Believe it or not, 5 of the world’s top growing nations are all located within Africa. While Africa currently makes up 16% of the world’s population and just 3% of the global GDP this is a stat that is quickly changing. Africa is projected to achieve double-digit economic growth within the next decade and is continuing on its path to grow faster than any other region in the world. The time for investing in Africa is now.
There are lots of large corporations that have been taking a serious look at expanding their operations in Africa. Google has placed an AI lab in Ghana that will work to apply AI solutions to help with local challenges and improve google translate for African languages. There are also plans for Facebook to build tech hubs for startup development in Nigeria as well. These companies are looking at the future of Africa and investing now knowing it will pay off. By 2025 Africa will have a GDP growth reaching $4.5 trillion.
Many startups are flourishing in Africa, even some startup unicorns. Just three years ago funding for startups grew by 4X with funding deals doubling as well. Over $725 million dollars were raised across 458 deals and the top 30 startups are now receiving rounds of over $5 million.
As you can see, there’s no doubt that Africa is on the rise on the world’s stage. Learn how to embrace the opportunity of broadening your horizons and investing in Africa with the information found in the visual deep dive below: