Africa a Growing Star in Global Economies: Binks

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Aug. 6 (Bloomberg) –- Fedex Express EMEA President David Binks discusses the risks and rewards of doing business in Africa, how important Africa is to his company and his strategy for growth in the region with Mark Barton and Manus Cranny on Bloomberg Television’s “Countdown.” (Source: Bloomberg)

It's very important, if you look at where africa is growing, we are starting to see good gdp growth, particularly in the southern africa parts.

Was starting to see international trade be a more important part of that growth.

We are seeing a lot of direct foreign investment going into africa.

It was an opportune time for us.

We think africa is going to be growing start in the global economies.

Fedex will be well-placed of acquisitions we made to participate and help not just the businesses in africa and south africa, but also to help the african continent overall.

Based give us an idea of what africa represents when it comes to the global business, how fast do you see business in the region growing?

We don't break out our individual regional figures in that way.

Certainly we are seeing some healthy growth in parts of our african business.

The important thing is super swift, the company we bought, is not just south africa.

In includes six other southern african countries, giving us a strong network in that part of the african continent.

That is a big driver, sub-saharan africa component is a big driver of where the overall african gdp and international trade is going to go.

That's one of the things we have drawn out this week.

The fastest-growing economies are in sub-saharan africa.

What are the challenges?

I can only imagine in a country that big and adverse, the challenge of actually running up business like this must be huge.

What is the single biggest challenge?

This apprising thing is actually, and you're right, there are challenges.

Of course there are always challenges when you go into new markets and emerging markets.

What is surprising is the challenges are very similar to other emerging markets.

Over 90% of businesses in south africa are looking to participate in global trade.

That'll have the confidence and resources or experience, which is where we are trying to play a role.

For instance we have free thousand what we call global trade specialists who are used to dealing with how to get packages across borders, to help customers, to help people who want to important export in the safe movement of a half-moon packages a day across borders.

It's that type of situation that southern or is dealing with, very much like around the world.

They are just perhaps a little more progress than some of the other markets.

You have barack obama the african leadership summit.

$14 billion worth of deals, ge came out with a $2 billion commitment by 2018 to africa.

How do we look through those top headlines?

Are there really an aggressive push to do more business in africa, and what does that mean for your business?

I think it's a realization from many of the big businesses of the future potential that africa is going to have in the global economy.

Everybody is beginning to really wake up to that situation.

That again is an important part of why we have made the acquisition that we have their, to connect the global customers would trade with on a daily basis, to give them great access into south africa and out of south africa as well so they can build their business links through fedex.

That's really another important part.

It's not just about dealing with customers in southern africa.

It's really thinking about this as a global situation and how we connect the global international trade in and out of africa.

I have to act -- ask you about the ebola virus.

Is it having an impact on your business?

The first thing is, our sympathies obviously to anyone who has been impacted by the virus.

The acquisition we have made in southern africa is where it is not a problem at the moment.

At the same time, would closely monitor what the situation is.

We will look on a case-by-case situation of what contingencies will need to be.

At the moment it is not being disruptive to our operation, and we hope it stays that way.

With bobby flay continue to monitor that situation.

David, thank you very much.

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This text has been automatically generated. It may not be 100% accurate.


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