Israel sending 50 executives to foster investment in Africa

( The Israeli government is sending 50 executives on a tour of Africa in an effort to grow the Jewish state’s business presence in that region during an era of a growing Boycott, Divestment and Sanctions (BDS) movement in other parts of the world.

The Israeli government want to invest in Africa (pictured on map) to diversify its economy and counter the Boycott, Divestment and Sanctions (BDS) movement, which has let to businesses around the world boycotting the Jewish state. Credit: Wikimedia Commons.

Foreign Minister Avigdor Lieberman wants Israel to make deals in economically growing countries for companies such as defense contractor Elbit Systems Ltd., irrigation equipment maker Netafim Ltd., and billionaire Idan Ofer’s Israel Chemicals Ltd., which has already invested in a $642 million potash mining project in Ethiopia. 

Israel’s sub-Saharan exports amounted to $1.4 billion last year, nearly four times the exports to the region in 2003, reported Business Week.

“When you look at the map, you see growth in the sub-Saharan countries that is even greater than in Asia and that offers a great deal of opportunity for Israeli companies,” said Shauli Katznelson, director of the economic division at the Israel Institute for Export and International Cooperation in Tel Aviv.

Posted on June 16, 2014 .