Business opportunities
Africa offers some of the most exciting business opportunities and long term potential. Africa’s vast natural resources put it in an enviable position as global demand for soft and hard commodities continues to grow. However, falling commodity prices turn to harm African economies. African governments have seen the need to reform and diversify their economies through various ventures. Also, as a result of improving the business environment and better economic management, the continent is expected to grow by more than 5 percent annually in the next 20 years.
Besides its natural resources, Africa also has food and lands for agriculture. About 60 percent of the world’s uncultivated arable lands are in Africa. Also, with a population of 1.2 billion, the continent has the potential for long-term consumer-related areas. By 2100, the continent is expected to account for 3.2 billion of the global population with a working population of 2.1 billion. Also, by 2050, 53% of Africa’s population is expected to urbanize. This has implications for global consumption.
