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Turkey’s Rise in Africa

OZY.com

JONATHAN TORGOVNIK/GETTY

China isn’t the only one raising its stake on the African continent

African leaders are happy to look beyond Western aid and investments that come tied to pesky political conditions, like asking for free elections or letting the opposition out of jail. As a result, China, India and other Asian firms willing to look the other way are making major inroads across the continent.
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Now, Turkey is joining the crowd and forging a route into Africa, setting its sights on Uganda, an East African nation with untapped reserves of oil and minerals. It could be the start of a beautiful friendship.

Read more: Turkey’s Rise in Africa | Fast forward | OZY

Turkey comes to East Africa

The Financial Times - This is Africa

Turkey, which already straddles both Europe and Asia, is now making inroads into a third continent: Africa. East Africa is poised to become the new frontier market for Turkish construction, textiles and hospitality firms as they position themselves to become major stakeholders in the region’s rapidly growing industries.

Meanwhile, the Turkish government is forging ties with its African counterparts to negotiate tax agreements, regional security cooperation and foreign aid packages.
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“The total value of projects undertaken by Turkish contractors in African countries exceeded $47bn dollars” in 2011, according to the most recent available figures from Turkey’s Ministry of Economy. At the same time, Turkey’s exports to Africa reached $13.3bn that year – a fivefold increase since 2003.

Read the full article as it appeared at The Financial Times‘ This is Africa publication.