Findings of a survey by Africapractice released in November last year show that business leaders in Africa are optimistic for 2010, with 95% of the respondents expecting to expand their businesses over the year.

The survey, which featured 37 Executives drawn from telecoms, beverages, banking, media, private equity and mining businesses in African Countries, further supported the growing belief that Africa is beginning to recover from the global financial crisis.

A further 100 per cent of respondents said that they anticipate levels of Foreign Direct Investment (FDI) to rise this year, with the majority expected to come from China. This represents a much-improved outlook when compared to the 2008 survey, in which 69 per cent of respondents predicted a reduction in FDI flows.

With regard to the biggest challenges to their business in 2010, executives were split between access to credit and availability of talent (skills), which received 35 per cent and 30 per cent of votes respectively. This echoes the 2008 survey in which 31 per cent of respondents cited talent as the biggest concern.

Physical infrastructure and legislative environments were also cited as potential growth limitations.  The future role of the United States prompted a mixed reaction, with only 17% of business leaders expecting the Obama administration to have a positive influence on Africa. The majority of respondents cited advancements in technological infrastructure as being more significant for business opportunity than politics, thus reaffirming the common assertion that Information and Communication Technologies (ICT’s) are key enablers of productive business.

Africapractice is a strategic communications consultancy with a network of offices across the African continent.

For More information Visit: www.africapractise.com