Big Tech Embraces Big Opportunities in the African Economy (Infographic)
- Jun 10, 2021 10:17 am GMT
In recent years, Facebook, Microsoft, and Google have all had their eyes on expansion and investment in countries that might seem obscure to the average American. These countries may not be what come to mind when considering growth or progressive tech opportunities. They are all located on the continent of Africa. From an investment and financial perspective, investing in Africa might not be on the radar for many US citizens, but it’s time to take a closer look.
In 2019, Africa was home to the top five fastest growing economies in the world. African economies are expanding at a rate of 2x faster than the global economic average. Africa is the home of 16% of the world’s population, but only 3% of the global GDP, but this is changing rapidly. By 2025, it’s estimated that 65% of the African population will be considered middle class. Nearly half of the population will live in large cities, and with a working- age population that is surpassing those of India and China, Africa’s GDP is projected to reach $4.5 trillion over the next 4 years.
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