Africa’s larger economic growth prospects are among the world’s brightest. Six of the world’s 12 fastest-growing countri
Africa’s larger economic growth prospects are among the world’s brightest. Six of the world’s 12 fastest-growing countries are in Africa (Ethiopia, the Democratic Republic of Congo, Côte d’Ivoire, Mozambique, Tanzania, and Rwanda).
From now till 2023, Africa’s growth prospects will be among the highest in the world, according to the IMF, with banking, telecommunications and infrastructure among the drivers of the current economic growth in Africa.
Africa’s growing, youthful population, amidst an ageing population in most other regions, constitutes a formidable market. The continent’s population is predicted to quadruple from 1.19 billion in 2015 to 4.39 billion by 2100.
In 2015 alone, 200 million Africans entered the consumer goods market. Maximizing this bourgeoning market size calls for actively engaging Africa’s structural economic transformation.
Africa’s large deposits of natural resources promise a bright future for developing value chains. Agriculture and the extractive sectors are linchpins of national, regional and global value chains. The continent hosts 60% of the world’s uncultivated arable land.
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