Business
A report on The Economist Group Africa Summit 2013 Conference – Dr. Castano of Nano Labs Corp.
(Globe Newswire) — Nano Labs Corporation, a nanotechnology research and development company focused on creating a portfolio of advanced products that could provide benefits to a variety of industries including consumer products, energy and healthcare, is pleased to provide an update on The Africa Summit 2013, held in London, England on February 5, 2013, a conference attended by Dr. Victor Castano, Nano Labs’ Chief Innovation Officer.
The Africa Summit was a by-invitation-only conference examining the world’s new economic engine hosted by The Economist Group. Around 150 business leaders, investors and public policy-makers attended the conference and explored the latest commercial opportunities across the African continent.
“The countries of East Africa represent one of the fastest growing gross domestic products (GDP’s) in the world based on rapid population growth and the development of a very large middle class.
Between 2000-2008 the GDP per capital increased by 51 percent, in sub-Saharan Africa and is expected to reach an astounding US$1 trillion by 2020,” stated Dr. Castano. “Also, adding to the rapid growth in Africa is the US$30 billion per annum of foreign capital coming into the region from development banks and the formation of a new development bank operated by the BRICS countries (Brazil, Russia, India, China and South Africa) in the amount US$50 billion and the inter-African trade representing almost US$2.6 trillion.”
Dr. Castano continued: “Nano Labs suite of product opportunities were very well received by the conference participants as they relate to the efficient utilization of infrastructure in the African continent.
The development of housing and other real estate projects, along with the improvement in energy efficiencies and farming practices are all issues that are very important in Africa. Nano Labs’ technologies have a significant and directly positive impact on new products that participating African business leaders are interested in.”
“Africa has a growing middle class of 300 million people. The major issues being faced in Africa include health and sustainability. Nano Labs primary focus will be introducing the nano coating product to the residential sector which will enable comfortable living for the population, and the introduction of our agricultural products to assist in the growing demand for self-sustainable agricultural development.”
