The world’s second largest and second most populous continent, Africa as a whole comprises 54 countries and more than a billion people.
For 15 years, growth rates have averaged over 5 percent, and rapid population growth holds the promise of a large emerging consumer market as well as an unprecedented labour force that – if leveraged – can provide significant growth opportunities. Africa needs everything – infrastructure, education, healthcare, consumer goods and retail – and can pay for it.
- Africa is larger than China, the USA, Western Europe, India, Argentina and the British Isles combined.
- Africa’s middle class is bigger than India’s and by 2020, half of African households will have discretionary power.
- The African workforce will swell to 163 million in this decade and by 2035, it will be bigger than China.
- With 60% of the world’s potential farmland, Africa could become an agricultural powerhouse.