Africa's development within the global economy: Ajen Sita, CEO, EY Africa

Ajen Sita, CEO, EY Africa

While Africa’s 2015 GDP is down 1.2% from 4.6% in 2014, it is still among the fastest growing regions in world.

As a continent with a population of over 1.2B people, massive commodity repositories – 1/10th of the world’s oil, 1/3rd of its mineral reserves, and 2/3rd of the world’s diamonds – and approximately 60% of the world’s uncultivated, arable land, Africa is set to play an increasingly important role as capital continues to shift in the global economy. And as China’s middle class advances their ascent, driving the cost of manufacturing in the region higher, if Africa can effectively develop its infrastructure in the next 1 – 2 decades, it may be well positioned to take up the role of providing low-cost manufacturing to the world.

With all of this in mind, if you are a multinational enterprise, or you have multinational clients, and are not keeping a close eye on Africa, you aren’t doing your job.

Read more: Ajen Sita, CEO Of EY Africa, On Africa’s Development Within The Global Economy – Forbes