{"componentChunkName":"component---src-templates-why-africa-page-js","path":"/why-africa/","result":{"data":{"markdownRemark":{"frontmatter":{"title":"Why Africa Now","image":{"childImageSharp":{"gatsbyImageData":{"layout":"constrained","backgroundColor":"#082868","images":{"fallback":{"src":"/static/3c9eb70e9554842c58cf81c8b68734de/90e81/connecting.jpg","srcSet":"/static/3c9eb70e9554842c58cf81c8b68734de/2ea36/connecting.jpg 1038w,\n/static/3c9eb70e9554842c58cf81c8b68734de/88f04/connecting.jpg 2076w,\n/static/3c9eb70e9554842c58cf81c8b68734de/90e81/connecting.jpg 4151w","sizes":"(min-width: 4151px) 4151px, 100vw"},"sources":[{"srcSet":"/static/3c9eb70e9554842c58cf81c8b68734de/faef5/connecting.webp 1038w,\n/static/3c9eb70e9554842c58cf81c8b68734de/9d9e2/connecting.webp 2076w,\n/static/3c9eb70e9554842c58cf81c8b68734de/d0f3e/connecting.webp 4151w","type":"image/webp","sizes":"(min-width: 4151px) 4151px, 100vw"}]},"width":4151,"height":1500}}},"aboutUs":{"tagline":"Why Africa Now","heading":"Transformative Potential of Africa","description":null,"paragraph1":"While Africa's growth remains inextricably linked to rising demand for oil, gas, and minerals, which have long been the continent's economic backbones, other economic segments are starting to boom. 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.","paragraph2":"Africa's development demonstrates characteristics that provide ample opportunity for the future, and five major trends have been reshaping African development.","image1":{"imageAlt":"Image","image":{"childImageSharp":{"gatsbyImageData":{"layout":"constrained","backgroundColor":"#081828","images":{"fallback":{"src":"/static/1c5dcb6be668f10f943b54d82403bc9e/987ab/black-girls-city.jpg","srcSet":"/static/1c5dcb6be668f10f943b54d82403bc9e/3f4ea/black-girls-city.jpg 600w,\n/static/1c5dcb6be668f10f943b54d82403bc9e/8dbcc/black-girls-city.jpg 1200w,\n/static/1c5dcb6be668f10f943b54d82403bc9e/987ab/black-girls-city.jpg 2400w","sizes":"(min-width: 2400px) 2400px, 100vw"},"sources":[{"srcSet":"/static/1c5dcb6be668f10f943b54d82403bc9e/9ff6b/black-girls-city.webp 600w,\n/static/1c5dcb6be668f10f943b54d82403bc9e/f2559/black-girls-city.webp 1200w,\n/static/1c5dcb6be668f10f943b54d82403bc9e/15fc2/black-girls-city.webp 2400w","type":"image/webp","sizes":"(min-width: 2400px) 2400px, 100vw"}]},"width":2400,"height":1600}}}}},"whyAfrica":{"tagline":"","heading":"Five Major Trends Reshaping Africa Development","description":"While Africa's growth remains inextricably linked to rising demand for oil, gas, and minerals, which have long been the continent's economic backbones, other economic segments are starting to boom. 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":{"image":{"childImageSharp":{"gatsbyImageData":{"layout":"constrained","backgroundColor":"#181818","images":{"fallback":{"src":"/static/edbd808c4a145f3dcb4e5f7a3526cfe9/8c963/johannesburg.jpg","srcSet":"/static/edbd808c4a145f3dcb4e5f7a3526cfe9/c6a34/johannesburg.jpg 1008w,\n/static/edbd808c4a145f3dcb4e5f7a3526cfe9/1c9df/johannesburg.jpg 2016w,\n/static/edbd808c4a145f3dcb4e5f7a3526cfe9/8c963/johannesburg.jpg 4032w","sizes":"(min-width: 4032px) 4032px, 100vw"},"sources":[{"srcSet":"/static/edbd808c4a145f3dcb4e5f7a3526cfe9/f5a09/johannesburg.webp 1008w,\n/static/edbd808c4a145f3dcb4e5f7a3526cfe9/d9ce2/johannesburg.webp 2016w,\n/static/edbd808c4a145f3dcb4e5f7a3526cfe9/3d35b/johannesburg.webp 4032w","type":"image/webp","sizes":"(min-width: 4032px) 4032px, 100vw"}]},"width":4032,"height":3024}}},"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."},{"text":"Businesses will need to consider this customer segmentation when developing market entry and growth strategies."}]},{"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."}]}]},"seo":{"browserTitle":"Afrik-US | Why Africa Now","title":"Transformative Potential of Africa | Afrik-US","description":"Africa's growth remains inextricably linked to rising demand for oil, gas, and minerals."}}}},"pageContext":{"id":"524521d1-0131-509f-a2fa-f9a79593c296"}},"staticQueryHashes":["1288011453","4080856488"]}