NEWS & events
Africa the golden opportunity
May 28, 2017
Over the last decade Africa has been gaining popularity around the world, and while its potential has been discovered slowly by other countries, currently it is at its prime potential as the developments in the past few decades have now made it an easy to access and more attractive market than ever before.
The IMF predicts that Africa will double its economic output every 15 years. It is currently the second-fastest urbanizing continent with an average annual growth rate of 1.4% from 2010 to 2015. It is expected to have the world’s largest working-age population of 1.1 billion by 2035. Over the next few years Johannesburg, Nairobi and Dar es Salaam are anticipated to become megacities.
In 2015, sub-Saharan Africa enjoyed a 45% increase in capital investment to $61 billion making it the world’s fastest growing region for FDI. Aside from international support, African countries are investing in each other for a mutually beneficial growth. Technology hubs are also emerging across the continent, entrepreneurship is being promoted by over 300 Tech-hubs across Africa, a figure that has doubled in less than a year.