Africa shows every sign of being the world’s next big growth market. It is home to more fast-growing economies than any other region, hundreds of successful big companies, and an urbanizing consumer market whose spending outstrips that of India. In an aging world, Africa is the exception: half of its people are under 20, and its population is projected to double to 2.5 billion by 2050. Fueling this dynamism, Africa is adopting technology at a furious pace: it will soon have double the number of smartphone connections than North America.
What Multinationals Need to Do to Succeed in Africa
It’s home to more fast-growing economies than any other region.
December 07, 2018
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Summary.
Africa shows every sign of being the world’s next big growth market. It is home to more fast-growing economies than any other region, hundreds of successful big companies, and a billion-person, urbanizing consumer market whose spending outstrips that of India. Companies that succeed in Africa, like SABMiller, have the imagination to see Africa’s unmet needs as opportunities for growth, and the long-term commitment required to build businesses of meaningful scale. Their innovations and investments also create real social impact by providing products that were previously unavailable, boosting productivity and growth, and creating large numbers of jobs.