At Commonwealth Funds, we’re here to invest our time in an effort to benefit the Fund shareholders so they grow their financial knowledge, make more informed decisions regarding their assets, and bring it home.
West Africa is one of the fastest growing regions in Africa, according to the African Development Bank Group. Factors, including a stock market based in the Ivory Coast, regional growth expected to reach 2.6% in 2017, reduced poverty, and expansive population growth, are clear indicators of economic development.
The tourism and travel industry is an important sector globally, contributing to the economic and job development throughout all regions of the world. In reference to the World Travel and Tourism Council’s 2017 Global Economic Impact and Issues report, tourism and travel “contributed US$7.6 trillion to the global economy and supported 292 million jobs in 2016”. Additionally, the industry’s direct influence on GDP grew 3.1%1, moving tourism and travel to the second fastest growing industry behind the information and communication industry.
It’s hard to believe that horse and buggies are still a common mode of transportation in one of the world’s top five fastest growing countries. As if Ethiopia has one foot in the present and one foot in the past, the juxtaposition of a booming skyline and age-old way of transportation highlights just how rapid the country’s growth has been – and continues to be. The Embassy of Ethiopia in Washington is a useful resource on the country’s opportunities.
Known for being unbelievable tourist destinations, Australia and New Zealand are also recognized for their thriving economies, making them prime countries to invest in. The 2017 Index of Economic Freedom, compiled by The Heritage Foundation, ranked Australia and New Zealand in the top five – categorizing them as countries with “free” economies.
In an effort to continue learning about different regions around the world, Robert Scharar – Commonwealth Fund’s Africa Fund portfolio manager and advisor – visited Africa in June. Touring the Common Market for Eastern and Southern Africa (COMESA) Trading Region, Scharar spent a considerable amount of time in Ethiopia where there currently isn’t a public stock market, but work to open the economy to external investors is progressing.
It’s no secret that our world is experiencing shifts in the climate that continue to affect our environment. From extreme weather to serious droughts, our climate is changing, which in turn is creating consequences that affect our way of life.
Robert Scharar, Commonwealth Funds’ Advisor, brings donations from Houston to Africa for the Open Arms Home for Children.
Houston-based fund Advisor for Commonwealth Funds, Mr. Robert Scharar, not only assesses companies’ potentials, monitors assets and reviews fund performance – he is also a humanitarian, catalyzing philanthropic efforts in his wake.
Rob Scharar, co-manager of the Africa fund, sat down with the BusinessMakers radio show to share some of his wisdom from years of experience investing in Africa.
The following video comes from an interview CNBC conducted with Rob Scharar, co-manager of the Africa Fund, regarding strategies for investing in Africa.
Watch the video below to learn about economic trends that extend beyond the continent’s natural resources.
In 2010, the International Trade Center/Texas Africa Business Summit honored Rob Scharar with the Texas Africa Business Excellence Award. The purpose of the Summit is to initiate mutual public and private partnerships and promote economic growth, integration and free trade between Texas and Africa.
Watch the video for Scharar’s informative response regarding investing in Africa.