African marketplace needs innovative development

Author: Kofi Adomakoh, James Kirk (yBC.tv)

Categories: Africa
Tags: development, innovation, investment, partnerships
The African marketplace cannot be approached in the same way as markets in other parts of the world. In this TV show Kofi Adomakoh of African Export-Import Bank discusses developing the hospitality industry in Africa.

The hospitality industry in the African marketplace

There’s no silver bullet about developing the hospitality industry in Africa.  We are a number of people who have not had the necessary investment particularly in the infrastructure and tourism sector.  The tourism is as old as Africa.  But in terms of investment, we have very little to show at this point in time. Now, what I would ask people to do is, I think people must try and be innovative about the way they view Africa.  Trying to develop the tourism sector in Africa on the same old basis as has been done in other parts of the world will not necessarily be the solution.  We need to be very innovative about how we want to develop the tourism sector in Africa.  We talk about lack of sufficient equity, lack of right partners, regulatory, environmental, legal. Yes, we need a strong partnership where African investors, governments, private sector come together with foreign direct investments and team up with, come up with innovative solutions.  There’s no one size for any African country.  And I think we find ourselves in a unique situation that demands new ideas very innovative in character.

Keep browsing the Hospitality Channel for more videos on the African marketplace and other global established and emerging hospitality markets.


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