AFRICA’S THIRD ACTWHY THE CONTINENT MATTERS NOW MORE THAN EVER
Jon Gosier
MIAMI DADE COLLEGE
“Africa’s Third Act: Why the Continent Matters Now More Than Ever”
02/26/15
Colonialism 1800-1900’s
Extraction 1900-2000’s
Capitalism/Growth Geopolitcal Positioning
GROWTH, MORE THAN RHETORIC
McKenzie expects 25% rise in number listed African companies in 2015. They rose 30% in 2014.
Africa is experiencing the longest period of sustained and robust economic growth since the 1960s.
The continent’s economic output has risen almost fourfold since 2000 to over $2 Trillion in 2014.
AFRICA ACCELERATES PAST ASIANo. of Countries Growing at 7% avg. Africa’s economic output (in billions)
Diversification and Industries Driving Growth
GROWING CONSUMER MARKETS
327 million Africans have moved into the middle c lass* (34% of the cont inent ’s population). Of that group, 128 million belong to a more stable middle class while 44 million are in the upper class.
Africa’s middle class has grown 183% since 1980.
* In this context, middle class is defined as being individuals who have an average daily per capita expenditure of between $2 and $20 per day or an annual income exceeding $3,900. The middle class is projected to grow to 1.1 billion (42% of the population) by 2060.
34%
66%
African Middle Class
0
200
400
1980 1990 2000 2010
DIASPORA, AFRICA’S GLOBAL LEVERAGE
Annually, the global social sector spends over $200 billion dollars. Total foreign direct investment in Africa was $46 billion in 2011.
$62 billion dollars in remittances to Africa annually.
140 million Africans living outside of Africa (commonly referred to as the African
diaspora). 44 million Black-Americans in the US (Africans more than two generations
removed) with spending power of nearly $1 trillion dollars. 24 million Afro-Caribbean $47.4 billion (Combined GDP of Haiti, Jamaica, Barbados, Suriname, and Trinidad and
Tobago combined)
20062
46
Global Social Sector (AID)
Foreign Direct Investment (FDI)
Remittances
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Emanuel AttahFarmerline.org
Barbara BirungiNakazade
Ahmed MaawySiftDeck
Titus MawanoFfene.com
Su KahumbuiCow.co.ke
Eliot PenceUpstream Analytics
Francis OnwumereProWork.me
Eric MuttaMiniShop
William SenyoSliceBiz
MIAMI DADE COLLEGE
“Africa’s Third Act: Why the Continent Matters Now More Than Ever”
02/26/15
AFRICA’S THIRD ACTWHY THE CONTINENT MATTERS NOW MORE THAN EVER
Jon Gosier
