over the last decade. Major investment has particularly gone to Africa, where its value has reached $6 billion. According to industry estimates investments in North Africa almost doubled in the past five years, while in the sub-Saharan region Turkish investors have invested in countries such as Ethiopia, Cameroon, Cote d’Ivoire and Nigeria.
According to Oktay Ercan, Chairman of OE Group, the rise is in investment is because of the success of foreign policy initiatives of the Turkish government in Africa and Middle East since 2005. By providing employment to locals and making use of home-grown resources, the Turkish companies are helping Africa’s development. However, Ercan feels that more investment in Africa is required if Turkey aims to sustain its economic growth and move up the ranks of the G20.
“In brief, with the business and investment opportunities in Africa, the Turkish know-how, the financial mechanism in the Gulf should be established. The African countries declare that they have been taking Turkey as an example for development especially in the last five years,” he said.
The OE Group, has been actively operating in Africa and in the Gulf region since 2001, in the textile, retail, import-export, construction, mining, agriculture, livestock breeding and tourism sectors, employing 6,500 in its operations in 14 companies in the region: in the Middle East – in the UAE, Qatar and Saudi Arabia – and Africa, in Sudan, Kenya, Cote d’Ivoire and Cameroon.
Oe-group.com
