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Africa 2030: Points of viewAfrica is crucial for future growthRoss McLeanRoss McLean is President, Sub Saharan Africa for US headquartered Dow, one of the world’s leadingchemicals companies, and ranked among the Fortune 50.With prolonged slow or stagnant growth hitting many industrializedeconomies, the remarkable story of Africa’s growth has broughtincreased global attention towards the continent as both a marketand a destination for trade and investment. While to some thisrevelation has come out of the blue, Dow has operated in Africa forover 50 years and believes that this recognition of Africa’s promiseis a direct result of demographic and political trends that have beenbuilding over time, despite challenges, and look set to continue intothe foreseeable future. Dow sees Africa as crucial to our company’sfuture growth and business success, both by 2030 and beyond,and we are proud that our solutions have been part of this growthacross industries, whether it be in agriculture, infrastructure,energy, or manufacturing. We see the gains of recent years as onlythe beginning of Africa reaching its economic potential. Amidstthe very real excitement, many challenges remain, and we must allwork together to ensure that such growth and success will be bothsustainable and translate to the communities who have not yetenjoyed the benefits of development.In addition to GDP growth projections that place 7 out of the world’s10 fastest growing economies between 2011-15 on the continent,according to presentations during the African Development Bank’srecent annual meetings in Kigali, Foreign Direct Investment willreach US$80 billion this year. This is up from US$56 in 2013 andUS$50 in 2012, with services and a growing manufacturing sectoraccount for US$67 billion of this year’s total. Although they onlyaccount for around 3.5 percent of the world’s total, exports fromAfrica grew faster than anywhere else in the world. Certainly,soaring global demand for Africa’s rich natural resources is oftencited as a primary element in Africa’s growth story, but we feelthis is only part of the picture -- broad trends of increasing politicalstability and improved governance across are making significantcontributions to economic growth and we believe this will continue.While we cannot ignore the very real and significant challengesto stability and security that will remain across this vast anddiverse continent for the foreseeable future, the overall trend linesremain positive and point towards sustained growth and increasedprosperity and transformation in 2030.Stability and Improved Governance Boost Investment, GrowthWhile troubles in South Sudan, Central African Republic andNigeria, for example, continue to garner headlines, there are fardifferent stories unfolding, and have been over time, throughoutAfrica. Ghana, for example, has continued to shine as a beacon ofpolitical stability in West Africa over the past 10 years while recentpeaceful political transitions in Kenya, South Africa and elsewhereset the tone for the continent’s political evolution. Supported byimprovements in economic policy, enhanced political stability iscreating a more favorable climate for foreign direct investment andaccelerating economic growth. Strides are also being made in thebattle against corruption. It is quite remarkable, in fact, how certaincountries have used global rankings, such as the World Bank DoingBusiness Report as both a spur to, and a gauge of, their efforts toimprove their investment climate. Global firms are taking notice,but perhaps as important is an increasing confidence among localentrepreneurs in the opportunity to work within the system to buildstrong, indigenous firms prepared to enter the global supply chain.Another driver of sustained economic growth and prosperity inAfrica is the continent’s immense human potential and capabilities.As noted above, all across the continent you see many youngprofessionals embracing the challenge of starting a business and58