Africa's Future - Article Review DP

Title: Why Africa's Future is Happening Now

Citation: https://www.fdiintelligence.com/content/opinion/opinion-why-africas-future-is-now-83255

Africa is growing fast, and African countries are trading more with each other than before. This is because of important reasons and new plans that have never existed until now.

One big reason is that Africa has the youngest people in the world. About 70% of people in sub-Saharan Africa are under 30 years old. By 2050, Africa's total population will double from 1.25 billion to 2.5 billion people. 800 million more people will be able to work.

Africa is also having more people move from rural areas into cities faster than anywhere else. Over the next 20 years, it is predicted that over 500 million Africans will leave the countryside and go live in cities.

Right now, only around 15% of products exported from African countries go to other African countries. In other world regions like Europe and Asia, that percentage is 60% or higher. This low number shows lots of room for African countries to trade more with each other.

Businesses and governments in Africa are working hard to increase manufacturing and trading within Africa. If successful, this will make economies grow faster and create many new jobs that are needed.

But for Africa's full potential to happen, some critical things need to be built first. One is infrastructure, which means basic systems and facilities like roads, ports, water pipes, industrial parks, and internet/phone networks. The African Development Bank says $100 billion per year is needed to build enough infrastructure.

Another key need is making enough energy and getting it to factories and cities. Luckily, Africa has lots of renewable energy sources like geothermal heat, wind power, and hydroelectric dams that can make electricity. Countries like Ethiopia and Kenya already get most of their electricity this way.

None of this progress will happen without also getting enough financing or money for big projects and small/medium businesses. Banks like the African Export-Import Bank and African Development Bank are helping companies get loans and learn about trading across borders.

Setting up rules for pan-African trade is another critical piece. The Africa Continental Free Trade Area agreement, started in 2021, could be a game-changer. So far 54 African countries have joined to allow products, services and people to move freely across the continent. Experts predict this could increase trade within Africa by 34% by the year 2045.

The final need is making networks so companies across Africa's 54 countries can easily find partners to trade and invest with each other. Groups like the World Trade Centers Association are helping with this.

There are still challenges, like making sure countries follow the new trade rules over time. Creating enough jobs for Africa's growing youth population will also be hard. Some people are still nervous to invest in Africa.

However, leaders across Africa are very determined to make this future happen. They are welcoming more business from overseas as the critical infrastructure gets built.

Title: Why Africa's Future is Happening Now

Citation: https://www.fdiintelligence.com/content/opinion/opinion-why-africas-future-is-now-83255

Africa is growing fast, and African countries are trading more with each other than before. This is because of important reasons and new plans that have never existed until now.

One big reason is that Africa has the youngest people in the world. About 70% of people in sub-Saharan Africa are under 30 years old. By 2050, Africa's total population will double from 1.25 billion to 2.5 billion people. 800 million more people will be able to work.

Africa is also having more people move from rural areas into cities faster than anywhere else. Over the next 20 years, it is predicted that over 500 million Africans will leave the countryside and go live in cities.

Right now, only around 15% of products exported from African countries go to other African countries. In other world regions like Europe and Asia, that percentage is 60% or higher. This low number shows lots of room for African countries to trade more with each other.

Businesses and governments in Africa are working hard to increase manufacturing and trading within Africa. If successful, this will make economies grow faster and create many new jobs that are needed.

But for Africa's full potential to happen, some critical things need to be built first. One is infrastructure, which means basic systems and facilities like roads, ports, water pipes, industrial parks, and internet/phone networks. The African Development Bank says $100 billion per year is needed to build enough infrastructure.

Another key need is making enough energy and getting it to factories and cities. Luckily, Africa has lots of renewable energy sources like geothermal heat, wind power, and hydroelectric dams that can make electricity. Countries like Ethiopia and Kenya already get most of their electricity this way.

None of this progress will happen without also getting enough financing or money for big projects and small/medium businesses. Banks like the African Export-Import Bank and African Development Bank are helping companies get loans and learn about trading across borders.

Setting up rules for pan-African trade is another critical piece. The Africa Continental Free Trade Area agreement, started in 2021, could be a game-changer. So far 54 African countries have joined to allow products, services and people to move freely across the continent. Experts predict this could increase trade within Africa by 34% by the year 2045.

The final need is making networks so companies across Africa's 54 countries can easily find partners to trade and invest with each other. Groups like the World Trade Centers Association are helping with this.

There are still challenges, like making sure countries follow the new trade rules over time. Creating enough jobs for Africa's growing youth population will also be hard. Some people are still nervous to invest in Africa.

