Hyderabad: FTCCI (Federation of Telangana Chambers of Commerce and Industry) organised an interactive meeting on Business Opportunities in Africa on Friday here, a media release says.

“Africa, with its rich natural resources and rapidly developing sectors, presents a wealth of business possibilities this event is an opportunity for potential investors who have a keen interest in harnessing the potential of Africa’s dynamic business environment,” said Meela Jayadev of FTCCI in his presidential address

“Since most of the African countries are vying with each other to develop and improve the standards of living of people, the countries are focusing on infrastructure development and creating facilities to attract investors globally,” Jayadev added.

AK Pramod Kumar Kathigasu, Business Development Head – AP & Telangana, Arise Integrated Industrial Platform explained in detail the various opportunities. “Another advantage is, goods can be exported to Europe from Africa at zero tax. This provides a huge opportunity for investors to get high returns and expand,” he added.

“Africa is a fast-growing continent and many international investors recognise that there is enough of money to be earned there. This program was organised to create awareness of investment opportunities in Africa. The general impression that still prevails in many people is that Africa is still an underdeveloped country,” Srinivas Garimella, Chair of the Industrial Development Committee, said.

“That poverty is very high, people are not highly educated. Several countries in Africa have undergone economic reforms and are one of the best places to invest, when compared to other countries in other regions,” he added.

“This is an opportunity to explore the wealth of business possibilities in Africa across diverse sectors such as Agriculture timber, textiles, cashews, fruits, rubber, spices, minerals, glass, construction, Food Processing and others,” stated Chakravarthi AVPS, Chair of the International Trade Committee.

Investors, entrepreneurs and business leaders attended the meeting.