Jan 12

Jan 12 What are the main sectors where Turkey is investing in Africa

Introduction

Turkey’s investment in Africa spans several key sectors, reflecting its strategic approach to economic engagement with the continent. The main sectors where Turkey is investing in Africa include:

Infrastructure and Construction

Turkish companies have undertaken numerous infrastructure projects across Africa, with a total value of $85.4 billion as of 2023. These projects include:

Airports

Ports

Public buildings

Roads and tunnels

Railways

Sports complexes

Energy and Natural Resources

Turkey has significantly increased its involvement in energy-related projects, including:

Power plants

Hydropower projects

Oil and gas facilities

Renewable energy initiatives

Manufacturing

Turkey is establishing manufacturing bases in Africa, focusing on sectors where it has global competitiveness:

Iron and steel production

Cement and building materials

Textiles and apparel

Tourism and Hospitality

Turkish investors have shown interest in the African tourism sector, with companies like Continent Worldwide Hotels expanding their presence.

Agriculture and Food Processing

Turkey is investing in agricultural manufacturing and food products, leveraging Africa’s agricultural potential.

Technology and Innovation

Turkish companies are exploring opportunities in digital and technological sectors, including mobile banking and agricultural technology applications.

Banking and Financial Services

Turkey is working to develop banking and financing opportunities with African countries.

Transportation and Logistics

Turkish Airlines has expanded its network to over 60 African destinations, facilitating business and cultural exchanges.

Healthcare

Medical devices and healthcare infrastructure are areas where Turkey is seeking to invest.

Education

Turkey has established cultural centers and offers scholarships to African students, investing in educational partnerships.

Conclusion

These investments reflect Turkey’s multifaceted approach to engaging with Africa, aiming to create mutual benefits and strengthen its economic and diplomatic ties with the continent.

Antonio Bhardwaj

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