The main mission of AFRICA CAPITAL is to fund and build mainly through Canadian financial sources export and regional oriented agribusinesses, particularly in the East African Community (EAC includes Burundi, Kenya, Rwanda, Tanzania, Uganda) and Mozambique. EAC countries have known continuous growth for years without having much natural energy resources.
There are tremendous opportunities in African countries, with high return potentials compare to developed markets in North America, Asia or Europe. In the last decade, risks related to investments in Africa have been substantially reduced with better governance and more stable countries. Many African nations realized early in this decade that sound investment opportunities are critical for their economic development. As a result they worked toward setting up economic and political environment where capitalism can thrive properly.
Indeed the Emerging Markets Private Equity Association (Empea) reported recently that fundraising activity in sub-Saharan Africa has almost tripled from $800 million (Sh60 billion) in 2005 to $2.2 billion (Sh160 billion) in 2008. Moreover the heads of state from the East African Community (EAC) trade bloc signed a common market protocol in November 2009. It will come into effect in July 2010. The EAC is also planning to become a Monetary Union by 2012 and eventually a Political Federation.
As of 2008, the EAC had a combined population of 127 millions, land area of 1.85 million sq kilometres, more than 126 millions hectares of suitable agricultural lands. The EAC has also a combined gross domestic product of $73 billion, and a 2007 average growth rate of 7%. The foreign direct investment inflows to the region leapt to $1.73 billion in 2008 from $692 million in 2002. The common languages in the area are Swahili and English.