Summary of Spotlighting Opportunities for Business in Africa and Strategies to Succeed in the World’s Next Big Growth Market

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Spotlighting Opportunities for Business in Africa and Strategies to Succeed in the World’s Next Big Growth Market summary
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Companies seeking to expand their global presence should look beyond emerging markets in India and China to Africa, write consultant Acha Leke and economist Landry Signé in this illuminating report. They explain how Africa’s growth capacity presents numerous opportunities for investment, despite the region’s challenges, and that companies with the foresight to look at the continent’s unmet needs can realize strong profits while contributing to development. Executives and investors will find this a good introduction to what African business has to offer.

About the Authors

Acha Leke is a senior partner at McKinsey & Co. Landry Signé is a fellow at the Brookings Institution’s Africa Growth Initiative.

 

Summary

According to the World Bank, in 2018, Africa was home to six of the 10 fastest growing economies in the world; Ghana took the top spot. And African nations accounted for half of the 10 “most improved countries” for conducting business globally. Some 400 corporations operating there boast annual revenues of at least $1 billion. A number of significant growth factors show promise today and in the long term:

  • “A population that is fast growing and urbanizing” – Africa will go from 1.2 billion people in 2019 to 1.7 billion by 2030. Cities will absorb much of that ...

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