Browsing: Africa’s emerging economies

Financial Literacy in Africa

Enhancing financial literacy is only one of the numerous ways Africa’s youth may be prepared for the future. Stakeholders must simplify financial literacy education and make it practical. Without simplified and functional financial literacy, one could fall victim to the prevailing financial challenges in a highly changing world marked by technological advancements. Improving financial literacy in Africa’s youth will help improve financial inclusion.

Rising income levels among all socioeconomic classes are seeing an increase in the demand for goods and services and firms should consider introducing their products to the continent since there are lucrative investment, production, and distribution opportunities all over Africa.
According to Brookings Institute, the sectors to look out for and invest in include the Fast-Moving Consumer Goods (FMCG), online retail and luxury goods.

The country’s changing demographics and improved business environment are among factors contributing to increasing consumption. Continent-wide, this consumption is predicted to hit US$2.5 trillion by 2030.  

In less than 10 years, seven Sub-Saharan African countries including Kenya, Tanzania, Ethiopia, the Democratic Republic of Congo (DRC), Nigeria, Egypt and South Africa will be home to half of Africa’s population. Of this, an estimated 43 per cent of Africans across the continent will be in the middle or upper classes.

The country’s changing demographics and improved business environment are among factors contributing to increasing consumption. Continent-wide, this consumption is predicted to hit US$2.5 trillion by 2030.  

In less than 10 years, seven Sub-Saharan African countries including Kenya, Tanzania, Ethiopia, the Democratic Republic of Congo (DRC), Nigeria, Egypt and South Africa will be home to half of Africa’s population. Of this, an estimated 43 per cent of Africans across the continent will be in the middle or upper classes.