Sunbird has built a wide array of strategic partnerships in South Africa, a prominent gateway for investment into East Africa.
In 2012, South Africa funded more new FDI projects for its African neighbours than any other country in the world. The total number of new projects has increased by a huge 536% in the space of a decade.
This willingness to invest in other African countries is mainly due to high growth opportunities and abundant natural resources. Kenya and Zambia receive a significant portion of South Africa’s outbound FDI and it is Mozambique’s single biggest source of foreign investment. Johannesburg is the centre for all commercial operations in South Africa.
Rather than extracting minerals or oil, South Africa’s impetus for investment in African countries is the opportunity to reach new customers. Currently thirty-five South African companies – in a variety of sectors, including retail and tourism – are based in Kenya. But reserves still contribute to the appeal, as South Africa expects economies like Kenya to develop more spending power from oil wealth.
South Africa displays high international standards – particularly in construction – which we recognised as a shared value within our businesses. With our own local presence in East Africa, we’re in a good position to work with South African firms – both here, and in their native country.