Post #33

Special interest in Africa at the All-Russian Construction Conference International experts and analysts discussed the opportunities for Russian companies to work in Africa and the difficulties to be overcome at the round table "New Geopolitical Priorities of Russia — the African vector: opportunities and challenges in the development of infrastructure projects." The topic attracted special attention of the participants of the XV All-Russian conference "Russian Construction Complex". More than 570 construction projects worth 450 billion dollars are being implemented in Africa. Capital turnover in the African construction market in 2024 is estimated at $58.42 billion and is expected to reach $74.81 billion per year by 2029. At the same time, the average annual growth rate will be 5.07% over the next five years. "A number of our companies are already starting to invest in the continent, including in housing construction in Africa, and are entering into the construction of shopping malls and logistics infrastructure. Russia is now investing not only in the mining sector", said Andrey Gromov, member of the Board of AREA, founder of the GR-Group consulting agency. Gromov called on the leadership of Russian companies to pay attention to the construction sector, as in African countries the profitability of construction is at least 20% per year. "In the near future, measures will be taken to subsidize the construction sector, and special support measures are being prepared for investors going to Africa," the expert concluded. Every year the population of the continent is growing, 50% of the population of Africa are young people under 25 years old, active, ambitious, striving to get an education and realize themselves in their chosen profession or engage in entrepreneurship. Urban population growth, for example, in West Africa amounted to about 40%. The middle class is also growing, which means that upgrading infrastructure to meet the needs of a different level and quality of life for tens of millions of Africans is becoming in demand, said Yulia Berg, Director of the International Business Acceleration Center (IBAC). Berg outlined an approach that allows us to establish a new model of interaction and cooperation in Africa: "In order to find optimal processes and achieve actual results, and so that Russian companies can work as comfortably as possible in a new territory for themselves, work has been launched to create a Strategy for socio-economic cooperation between the Russian Federation and African countries. It is this approach that will allow business representatives to enter in small groups, including together with builders, suppliers of equipment and raw materials, and implement long-term programs effectively." #AREA#RSC#Africa#constructioninAfrica