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Increased urbanization, the creation of a middle class with greater purchasing power, and increased consumption of goods and services will all contribute to the growth of the economy. Retailers and consumer goods companies are experiencing growth.\nAfrica's development demonstrates characteristics that provide ample opportunity for the future, and five major trends have been reshaping African development.","image1":{"imageAlt":"Image"},"subHeadings":[{"title":"A larger, younger and more affluent population","descriptions":[{"text":"The fastest expanding labour force in the world, expected to reach 1.1 bn and surpass India and China by 2040."},{"text":"62% of Africa’s inhabitants are under the age of 25."},{"text":"Population growing at an average rate of 2.2% which is twice as high as the growth in Asia (0.9%)."}]},{"title":"Increased urbanization levels","descriptions":[{"text":"Currently, around 40% of Africans live in cities."},{"text":"By 2050, 63% of Africa’s population is expected to be urban and will see urbanization levels of around 80%."}]},{"title":"Increased spending power","descriptions":[{"text":"According to EIU, the continent's top 18 cities will have a combined spending power of US$1.3 trillion by 2030."},{"text":"According to the EIU, Africa's urban consumers are classified into three tiers:"},{"text":"The first tier is a 350m-500m rising and future middle-class market, similar to segments in India and China."},{"text":"The second tier is the number of consumers at the bottom of the pyramid, whose rise has been highlighted by the rise of mobile phone users."},{"text":"The third challenge is for businesses to transition from basic goods to affordable products."}]},{"title":"Higher internet and mobile phone penetration rates","descriptions":[{"text":"Africa has the world's fastest-growing mobile telecom market."},{"text":"Africa has surpassed Latin America to become the world's second-largest mobile market after Asia, with over 1 billion mobile connections."},{"text":"Mobile technology has enabled pioneering and leapfrogging technologies such as mobile money to flourish on the continent."}]},{"title":"Increased stability of the regulatory and financial sector","descriptions":[{"text":"African governments are eager to improve infrastructure and create the right economic and regulatory environment to attract FDI (e.g., foreign investment grants, implementing industrial development programs that benefit both local and foreign businesses, enacting policies related to the granting of construction permits, lifting various import restrictions, or improving the investment climate)."},{"text":"Several African countries now outperform many more developed economies in terms of ease of doing business, investor protection, and political risk."}]}]},"mainPitch":[{"icon":"integrity","title":"Ethically and with Integrity","description":"Afrik-US aims to work ethically and with integrity everywhere In Africa and the US. Our purpose is to create a mutually brighter more sustainable Africa.","linkLabel":"Read More","linkType":"internal","linkURL":"/about"},{"icon":"teamwork","title":"Aspirational Culture","description":"Our values form the foundation of our aspirational yet principled culture. They shape how we do business, govern our organization, and interact with our stakeholders.","linkLabel":"Read More","linkType":"internal","linkURL":"/about"},{"icon":"transfer","title":"Mutual Respect","description":"Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nunc nec lectus arcu. In malesuada felis nisl, nec fermentum nisi cursus et.","linkLabel":"Read More","linkType":"internal","linkURL":"/about"},{"icon":"integrity","title":"Ethically and with Integrity","description":"Afrik-US aims to work ethically and with integrity everywhere In Africa and the US. 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