The Swiss-African Business Circle has added another feather to its cap with the birth of the maiden edition of its annual publication the Swiss-African Business Relations Status quo 2018.
The publication aims “to show a more holistic view of business relations between Switzerland and African countries by consolidating existing information/data and complementing this with research done by the Swiss-African Biz Circle,” stated Verena Utzinger and Michael Rheinegger, president and managing director of SABC respectively in its Preface jointly signed by the two.
Some of the key findings in the maiden edition include:
- Development of Swiss-African trade relations has remained constant over the last 10 years.
- Swiss export of services to Africa are responsible for 32% of the total earnings of Swiss exports to Africa.
- Swiss Foreign Direct Investment (FDI) stock in Africa has tripled over the last 15 years.
- Swiss FDI is less focused on traditional key markets and more widely spread across the continent.
- Swiss FDI stock in Southern Africa is still responsible for over 70% of total stock in Africa, mainly thanks to new investments outside of South Africa.
Strong partnerships with several institutions and particularly, the Swiss National Bank, were critical to consolidating existing information and data.
“Thanks to the collaboration with the Swiss National Bank we can show data at a level which we haven’t been able to do in the past and uncover new patterns in Swiss-African business relations”, says Michael Rheinegger, Managing Director, Swiss-African Business Circle.
For instance, by regrouping Africa into 6 geographical zones and by making use of more detailed figures, the report can show 100% of Swiss FDI and workforce employed by Swiss companies in Africa compared with e.g. 38% of FDI stock in Africa in 7 countries published by the Swiss National Bank.
Another example of how the more detailed figures could be applied is by using an alternative measurement, the report showed that Swiss-based companies employ close to 140’000 people in Africa (4,4% of the workforce employed by Swiss-based companies globally). This is approximately double the figure of 67’137 given in the standard publication of the Swiss National Bank.
- Africa Link