Wednesday, 21 November 2012
Tapping into Singapore's Deep Pockets.
Photo courtesy of www.nationsonline.org
Singapore ia city-state on the southern tip of Malay Peninsula. The former British colony is strategically located along Asian trade routes. It has grown rich from trade and is a major financial centre. Though it lacks natural resources Singapore has huge foreign exchange reserves that can be used to develop Africa.
Singapore has to huge sovereign wealth funds (Government of Singapore Investment Corporation and Temasek) that have billions of dollars to invest abroad.
Singapore also has a financial centre where African entrepreneurs can raise capital. Why look to London or New York?