Africa Global Business Summit 

Why Africa?

• Africa is one of the fastest-growing consumer markets in the world. 40% of the global population growth will be in Africa by 2050

• More than 50% of Africa’s population is under 20 years old, making it the world’s youngest continent — in comparison only 28 % of the population of China is under 20 years old. 500 million Africans are between the age of 18 and 24. By 2040, the forecast is 1.1 billion — more than in China or India

• In light of the increasing affluence, population growth, urbanization rates, and rapid spread of access to the internet and mobile phones on the continent, Africa’s emerging economies present exciting opportunities for expansion in retail and distribution.

• Urban African consumers spend the largest share of their budgets (45%) on food and groceries —-more than the average consumer in the BRIC countries

• Africa is one of the fastest-growing consumer markets in the world. 40% of the global population growth will be in Africa by 2050

• More than 50% of Africa’s population is under 20 years old, making it the world’s youngest continent — in comparison only 28 % of the population of China is under 20 years old. 500 million Africans are between the age of 18 and 24. By 2040, the forecast is 1.1 billion — more than in China or India

• In light of the increasing affluence, population growth, urbanization rates, and rapid spread of access to the internet and mobile phones on the continent, Africa’s emerging economies present exciting opportunities for expansion in retail and distribution.

• Urban African consumers spend the largest share of their budgets (45%) on food and groceries —-more than the average consumer in the BRIC countries

• Household consumption has increased even faster than its gross domestic product (GDP) in recent years—and that average annual GDP growth has consistently outpaced the global average.

• Consumer expenditure on the continent has grown at a compound annual rate of 3.9 percent since 2010 and reached $1.4 trillion in 2015. This figure is expected to reach $2.1 trillion by 2025 and $2.5 trillion by 2030

• In 2030, if the Continental Free Trade Area (CFTA) is properly implemented, a single continental market for goods and services will be operational, offering corporations different points of entry to the continent and a potential market of 1.7 billion people.

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