Africa’s Promise is in its People
One of Africa’s key strengths is its population. It is young, urbanising and fast-growing – in sharp contrast to most developed economies and even some large emerging markets such as China. Five countries – Nigeria, Ethiopia, the Democratic Republic of Congo, Tanzania and Uganda will account for half the region’s population growth to 2030. Many countries in the region are also benefitting from a demographic dividend – a point where the population of working age is increasing, whilst the fertility rate is in decline, and the population aged 65+ remains small. This increase in the share of the population that is in the working age-group, spurs economic growth.