Africa: A continent of new consumers

Morningstar’s long-term approach to analyzing companies requires careful analysis of Africa, which we expect to become an increasingly fertile region for consumer spending over the next several decades.

Several tailwinds drive these expectations: favorable demographic trends, including a large, young, and rapidly growing population; wealth creation and the growth of Africa’s consuming class; urbanization and infrastructure investments; and favorable regulatory reform.

Read more: A Continent of New Consumers.