Investor and philanthropist George Soros has described Africa as ‘one of the few bright spots on the global economic horizon’, while consultants McKinsey say that the continent offers higher returns than any other developing region.
There has never been a better time to invest in Africa. Foreign investment in African economies reached $87 billion in 2014. Seven of the world’s 10 fastest growing economies are in sub-Saharan Africa, which boasts a middle class totalling 350 million people, larger than the population of the United States. And in just six years’ time, Africa’s hundreds of millions of consumers of financial services, telecommunications, and tourism and retail goods will contribute more than five times as much revenue to the continent’s economic growth as the natural resources industry.