- OUR MARKETS
- OUR MARKETS
Africa’s growth is underpinned by strong fundamentals, making the continent a destination for companies looking to grow their markets.
Africa is projected to be the second-fastest growing region in the world between 2015 and 2020. The continent has the highest population growth rate, rising from 500 million in the 1980s to more than 1 billion in 2014 to a projected 2 billion by 2050. This growth is augmented by rapid urbanization, with four times as many cities over 1 million people as the United States. Buoyed by the world’s fastest growing consumer market, consumption by middle-income households is estimated to reach $1.5 trillion by 2020. Inflows of foreign direct investment are also growing from $10 billion in 2002 to $54 billion in 2014, as manufacturing, technology, construction and service sectors expand across the continent and companies harness untapped natural resources. Africa continues to be home to 30% of the world’s unused mineral resources and 60% of the world’s uncultivated fertile land.
BlackIvy’s anchor countries, Ghana, Kenya and Tanzania, enjoy:
+ central locations—serving as natural gateways to their regions
+ abundant natural resources
+ competitive and growing labor pools, with young populations
+ favorable tax and trade incentives with regional and international markets, including the European Union and United States
+ strong economic growth