As African countries continue to modernize, the middle class will continue to grow. Within the next couple of decades, there will be a strong middle class in most African countries with a lot of buying power. Investors need to establish themselves in these markets now if they’re going to be able to take advantage and they’ll need local partners to do it.
More Youthful Demographic
Western populations are aging and that will lead to a shortage of potential employees in the not too distant future. In contrast, almost 50% of Africans are under the age of 20. This youthful population base will be a key advantage for Africa as they become more educated.
A modern educated population in countries such as Nigeria, South Africa, Tanzania, and Kenya can fill the gap for the labor shortage that’s coming in the west. By using local partners such as Shikana Law Group to establish themselves in these markets, smart investors will be ready for the challenges ahead.
Rapid Growth in Consumer Spending
The challenges are still considerable. Africa faces a shortage of reliable power, internet connectivity, and mobile communications. Regulatory reforms and infrastructure spending are changing the landscape though. As these things become more widespread, a strong consumer culture will follow.
