New land to invest:Africa
When you think of Africa, what comes to your mind? For ordinary Americans, there are any misconceptions about this great, beautiful continent (not the country)
When you think of Africa, what comes to your mind? For ordinary Americans, there are any misconceptions about this great, beautiful continent (not the country). We can imagine a poor world where the majority of people live in mud huts with no internet or advanced technology of any kind.
We can think of beautiful gardens and herds of wildlife, but we can also imagine that such things, and nothing else, covered the whole continent. We think of countries plagued by empty war outside of corrupt government programs; we think of diseases; we think of hunger. We may not be completely blamed for these erroneous ideas.
After all, we have all grown up with much of our exposure to Africa that comes mainly from the advertisements of charities, which were intended to evoke emotional response so that we can help support their good work. Our common consensus would be that Africa is a place where we need help, but boy have we sinned!
invest in africa
In fact, Africa thrives in many ways, and in some cases surpasses Western civilization. In fact, by 2019, the 5 fastest growing economies in the world were in the African continent, growing more than 2x the global average. Currently, Africa is growing faster than any other region in the world, and it is predicted that 65% of the continent will be economically middle class by 2025.
It is the working age people who will soon surpass those in China and India, and half the population of the continent living in the big cities; Africa is poised to be the only continent to achieve two-digit economic growth over the next ten years.
Not only is the African economy growing exponentially, but entrepreneurs make up 22% of the working population. Seventy percent of Africans graduating from the top ten universities in the United States and Europe intend to use their education in their home countries in Africa.
Truth be told, there are more entrepreneurs in Africa than anywhere else in the world, and most of those entrepreneurs are women. No less than 27% of African women are involved in business ventures. The gender pay gap remains a problem, but finding solutions to that could boost the Sahara economy by another $ 105 billion a year.
The African continent is full of investment opportunities, its major industries and opportunities in agriculture, health, education, energy, and finance.
About 60 percent of the world's arable land is in Africa, but it is still under ban due to food security and agricultural infrastructure. Twelve percent of Africa's yields are lost annually and sub-Saharan Africa generates $ 15 billion in crops, annually. Investment and infrastructure changes could triple Africa's agricultural yield.
The African health sector is one of the most powerful areas for economic growth. Africa is home to 16% of the world's population, but only 2% of the world's doctors. This descriptive measure has created a thriving market for medical technology, with the African health sector expected to reach $ 37.1 billion by 2024.
Energy, education, and finance, the other three leading industries in Africa, are all ready to grow vigorously and not only develop the African economy, but are confident that they will grow significantly in the global economy.
Africans are not the only ones who know and understand the growth and power of their economic community, which is often misunderstood; investors and major technologies are also being considered. In fact, Accra, Ghana is now the home of the Google AI lab.
The focus of the AI lab is to differentiate the data sets used for AI training; implementing AI solutions to local challenges; and improve Google Translate's ability to capture African languages (no, Africa is not a language - another common myth).
business investment in africa
Lagos, Nigeria is also home to new Facebook offices. Facebook plans to use the site as a new technology platform to improve startups. They also plan to use the 37,000 km internet cable circuit around the African continent.
Microsoft has also been interested in Africa. Nairobi, Kenya is home to the Microsoft African Research Institute (MARI) and the Microsoft African Development Center (ADC). Microsoft plans to invest $ 100 million in new technology over the first 5 years, while MARI is focused on improving product through AI and tech.