Why is everyone saying that Africa is becoming the most economically developing in recent times? Many are showing interest in investing in African digital renaissance. In Africa, there is a rise in middle-class income group and the nuclear family. There is also a rise in urbanization as well as IT infrastructure.
International marketers and investors are interested in the boom of the technological start-up. Consumer spending is observed to be skyrocketing. Here are some reasons why you should be investing in the growth of Africa and not just mobile technology but other sectors that are creating a stronger base day after day.
Consumer Base:
This is one of the basic factors which help with the growth of any industry or investment. The number of middle class and nuclear families is growing in Nigeria, Ghana, and Sudan. This would mean that the consumption rate would also see a boom. In 2013, the World Bank declared that 60% of sub-Saharan Africa’s growth in the economic sector is due to the consumer. Kenya Tech news Africa has seen the fastest growing middle-class growth along with growth in the consumer market in the world.
Education:
The more educated the population would be, the better chances of it increasing in terms of the economy. Among the 43% of the age group below 25 in terms of education is improving. Most of the children are now getting tertiary as well as secondary education. The generation of today are tech-savvy, want change, and are hard-working- considered to be crucial factors for economic growth.
Affordable Raw Material:
Africa has been blessed with huge quantities of natural resources and therefore there is no need to import. Therefore, investors are interested in getting their hands on such raw material as it would cost very less to procure. Also, there are huge chunks of farming land for growing raw material as well.
Labour is Affordable:
With the increase in education, many higher learned individuals are leaving for the Western countries. This would also mean that the cost of labour in Africa would be less when compared to other continents.
Potential for Growth:
Africa with technology has started realizing its potential. Telecommunications, agro-based, internet has come with unmet business needs which require to be fulfilled. It would be up to the smart investors to find out opportunities and take advantage of it.
Kenya Tech News potential growth in the economy would promise huge returns if done carefully. Africa is giving you a chance to invest in the world’s agro and developing technologically rich continent.
