The Best Paying Jobs in Africa you don't want to Miss out on
At the mention of Africa what comes to your mind? Wretched faces of hunger stricken population or the vast untapped natural wealth? Whichever it is, the prospects of Africa’s economy have shown great resilience in the recent past with a growth rate of 4% in year 2013, this was slightly above the global index which stood at 3%. The Continents economic outlook is quite promising with the acceleration projected at 5% in year 2014 and about 6% in year 2015. With this projection, good tidings are abounding come 2015 which will open up many job opportunities for both the local and foreign professionals. There is continued rise in foreign investment on the continent with United Kingdom as one of the leading investors. Investors are expected to quench their risk appetite not just in the established investor destinations of South Africa, Nigeria and Kenya but also in the other emerging markets of the continent.
When the big wallets land on the continent, a significant foreign work force is expected to flow into the increasingly growing investor hotspots of the African cities, and if you are keen on the big wallets then here are some of the best paying jobs in Africa you might want to sign up for.
Accountants since they deal with cash and cash equivalents are ever in high demand as long as money continues to flow into the established and emerging markets of Africa. As a matter of fact, corporations need their tax returns filed, financial reports audited, costs and assets managed as well as financial planning and forecasting for the good health of their businesses. And as the continent’s economy continues to intake more foreign investments, the demand for accountants is bound to be on the rise here.
Lawyers are going to remain in high demand, especially the corporate and commercial lawyers who are experts in company and business law. We have seen mergers and acquisition taking place every now and then and these lawyers are tasked with the processes of negotiations, drafting memorandum of understanding, drawing contracts and doing due diligence to ascertain the legal status of the companies targeted for mergers and acquisitions. Depending on the skills, experiences of the lawyers and the size of their law firms, they will participate in different activities motivated by the sizes of the transactions and the values at stake, with the high profile law firms and lawyers being preferred for the most complex transactions considered to be of high risk in nature
SPECIALISED MEDICAL PERSONNEL
With the rise in economic status of Africa, there is increased need of good quality healthcare services. This has mainly been triggered off by the sharp rise in middle income earning households. However according to the World Health Organization (WHO), the sub-Saharan Africa still has the worst health care in the world and that over half of the health expenditure is catered for by payments out of individuals’ pockets, this could translate to a large sum of money considering the steady rise in middle class among the African population. The world health body also reports that there is a large demand for investment in this sector with an estimated need for additional 890,000 physicians, nurses and community health workers. The investment in the sector is expected to be made by for-profit-organizations which would deliver strong financial returns for the investors.
Availability of sufficient capacity of highly skilled engineers is a key requirement for the realization of high quality infrastructure that ensures growth and development. A study by the Royal Academy of Engineering in 2013 revealed a state lack of engineers with sufficient skills and experience noting the high level of unemployed graduate engineers, due to insufficient skills at their time of graduation. Despite this, the continent possesses a huge potential in oil, gas and minerals with countries such as Kenya which had been thought not to have oil deposits intensifying oil exploration with favorable outcomes. The resource rich nations of Africa stand the best chance to benefit most from the projected growth and this means the demand for specialists like skilled engineers will be very high in response to the expected acceleration, with senior engineers earning in the regions of R789,922 per annum in the petroleum sector.
The banking industry in Africa has over the years had appositive outlook, this has chiefly been supported by the numerous companies that have set up business in Africa in nearly all the major sector including agriculture, telecommunications, energy, financial services and manufacture. This rise in local and foreign companies setting up business in Africa has triggered an increase in investment banking services and well as financial intermediaries. There has also been a steady rise in the commercial banking services especially the retail banking which has been triggered off by rise of the middle income households in Africa. With the rise in demand of the baking services, both commercial and investment banking due to increased activities, this sector has continued to experience rise in the remuneration levels of the top executives.