Africa is growing fast, with its wide resource base, conducive investment climate, economic transformation is high on the radar of African policy makers, African countries want to build technologically advanced and globally competitive economies for shared prosperity
Today the rate of return on foreign investment in Africa is higher than in any other developing region. Early entry into African economies provides opportunities to create markets, establish brands, shape industry structures, influence customer preferences, and establish long-term relationships. Business can help build the Africa of the future.
Africa has an increasingly wealthy and urbanized African population, Today, 40 percent of Africans live in urban areas, a portion close to China’s and continuing to expand. The number of households with discretionary income is projected to rise by 50 percent over the next 10 years, reaching 128 million. By 2030, the continent’s top 18 cities could have combined spending power of $1.3 trillion
In 1800 the world urban population was only 2 percent; in 1950, it rose to 30 percent; in 1980 it was 39 percent. It now stands at about 50 percent and is expected to rise to 57 percent by 2025 and 67 percent by 2050.
The key highlights of Africa include the following;