Overview

The global economy is transforming and giving rise to a newer global power “Africa”. The continent is emerging as a promising growth frontier in comparison to the rest of the world. The main reason behind the growth is the higher GDP growth rate than the global average rate, followed by the huge generation of young Africans, and strong domestic and foreign investments in key sectors such as automotive, mining, oil, and gas, and agriculture & agro-processing.

The rising urbanization rate is also a contributing factor in elevating the African countries' significance to the global platform. The increasing investment in green businesses and rising penetration of digital technologies are boosting the country’s productivity and manufacturing capacity.  Furthermore, the mineral-rich reserves in the region make it the driving force to support the low-carbon economy vision of the future world.

The visionary innovation group explores the continent’s development prospects over the years and its evolution as a growth continent including the high-potential sectors in the region and the promising factors driving the growth.

New green technologies play a crucial role in enabling future growth, and companies are investing in green technologies to gain a competitive advantage in the market. The significant risk to companies is that African economic growth is supported by debt financing and this might in the long term create instability in the economy.

• How has the global economic, political, and climate uncertainty led to the evolution of the African region as a future growth continent?
• How will the potential growth rate of the region’s GDP pave the way for it to become a new economic hotspot of the future?
• How will factors like increasing urbanization rate, resource abundance, and higher share of young population contribute to the region's growth and improve the investment portfolios of the region?