056_Global12_InFocus_IndiainAfrica_V6

Global issue 12

In FocusIndia in Africa A marriage made in heaven? Indian companies in Africa While India has had a commercial presence in Africa going back decades, nothing matches the rush of Indian companies to do business in Africa that has taken place over the last decade.Anver Versi looks at the entrepreneurs and sectors leading the field “The question is no longer should one in- application of cutting-edge technology and The combination of global best practice, vest in Africa,” says Rinsy Ansalam, the organisational skills, the system, pioneered advanced technology and entrepreneurial MD and CEO of the Global Board of Trade by a clutch of young IT geniuses led by Jig- boldness has propelled Financial Technolo- (GBOT) based in Mauritius, “the question nesh Shah, has been expanding across the gies into the top rank of international com- is can you afford not to invest in Africa?” globe at a breathtaking pace. It frees buy- modity exchanges. Financial Technolo- GBOT is part of India’s Financial Tech- ers and sellers from geographical restric- gies is typical of the new breed of Indian nologies, an electronic commodities and tions and time limitations, and provides a entrepreneurs who have emerged from the currency trading system that a dozen or so raft of benefits, including the possibility of wreckage of the Soviet-style policies that years ago rudely jerked India’s lumbering hedging against an uncertain future, to its held Indian enterprise in a suffocating grip commodity exchanges right bang into glo- members. from independence in 1947 to the era of lib- bal best practice. Having virtually revolu- The impact in India – in terms of the eralisation that began around 1991. tionised the centuries-old trading system volume and flexibility of trade – on the What Financial Technologies has done in for commodities such as cotton, grains, whole value chain, from the humble farmer India and elsewhere in emerging markets, gold and various other assets by the liberal to the largest dealer, has been sensational. GBOT is promising to do in Africa. “Our Credit: UN Photo/Milton Grant 56 lwww.global-briefing.org fourth quarter 2012global


Global issue 12
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