Africa has become one of the most watched regions among global investors. The World Economic Forum notes that more than half of the world’s fastest growing economies since 2020 have been African. This shift is driven by economic reforms, better governance, improved trade frameworks, and the continent’s demographic strength. Investors are now looking beyond traditional markets and turning toward Africa’s expanding consumer class, resource wealth, and infrastructure growth.
The Continent’s Untapped Natural Wealth
A New Economic Trajectory Driven by Consumption
The next decade is expected to mark a significant shift in Africa’s domestic markets. By 2030, over 40% of Africans are projected to join the middle or upper-income class. Household spending is forecast to reach 2.5 trillion dollars, more than double the 2015 level. Much of this consumption growth will come from Nigeria, Egypt, and South Africa, while emerging centers like Kenya, Morocco, Ghana, Ethiopia, and Tunisia are gaining traction. Sectors poised for expansion include food and beverages, housing, education, healthcare, financial services, technology, and consumer lifestyle products.