Macro-economic environment
African Economies
- 10% of world's oil reserves
- 40% of world's gold reserves
- 60% of world's uncultivated, arable land
- One of only two regions (Asia) where GDP increased during global recession of 2009
- Collective inflation declined from over 20% in 1990's to under 10%
- Diverse economy: resources accounted for only 24% of Africa's GDP growth from 2000-2008 despite commodity boom
- Africa's consumer spending projected to be $1.4trn in 2020
- One of the last regions with a declining dependency ratio
- There are 52 African cities with more than 1m people
- Fastest growing labour force in the world
- By 2040, the labour force is projected to be the largest in the world (1.1bn). Africa will have a significant share of both global production and consumption
