Last year, a record $4bn (€3.7bn) was ploughed into private equity fundraising in Africa.
The growth of the African middle class, rapid urbanisation, along with increased GDP per head, is creating a sizeable consumer class across the continent.
Demographic statistics suggest that Africa already has a larger middle class – earning the equivalent of more than $20,000 per year – than India.
By 2030, it is forecast that more than half of Africa’s population will live in urban areas, up from one-third today. These trends, along with GDP growth rates in excess of 4-5%, all support forecasts of growth in the consumer goods and services sectors, which will open up investment opportunities.