Investors are repeatedly bombarded with figures produced by sub-Saharan Africa enthusiasts eager to promote the region as the world’s next big investment destination.
Africa has a population of more than 1 billion. Some 15% of people globally are African. The median age in sub-Saharan Africa is just over 18. According to the IMF, Ethiopia, Mozambique, Tanzania, the Democratic Republic of Congo, Ghana, Zambia and Nigeria will be among the 10 fastest-growing economies over the next five years. Real GDP growth reached 5% for the region in 2013 and is predicted to reach 6% this year.
The statements read like an Invest in Africa pamphlet, but they are beginning to sink into everyday rhetoric. Investors are becoming more familiar with an African story where – to a large extent – demographic change is transforming the region. A growing middle class in sub-Saharan Africa is creating a burgeoning consumer economy powered by GDP growth and democracy.
Investors are beginning to see sub-Saharan Africa as a genuinely attractive investment destination, while a greater understanding and piqued interest has shaped the development of Africa-focused investment funds.
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| CEO of Mara Group, Ashish Thakker |
Most recently, the creation of Atlas Mara has caught the attention of international media and investors.