Macro-economic environment

African Economies

  • 10% of world's oil reserves
  • 40% of world's gold reserves
  • 60% of world's uncultivated, arable land
  • One of only two regions (Asia) where GDP increased during global recession of 2009
  • Collective inflation declined from over 20% in 1990's to under 10%
  • Diverse economy: resources accounted for only 24% of Africa's GDP growth from 2000-2008 despite commodity boom
  • Africa's consumer spending projected to be $1.4trn in 2020
  • One of the last regions with a declining dependency ratio
  • There are 52 African cities with more than 1m people
  • Fastest growing labour force in the world
  • By 2040, the labour force is projected to be the largest in the world (1.1bn). Africa will have a significant share of both global production and consumption

Africa map