The World's Fastest - Growing Continent

As The ‘Africa Rising’ Narrative Continues To Build Momentum, How Can Savvy Investors Find Opportunities In This Emerging Region?

- Finbarr Toesland

THE WORLD’S FASTEST-GROWING CONTINENT

In just two decades, Africa’s position on the global stage has undergone a serious transformation. Many African countries have grown at strong rates, with the continent boasting six of the world’s 12 fastest-growing economies. This diverse continent is home to countless companies that are on the cusp of becoming regional leaders and many will soon play a central role in the worldwide business ecosystem.

In this environment, it’s not difficult to see why foreign countries, especially China, are heavily investing in opportunities throughout Africa. The People’s Republic is now Africa’s largest trading partner and continues to pour money, through aid and loans on favourable terms, into the region. For example, from 2013 to 2017, the East African nation of Kenya saw its trade volume with China grow by 59 per cent to total US$5.2 billion (A$7 billion).

SPARKING WESTERN INTEREST

Western nations are falling behind China in the new scramble for Africa and risk becoming increasingly irrelevant to African companies and countries if they don’t make meaningful efforts to engage the continent.