Why should we Bank on Africa? by Bruce Tendai Mubayiwa
Bruce Tendai Mubayiwa
Business Coach and Mentor | Strategist | Speaker | Co-founder,Editor @ LinkedInCoach.co.za + leading African Chess sites
Why should we bank on Africa?
There are a number of reasons why we should bank on Africa.
Of all the continents Africa has one of the youngest populations. This means that when one looks at the growth prospects of Africa the population will be more likely to contribute to the growth of the economy rather than depend on the economy to look after them. Some continent like Asia have countries like Japan where the population is now very old and will significantly affect the growth of the economy in the years and decades to come.
Economic freedom is coming
Closely linked to the fact that Africa has a young population is that the future generation of leaders in Africa will different political and leadership inclinations. The previous generations have been loyal to liberation movements and parties most of which have not delivered economic liberation for their people. The younger generations are much dynamic and will be results driven meaning they are more likely to vote with your heads rather than hearts. As a result of this we will see electorates than are much less tolerant of poor Governance and incompetence in Africa.
It is no secret at all that Africa is blessed with abundant mineral resources. Africa has so many resources from Cape to Cairo especially countries like DRC. It is for this reason that many countries in the west source a lot of resources from Africa. As the younger generation in Africa makes more sound economic decisions we are likely to see them seek greater control of their resources and wealth. Greater prospects for peace instability in Africa The future holds a greater prospects for peace and instability in Africa. Many of the democracies in Africa are still very young and in the coming decades we are likely to see the maturing of leadership across the continent. The maturing of leadership across Africa should bode well for peace and stability on the continent. For a very long time several countries on the continent have been ravaged by a never ending wars.
There is Huge appetite in Africa for new and emerging technologies. A number of countries in Africa are already running on 4G and some have done so without even passing through 3G. Big companies like Facebook and Google already have a presence in Africa and have seen the potential on the continent to contribute significantly to growth in the companies. Technology is going to be a huge driver of you economy growth in Africa. Across the continent the Internet is not only becoming cheaper but faster is well which means even more people are going to be accessing information.
When one looks at these factors it is easy to see why we should bank on Africa. There’s so much potential in Africa but the time is right for Africa to start realising its potential