The continent is currently experiencing an average economic growth of between 5 to 8% a year.
It’s the youngest region in the world, and by 2040, is expected to have the largest workforce in the world at 1.1 billion people.
It is also one of the world’s greatest sources of raw materials, and, in many instances, has leapfrogged the developing world in terms of technological advancements. According to McKinsey 7 Company’s report ‘Lions on the Move: The Progress and Potential of African economies’, Africa’s combined Gross Domestic Product will be $2.6 trillion by 2020.
By the same year, its own consumer spending by 128 million households with discretionary income is expected to be around $1.4 trillion.Click “Continue Reading” to see the fastest-growing economies in Africa