Africa is often perceived as a continent of poverty, disease and conflict. But this perception is getting a makeover. More and more experts say that Africa is the continent of the future. There are several reasons that support this opinion. This article presents the top five reasons.
Africa’s population is growing rapidly, but unlike other parts of the world, Africa will still have several generations that are young. This younger generation has the potential to create a huge pool of labor that can target economic growth.
2. Raw materials
Africa has a significant amount of natural resources, including oil, gas, diamonds and various metals. Growing demand from China, India and other countries is driving the commodities market.
Africa is taking a leading role in the use of modern technologies. The use of cell phones and banking apps is popular on the continent. Rapid expansion of technology infrastructure is creating new opportunities.
Development of technology and infrastructure is leading to an improved trading environment in Africa. This enables the continent to sell its goods and services on the world stage.
The political landscape in Africa is changing to lead the continent to a more successful future. There are more and more democracies, and regulations are being enacted to support the economy.
Combined, these five factors are helping to create a new Africa that looks forward to an exciting and profitable future. It is therefore more important than ever to focus on the continent, leverage its assets and help shape its future.
One of the reasons Africa can become the boom continent of the future is its demographic potential. Africa is the continent with the youngest average age of the population. The African population is expected to grow to over 2.5 billion by 2050. This means that Africa will have a large and employable population in the coming decades.