There have been some negative news on different African economies since the recent drops in the prices of oil and other commodities, but there are new opportunities that businesses should be aware of and we at JobnetAfrica will name a few.
1. Africa’s GDP statistics show a misleadingly negative story
The continent’s GDP, annual productivity and foreign direct investment growth rates have all slowed in recent years. However, Africa’s overall growth slowdown largely reflects economic challenges in two distinct groups of countries, North Africa and the oil producing countries. For the rest of the continent, the GDP growth rate actually increased.
2. Large African companies are growing faster than global peers
The continent has 700 large companies and these are generally growing faster and are more profitable than their global peers.
Particularly within the wholesale and retail, food and agri-processing, healthcare, financial services, light manufacturing, and construction sectors.
3. B2B services represent a larger opportunity than consumer market
While Africa’s consumer market has made headlines over the last decade, the relatively untapped business-to-business (B2B) sector offers an even a larger opportunity. B2B demand is expected to grow by $1tr over the next decade to reach $3.5tr by 2025. Services consumption is set to grow the quickest.
You can read more about opportunities in Africa on How we made it in Africa.
In the meantime follow JobnetAfrica via Twitter, Facebook, Linkedin. Make sure you will receive our Vacancy Newsletter by signing up on our website so you are updated on new job openings in Africa regularly.