There are a number of opportunities that have come together to unlock this transformative growth, and these all feed into the continent's upward economic progression. Having been recognized in many African countries for his charitable and philanthropic work, Alessandro Bazzoni has a vested interest in Africa's potential for sustained economic growth.
A rapidly urbanising and growing population
Currently, Africa has a population of about 1.2 billion, and this figure has been estimated to reach around 1.7 billion within the next decade. Over 80% of this population growth will almost certainly take place in cities, and this makes Africa the world's most rapidly urbanising region. Bazzoni points out that incomes are also rising across much of Africa, and this is opening up new opportunities within the consumer marketplace for businesses.
An industrialising continent
An industrial revolution in Africa is taking place, with manufacturers ramping up their production of a wide range of goods. Manufacturing of exports is also likely to occur, and Bazzoni believes that Africa will become the next world manufacturing centre that will overtake China as the lowest-cost region.
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