FS world population One in four will be African By 2050, one human being in four will be African, or of African origin, and the earth's population will number between 9m–10bn, says Gilles Pison, research director of the France’s National Institute of Demographic Studies.

he world population is expected to reach 7bn by the end of 2011, and 10bn by 2050. Africa’s population in June this year was estimated to be about 1.05bn.

oday, one inhabitant of the planet in seven is African and the human race is growing by two to three new people every second. In subSaharan Africa (SA), with an average of five children for each woman, fertility is decreasing more slowly than projected and the SA population is estimated to increase to nearly 3.4bn in 2050. Nigeria will become the world’s third most populous country with 433m, moving up from seventh in 2011 to come just behind China and India. There are 6.7m births annually in Nigeria, more than the 27 EU countries combined at 5.4m.

1.8bnGhanaearned$1.8bn from tourism in 2010 from 950,000 tourists who visited the country during the year.

1000

800

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■ Below poverty line ■ Above poverty line & below 5k GDP capita ■ Above 5k GDP per capita

Northern Africa illions min lation popu

Western Africa

775

456

200

264

340 322

194 272

129

35

43

63

63

1980 1990 2000 2015

African middle class on the rise There will be 475m new consumers in the next 15 years.

Africa has 90% of the world’s platinum, 50% of the world’s gold, 70% of the world’s coltan and 30% of the world’s diamond reserves.

GROWTH African economies grow apace During the past 10 years, six of the world’s fastestgrowing economies have been in sub-Saharan Africa, according to The Economist. Over the next five years, the Democratic Republic of the Congo, Ethiopia, Ghana, Mozambique, Nigeria, Tanzania and Zambia may grow at an average of 7.2% annually.

Over this period, the average African economy will outpace its counterpart in Asia. Africa has become an important emerging market and, compared with other regions, it has a relatively high rate of return on investments.

In many countries, political reform has accompanied economic growth, allowing local entrepreneurs to thrive. By 2030, Africa’s new middle class – more than 300m strong – will spend $2.2 trillion a year, which amounts to about 3% of worldwide consumption, according to the African Development Bank.

TRADE International companies court Africa Chinese companies are doing business in each of Africa’s 54 countries. Trade between China and Africa will almost triple to $300bn by 2015, according to Standard Bank of South Africa.

Companies from India and Brazil are likewise pursuing commercial opportunities across the continent. The EU is aggressively negotiating agreements that will give it businesses access to African markets as well. US companies have been slow to recognise the potential; however, US Secretary of State Hillary Clinton led a large delegation to Zambia in June in an effort to deepen US commercial relations.

INVESTMENT Chinese cars make inroads in Kenya The second Chinese vehicle maker to build an assembly plant in Kenya will be Chery Automobile, China’s largest carmaker. It hopes to invest around

Snippets Around Africa THIS MONTH

WORLD BANK The World Bank’s vice-president for Africa, Obiageli Ezekwesili (right), said Africa needs to achieve 7% growth to lift the majority of Africans out of poverty.

ANGOLA Angola produces 1.9m barrels of oil per day, Africa’s second biggest oil exporter. Nigeria regained the top spot in August with 2.4m bpd.

BOTSWANA After two decades of democracy and economic growth, the middle class is almost half the population. Total electricity net consumption per household has increased from 3,000 kWh to 8,000kWh.

ETHIOPIA The country is the world’s 10th-largest producer of livestock, including cattle, goats and sheep, exported throughout the Persian Gulf, the Middle East and Asia. It also exports a range of high-quality hides and skins.

GHANA Ghana is projected to become the thirdlargest oil producer in West Africa within five years and to earn 50% of its revenue from oil. Production from the Jubilee Fields Phase 1 is expected to reach 120,00 barrels a day.

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African Business | October 2011