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- Africa’s urban population is poised to hit almost one billion in 2035.
- This population explosion poses both threats and opportunities.
- Population growth will grow more dynamic and wealthier consumer markets.
The ongoing population explosion in Africa poses both opportunities for economic growth and threats that could dampen the hopes for billions of people. According to the latest surveys, the African continent is expected to record one of the fastest rates of population growth worldwide.
For instance, insights from the Economist Intelligence Unit’s African Cities 2035 report states, “African cities will record rapid urbanization in the next decade, creating a mixed bag of socio-economic opportunities and challenges.”
“Africa has and will continue to have the fastest rate of urbanization of the world’s major regions through 2035. Africa’s urban population will rise from about 650 million in 2023 to almost one billion in 2035,” reads the report in part.
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