Africa's Third Act: Why the Continent Matters Now More than Ever #BTW2015
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Africa is experiencing strong economic growth, with its economic output increasing almost fourfold since 2000. More countries in Africa are growing at 7% annually than in Asia. Africa's middle class has grown significantly, with over 300 million Africans now considered middle class. Remittances and foreign direct investment in Africa are growing as well. The continent is poised to play a larger geopolitical role and its diaspora populations and growing consumer markets make Africa's economy and global influence increasingly important.
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Africa's Third Act: Why the Continent Matters Now More than Ever #BTW2015
- 1. AFRICA’S THIRD ACT WHY THE CONTINENT MATTERS NOW MORE THAN EVER Jon Gosier
- 2. MIAMI DADE COLLEGE “Africa’s Third Act: Why the Continent Matters Now More Than Ever” 02/26/15 Jon Gosier jon@gosier.org
- 5. 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.
- 7. AFRICA ACCELERATES PAST ASIA No. of Countries Growing at 7% avg. Africa’s economic output (in billions) Diversification and Industries Driving Growth
- 8. GROWING CONSUMER MARKETS 327 million Africans have moved into the middle class* (34% of the continent’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
- 9. 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) 200 62 46 Global Social Sector (AID) Foreign Direct Investment (FDI) Remittances
- 15. Assane Seck Ecofund.org Emanuel Attah Farmerline.org Barbara Birungi Nakazade Ahmed Maawy SiftDeck Titus Mawano Ffene.com Su Kahumbu iCow.co.ke Eliot Pence Upstream Analytics Francis Onwumere ProWork.me Eric Mutta MiniShop William Senyo SliceBiz
- 17. MIAMI DADE COLLEGE “Africa’s Third Act: Why the Continent Matters Now More Than Ever” 02/26/15 Jon Gosier jon@gosier.org
- 18. AFRICA’S THIRD ACT WHY THE CONTINENT MATTERS NOW MORE THAN EVER Jon Gosier