The African AscensionWhy the changes across the African continent give hope for the future
Africa’s population is currently estimated to be around 1.1 billion people and is expected to grow to well over 2 billion people by 2050.
Add to this the fact that over 40% of the continent’s population is under the age of 15 and that Africa has by far the highest levels of mobile money penetration in the world and the stage seems set for Africa’s ascension.
The connected world is not only providing these young African Millennials with inspiration and unprecedented access to foreign markets it is also providing an outlet for African music, fashion art and literature.
This two-way stream of opportunity is allowing young African Entrepreneurs with new business opportunities unfettered by regional or national borders and restrictions.
In addition, by 2050, more than 60% of Africa’s population will be urbanised, paving the way for improved communication and providing access to goods and services never before contemplated on the continent.
However, the reality of working and living in an emerging economy is not neat and tidy with poor transport infrastructure, infrequent electricity provision and limited access to services being daily realities.
The challenges however also bring opportunity since service providers who can meet the needs of these sprawling communities, such as improved provision of power, entertainment on commutes or greater wireless access will be able to gain traction and market-share in significantly under-resourced markets.
As innovation continues to re-shape the African continent it seems set to facilitate the bypassing of the Western modernisation model and re-defining what modernisation means for Africa.
Flinging open the doors of opportunity and access to markets previously thought inaccessible.
The revolution has begun!
– Charl van Rensburg
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