Africa is a continent with 55 countries and a population of 1.3 billion. It is home to some of the worlds fastest growing economies, hundreds of transnational corporations, an urbanizing consumer market, and expansive technological innovation. Together, Africa and Canada can provide the foundations for unprecedented economic, social, and cultural success.
By 2030, half of Africa’s population will reside in Nigeria, Ethiopia, the Democratic Republic of Congo, Egypt, Tanzania, Kenya, and South Africa.“ 43% of Africans will belong to the middle or upper classes…implying considerably higher demand for goods and services…household consumption is expected to reach $2.5 trillion” (World Economic Forum).
African sectors will see major increases in value by 2030 with the implementation of the Continental Free Trade Area: Agricultural and agricultural processing ($915 billion), manufacturing ($666 billion), food and beverages ($740 billion), construction and transportation ($784 billion) (World Economic Forum). Africa has also gained significant traction in telecommunications and is expected to double the number of smartphone connections than all of North American in years (Harvard Business Review). According to the World Bank, Africa is the only continent one can make between 7-25% return on investment.
In more recent years, Chinese capital has been the main source of income for many African countries. The West “is quickly losing ground to China, which increased its exports to Africa more than sevenfold – to 103 billion – from 2005 to 2016” (World Economic Forum). It is time for Canada to engage with Africa, its high-growth sectors, and large domestic market.
The objective of the Canada African Network is to connect dedicated investors with lucrative African business. Our organization will add value to your business with easy access to the African market. With its abundance of natural resources and vast opportunity for business development, Africa can be Canada (and British Colombia’s) gateway to significant economic growth. We encourage our audience to collaborate and share this goal.
Why Africa is turning the heads of investors:
China flexes its political muscles in Africa with media censorship, academic controls:
Africa a crucible for creativity:
What Multinationals need to do to succeed in Africa: