Africa is one of the continents with the fastest-growing consumer markets in the world; with a population of over 1 billion people who are characterized as intelligent and brand-loyal. Experts anticipate that household consumption in Africa will reach $2.5 trillion by 2030 as a result of the continent’s rising rates of urbanization.
The US, France, UK, and China are among the continent’s largest investors, with China’s efforts alone, generating an average of more than 18,000 jobs. This goes to show that Africa undoubtedly offers great potential for investors willing to take a chance.
Highlighting the continent’s potential for investment, here are 10 African countries you should consider investing in and why.
Nigeria is one of the richest nations in Africa, with a nominal GDP of $504.2 billion; owing to its abundant natural resources, human potential, and second-largest GDP in terms of purchasing power parity ($1.3 billion).
The country has the sixth-largest population in the world, the largest economy in Africa, and is a good place to invest. It is estimated that Nigeria had a population of 215 million as of January 2022, with young people aged 0 to 14 accounting for 42 to 54% of that population and those aged 15 to 35 accounting for 36%. The population is anticipated to reach 480 million by the end of 2050.
The West African nation continues to be the most populous and major oil producer on the continent despite having a per capita GDP that is significantly lower than it had prior to independence.
Source: face2faceafrica.com