NEWSROOM (ADV) – The progress of Africa’s economy over the last decade has been remarkable. In 2018, seven African nations – Ethiopia, Ghana, Tanzania, Senegal, Morocco, Ivory Coast and Djibouti, – feature in the fastest-growing economies in the world.
The World Bank estimates economic growth in the Sub-Saharan regions to bulk out to a 3.6 percent average in 2019-20.
Global management consultants, McKinsey & Company report the region is showing the same signs as China before its explosive growth. Rapid urbanization and business-friendly reforms are helping to fuel economic growth.
With consumer spending expected to hit $25 trillion by 2025, Africa’s emerging markets present excellent opportunities for international trade, mergers and acquisitions.
There is certainly cause for optimism and as key industries drive economic growth, create more jobs and reduce poverty. African nations can look forward to improved infrastructure, better housing and a higher standard of living.
The future looks bright for Africa. As economies continue, there will be more scope to improve transportation networks, roads and housing. This will create more opportunities for entrepreneurs and skilled workers in key industries and raise living standards across the continent.
© Bur-csa – A.H / N.A – African Daily Voice (ADV) – Follow us on Twitter : @ADVinfo_eng