The African demography is being very appealing to the decision actors but most particularity to thinkers from all over the world. Indeed, it gets all the attention and is the topic of all the discussions happening in Summets about emergence in the African continent.
Africa strong private sector for an inclusive growth
Today, decision makers in Africa are very much concerned about the well being and the rise of the private sector. Because of how determining they are, they play an important role in the plannings about economy and social transformation politics.
Investment in Africa: the new trending sectors
Thanks to a globalized economy, the African continent is on the rise. It is an el dorado for investors looking for business opportunities. Because of that, it became the number one favorite destination for an expansion of a business activity and it is not very surprising knowing that half of the countries with the highest growth rate in the world are from Africa. This last few years, most of the new millionaires and investors set their eyes on the black continent looking for a profitable sector to invest in. Investing in Africa has therefore become the new trend for business moguls but what exactly are those sectors?solar energy, agribusiness,not to forget internet access, are all very lucrative sectors in Africa.
Solar energy
In Africa, there are plenty of potential and opportunities for investors. Some sectors are more popular than others because of their profitability like the solar energy business. It represents one of the most abundant resource in Africa since it is available 300 days a year. In fact, according to recent studies from Irena, the African continent is the most favorable place in the world for solar energy development. Based on what he said, investments in solar parks, nowadays reach approximately 1.3 million of dollars for every MW installed compared to a world average MW installed of 1.8 million.
The agribusiness
Apart from solar energy, the agribusiness sector in Africa is very popular. It is a relatively unexplored business that represents a real gold mine. Based on this observation, Aliko Dangote,the richest man in Africa presumably invested 1 million dollar in rice production. Obviously, he is aware of the amount of money Africa spend in importing rice.
Internet access
It is estimated that the internet access market in Africa is worth billions.According to Mckinsey Global Institute firm, Internet could be instrumental in bringing 318 billions of US dollars in the continent gross domestic product by 2025. Those numbers go to show how promising this sector is in terms of investing in it.
An urgent need in human resources
Those new trending sectors call for new skills and for that reason human resources would need to be trained so they can deal with it accordingly. Thus, many young people are leaning toward pursuing a career in those demanding field.
Africa in the heart of advanced technologies
Despite all the negative perceptions people sometimes have about the fact that Africa is not very active when it comes to technologies and innovations, the continent still wants to play a major part in the acquisition, the production and the proper application of technological innovation intelligence. In many ways, the reasoning behind it is the fact that it is essential to take technologies and innovations into consideration in the public policy when faced with the challenges of becoming a developed country.
Intra-African trade
In a time where industrialised countries set the path for everybody to follow, no country can afford to live on their own rhythm. If they do, they would be missing out on plenty of opportunities that globalized economy offers. Therefore opening to the rest of the world is becoming more and more necessary and that is something that African countries are very much aware of. It is with this in mind that 49 out of the 55 African countries signed the African Continental Free Trade Agreement (AfCFTA).
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