The numbers don’t lie. Research by the Economist Intelligence Unit shows that Africa’s economies are “the fastest growing in the world”.
Africa is also urbanizing at a fast rate, almost twice the rate of China. Figures from the African Development Bank show that over 500 million people will move into Africa’s cities over the next 35 years.
With about 40% of her 1.1 billion inhabitants younger than 17, Africa has the potential workforce to create exciting new consumer markets. And there’s more to come: the UN projects that by 2050, the major population growth in the world will take place in Africa: an additional 1.3 billion by then.
(According to the UN Population Report, by 2050 Nigeria will overtake the United States to become the world’s third largest country, with a projected population of over 300 million)
The demand for real estate alone by this teeming population will provide profitable returns for the smart real estate investor. Indeed, the investment firm, Morgan Stanley, projects more than 5% year-on-year growth in cement consumption in sub-Saharan Africa between 2016 and 2020.
Of course when the average investor thinks of Africa, they usually focus on the teething challenges: political instability, ethnic tensions, illiteracy, and so on.
However you can only act on the opportunities you see, and it takes the trained eye to see opportunities.
How prepared are you? Take the Opportunity Test to see if you are limiting your financial future.
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“Real Business Opportunities Today”
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