GCC countries eye investment boon in Africa

The Gulf Cooperation Council (GCC) member states have been setting their eyes in recent years on exploring untapped investment opportunities in Africa. According to a study conducted by the Economist research unit, the GCC countries have become more interested in expanding their investment projects in Africa.
Titled "GCC Trade and Investment Flows", the study revealed that the Arab Gulf states focus particularly on the sector of telecommunications in West Africa and energy projects in the south of Africa.
The study sought to analyze in deep insight the links bonding the GCC member states with different parts of the world, highlighting the fundamental development engines, volume of trade exchanges and investment trends.
Mega infrastructure projects make up the bulk of development engines in Africa. The World Bank estimates the needs of the African states to finance their infrastructure projects to stand at $96 billion a year.
The sector of consumer products represents the fastest developing sector amid changing consumers' spending trends.