Table of Contents
Top 18 African countries by GDP. Credit: knightfrank.com
Top 24 fastest-growing economies in Africa (2015-2019). Credit: knightfrank.com
Africa: The growth continent
The economies of Africa
Africa’s population growth
Africa prime rent ranking
Africa commercial occupier guide
Country-specific analysis: 30 countries
Knight Frank in Africa
Read the full report below.
The Africa Report is a unique and market-leading publication which draws on the expertise of Knight Frank’s unrivalled network of property professionals in Africa.
The report presents a wealth of material highlighting the growth of Africa’s economies, cities and real estate markets. Detailed profiles are provided for 30 African countries, along with summaries of prime rents and yields in these markets.
Recommended: Real estate: Building the future of Africa – PwC (Report)
Africa’s rapidly growing property markets are attracting increased interest from international investors, developers and occupiers.
By 2100, it is projected that nearly 40% of the world’s population will live in Africa
Over the next five years, 13 of the 20 fastest-growing economies in the world are forecast to be in Africa
Nigeria is now recognised as Africa’s largest economy, following a recalculation of its GDP in 2014
The rise of the urban middle class is encouraging modern retail development in many of the continent’s major cities
Prime office rents in Luanda, Angola, are among the highest in the world at US$150 per sq m per month
Recommended: Into Africa: The continent’s Cities of Opportunity – PwC (Video, Slides, and Report)
The rapidly growing economies of Africa are catching the attention of increased numbers of property investors and corporate occupiers. Africa is no longer viewed as a region of long term economic distress, but is increasingly seen as a continent of opportunity.
Africa’s economic growth began to accelerate around the turn of the century, following several decades of economic stagnation. Since 2000, Africa has averaged growth of over 5% per annum, with the Sub-Saharan region averaging growth of close to 6%. The larger emerging economies of this region, such as Nigeria, Kenya, Angola and Ethiopia, have increasingly been the key drivers of the continent’s growth.
Recommended: The role of cities in Africa’s rise: KPMG (Infographics & Report)
Rising commodity prices have been an important factor behind Africa’s growth over the last 15 years, particularly in major oil-exporting countries such as Nigeria and Angola. However, Africa’s economic progress has derived from diverse sources and, according to McKinsey, the large majority of recent growth has come from non-commodity sectors. Underlining this, one of Africa’s fastest growing economies in recent years has been Ethiopia; a country with meagre mineral resources, whose growth has originated from industries such as manufacturing, agriculture and construction.
Nonetheless, the economic outlook for many African economies has been clouded by the steep fall in oil prices that started in the middle of 2014 and continued into 2015. The International Monetary Fund has revised downwards its GDP growth forecasts for Africa and now expects Sub-Saharan growth to be below 5% in 2015. The short term outlook for Nigeria, in particular, has weakened.
Recommended: Quintin Primo’s Capri Africa raising up to $300M for Africa real estate investment fund
Sub-Saharan GDP growth is forecast to move back above 5% in 2016, and to strengthen in subsequent years. This suggests that, as many African economies have diversified and reduced their dependency on commodities, the recent collapse in oil prices may have a less severe impact on Africa than historical commodity price downturns. With sectors such as telecommunications and financial services being increasingly important drivers of growth, Africa will maintain its position as one of the world’s fastest growing economic regions.
Unable to view the “Africa Report 2015 – Real Estate Markets in a Continent of Growth and Opportunity: Knight Frank” report below? Download it here
Africa Report 2015 – Real Estate Markets in a Continent of Growth and Opportunity: Knight Frank
- Compelling investment markets in Africa – Inside Riscura’s Bright Africa 2015 Report: Debbie O’Hanlon, Senior Analyst, RisCura (Infographics)
- Real GDP Growth Rates (2007 – 2017) of Countries in Africa (Interactive Map & Chart)
- 3 reasons things are looking up for African economies: McKinsey & World Economic Forum
- Shop Africa 2016 (Report & Infographics): Knight Frank
- Africa’s Prospects – Macro Environment, Business, Consumer and Retail Outlook Indicators (Infographics & Report): Nielsen
- Into Africa: The continent’s Cities of Opportunity – PwC (Video, Presentation, and Report)
- African Markets Guide 2015: Barclays (Report)
- MasterCard and Ecobank partner to accelerate electronic payments adoption in 28 Sub-Saharan African countries
- Africa attractiveness program 2016: EY (Infographics & Reports)
- Why you should take chances: Marek Zmyslowski, Managing Director of top African hotel booking website Jovago (Video)
- IPO Watch Africa 2014: PwC (Infographics & Report)
- Tourism in Africa: On the rise but has not at its full potential
- Starwood Hotels accelerates growth in Africa with seven new deals
- Africa Exchange Guide 2015: African Alliance Capital Markets (Presentation)
- The 2015 African Retail Development Index (Infographics, Video & Report): AT Kearney
- Africa50 Infrastructure Fund raises $830M in first closing
- The mobile economy – Africa 2016: GSMA (Infographics & Report)
- Which African countries will see the greatest growth in millionaires over the next 10 years?
- Africa’s richest man plans to almost double the continent’s cement production by 2020 (Infographic)
- Africa Asset Management 2020: PwC (Infographics & Report)
- FastJet seeks South African investors to fund growth in bid to become the “first pan-African discount airline”
- Sub-Saharan Africa’s most and least resilient economies (Infographics): Anna Rosenberg, Head, Sub-Saharan Africa Research, Frontier Strategy Group
- The IMF Says The World’s In A Mess – But Not Africa
- How not to write about Africa: Use “African Spring”
- Spotlight on Southern Africa Private Equity (Report & Infographic): African Private Equity and Venture Capital Association (AVCA)
- Citi to Deutsche Bank on charm offensive in Africa as banks clamor for bond issuance deals
- Africa’s megaprojects: 326 billion reasons Africa is on the move (Photos, Infographic & Video)
- Africa: A growing insurance market
- Rate cuts & healthy FX reserves pave way for next bull run in Africa’s markets: Ryan Hoover, Portfolio Manager, Africa Capital Group
- Full transcript: FT interview with Mac Maharaj on Mandela, Zuma and South Africa
- Real estate: Building the future of Africa – PwC (Report)
- Why I cannot tell ‘the African story’: Nancy Kacungira, News Anchor, KTN (Infographic)
- Lions go global: Deepening Africa’s ties to the United States
- South Africa losing buyout allure to fast-growing Sub-Saharan African rivals
- Kenya’s Equity Bank to expand to the DRC via acquisition in first step outside East Africa
- Kenya’s Equity Bank plans 10-nation Africa expansion, says CEO James Mwangi
- Real Estate Transparency Improves in Sub-Saharan Africa
- African tech startups raise record-breaking $370M in 2016: Partech Ventures (Infographic)
- Africa’s millionaires are in Nigeria, Egypt, South Africa with some in Kenya too (Infographics)
- Goldman Sachs & MTN to invest $245M in Nigerian e-commerce firm Africa Internet Group (AIG)