Download - Growth Opportunities in an African Context
GROWTH OPPORTUNITIESIN AN
AFRICAN CONTEXT
AFRICA’S GROWING MIDDLE CLASS (AfDB)
• 313 million Africans have moved into the middle class (34% of the continent’s population). Of that number, 123 million belong to a more stable upper middle class.
• 600 million Africans are mobile phone users. By 2013, this number is expected to grow to 735 million.
• African consumer spending is projected to reach $1.4 trillion by 2020.
AFRICA’S GROWING MIDDLE CLASS (AfDB)
• Average consumer spend is $2 and $20 per day.
• Africa’s middle class is projected to grow to 1.1 billion (42% of the population) by 2060.
• Average GDP growth of the continent was 6% in 2011 and nearly 6% in 2012.
• African productivity is growing by nearly 3% per year.
CONNECTIVITY & PENETRATION
Internet PenetrationContinent:120 Million users (12%)2005 - 2011 Growth Rate: 428.7%
Mobile PenetrationContinent: 600 Million users (65%)2005 - 2011 Growth Rate: 380%
Mobile BroadbandContinent: 273.1 Million users2005 - 2011 Growth Rate: 446%
AFRICA’S TOP 5 INTERNET COUNTRIES (circa 2010)
NigeriaPopulation: 150m+Internet users: 11 millionGDP: $235.92 billion
Morocco Population: 32m+Internet users: 15.4 millionGDP: $100.22 billion
Egyptpopulation: 82m+internet users: 21.5 millionGDP: $229.53 billion
South AfricaPopulation: 50m+Internet users: 6 millionGDP: $400.24 billion
SudanPopulation: 34m+Internet users: 4 million GDP: $55.1 billion
CITATIONS
1 - The Guardian: Africa's burgeoning middle class brings hope to a continent2 - Vodafone Policy Paper Series 12 - Stupendous Value, Mobile Darwinism & the Next Phase of Growth3 - The Future of African Mobile Profitability: Stupendous Value, Mobile Darwinism & the Next Phase of Growth
by Jon Gosier ([email protected])