Doing business on the African continent is becoming big business. In the past few years, sub-Saharan Africa has experienced unprecedented growth and that trend will undoubtedly continue. That’s left many investors scrambling to get their foot in the door, but investing in Africa presents unique challenges. For a business to be successful, it needs to employ local partners with the legal and regulatory expertise to navigate the tricky landscape.
In spite of these hurdles, global economic experts are enthusiastic about Africa’s prospects. GDP growth on the continent exceeds most other regions and this trend will continue for decades to come. It’s present in all sectors of the economy from natural resources to technology and the internet.
Expanding Middle Class
In Europe and North America, the middle class is well established and there isn’t a lot of room for growth. In Africa, it’s an entirely different story. In most African countries, the middle class makes up about 3% of the population. This may seem like a market with little potential, but that middle class is growing at a steady pace due to market and democratic reforms.
