The African population is growing in more than just numbers. With the continent spending 20% of GDP on education, the continent is growing more intelligent, city dwellers are on the rise and discretionary spending is becoming more and more evident as the demand for consumable goods grow year on year. There are 52 cities across Africa with more than a million inhabitants, many of which are improving on their financial standards. The continent is growing economically at an average rate of 6%, one of the highest rates globally, aiding to the ever improving spend ability.
The continent that is set to be home to 25% of the world’s work force by 2050, many of which will be skilled labourers or proficient business leaders, which will enable the continent to develop and grow significantly through development of technological and value adding goods, as opposed to the current reliance on the continents mineral resources. The influence the continent will therefore have on global consumption will become more significant.
Many trade unions have been created across the continent to free up trade restrictions and benefit from cheaper imports and exports, allowing each country to concentrate on the best contributions they can make while still enjoying the provision of other goods. These trade unions such as SADC (Southern African development community) and Southern African customs union are only two of several development blocs, created to improve the overall well-being of the countries as they benefit from economies of scale
As the continent is spending 20% of GDP on education, it shows that the requirements for success are being derived from grass roots level initiatives to ensure a sustainable and positive future. For a continent that has been bestowed the hindrance of being home to the most failed states, rebuilding and reinventing the governmental systems to be aligned with the modern world has become a pivotal aspect to grow a successful continent.