According to the United Nations, more than half of global population growth between now and 2050 will occur in Africa. That means that, of the 2.4 billion people expected to be born in the next 30 years, 1.3 billion of them will be Africans. That’s a lot of future spending power coming from the continent.
Despite recent recessions and declines, Africa is still growing – just not in the areas you’d expect, like mining and agriculture. Today’s Africa can’t rely on traditional sources of income, but that doesn’t seem to matter. The continent’s entrepreneurs are finding new ways to build businesses. Many of them are helping transform society at the same time, in renewable energies and medical technology.
Check out this infographic, which shows the sectors and companies that are leading Africa’s growth. From the first Kenyan company to sponsor an English Premier League football club, to a Nigerian tech company helping hospitals search for safe blood supplies in real time via SMS, to the companies changing the way we pay for goods and services, there is plenty of business inspiration right here in Africa.
Where are you finding growth in Africa? Let us know on social media using #sageadvice.