However, leaders across Africa are very determined to make this future happen. They are welcoming more business from overseas as the critical infrastructure gets built.

Title: Why Africa's Future is Happening Now

Citation: https://www.fdiintelligence.com/content/opinion/opinion-why-africas-future-is-now-83255

Africa is growing fast, and African countries are trading more with each other than before. This is because of important reasons and new plans that have never existed until now.

One big reason is that Africa has the youngest people in the world. About 70% of people in sub-Saharan Africa are under 30 years old. By 2050, Africa's total population will double from 1.25 billion to 2.5 billion people. 800 million more people will be able to work.

Africa is also having more people move from rural areas into cities faster than anywhere else. Over the next 20 years, it is predicted that over 500 million Africans will leave the countryside and go live in cities.

Right now, only around 15% of products exported from African countries go to other African countries. In other world regions like Europe and Asia, that percentage is 60% or higher. This low number shows lots of room for African countries to trade more with each other.

Businesses and governments in Africa are working hard to increase manufacturing and trading within Africa. If successful, this will make economies grow faster and create many new jobs that are needed.

But for Africa's full potential to happen, some critical things need to be built first. One is infrastructure, which means basic systems and facilities like roads, ports, water pipes, industrial parks, and internet/phone networks. The African Development Bank says $100 billion per year is needed to build enough infrastructure.

Another key need is making enough energy and getting it to factories and cities. Luckily, Africa has lots of renewable energy sources like geothermal heat, wind power, and hydroelectric dams that can make electricity. Countries like Ethiopia and Kenya already get most of their electricity this way.

None of this progress will happen without also getting enough financing or money for big projects and small/medium businesses. Banks like the African Export-Import Bank and African Development Bank are helping companies get loans and learn about trading across borders.

Setting up rules for pan-African trade is another critical piece. The Africa Continental Free Trade Area agreement, started in 2021, could be a game-changer. So far 54 African countries have joined to allow products, services and people to move freely across the continent. Experts predict this could increase trade within Africa by 34% by the year 2045.

The final need is making networks so companies across Africa's 54 countries can easily find partners to trade and invest with each other. Groups like the World Trade Centers Association are helping with this.

There are still challenges, like making sure countries follow the new trade rules over time. Creating enough jobs for Africa's growing youth population will also be hard. Some people are still nervous to invest in Africa.

However, leaders across Africa are very determined to make this future happen. They are welcoming more business from overseas as the critical infrastructure gets built.

Title: Why Africa's Future is Happening Now

Citation: https://www.fdiintelligence.com/content/opinion/opinion-why-africas-future-is-now-83255

Africa is growing fast, and African countries are trading more with each other than before. This is because of important reasons and new plans that have never existed until now.

One big reason is that Africa has the youngest people in the world. About 70% of people in sub-Saharan Africa are under 30 years old. By 2050, Africa's total population will double from 1.25 billion to 2.5 billion people. 800 million more people will be able to work.

Africa is also having more people move from rural areas into cities faster than anywhere else. Over the next 20 years, it is predicted that over 500 million Africans will leave the countryside and go live in cities.

Right now, only around 15% of products exported from African countries go to other African countries. In other world regions like Europe and Asia, that percentage is 60% or higher. This low number shows lots of room for African countries to trade more with each other.

Businesses and governments in Africa are working hard to increase manufacturing and trading within Africa. If successful, this will make economies grow faster and create many new jobs that are needed.

But for Africa's full potential to happen, some critical things need to be built first. One is infrastructure, which means basic systems and facilities like roads, ports, water pipes, industrial parks, and internet/phone networks. The African Development Bank says $100 billion per year is needed to build enough infrastructure.

Another key need is making enough energy and getting it to factories and cities. Luckily, Africa has lots of renewable energy sources like geothermal heat, wind power, and hydroelectric dams that can make electricity. Countries like Ethiopia and Kenya already get most of their electricity this way.

None of this progress will happen without also getting enough financing or money for big projects and small/medium businesses. Banks like the African Export-Import Bank and African Development Bank are helping companies get loans and learn about trading across borders.

Setting up rules for pan-African trade is another critical piece. The Africa Continental Free Trade Area agreement, started in 2021, could be a game-changer. So far 54 African countries have joined to allow products, services and people to move freely across the continent. Experts predict this could increase trade within Africa by 34% by the year 2045.

The final need is making networks so companies across Africa's 54 countries can easily find partners to trade and invest with each other. Groups like the World Trade Centers Association are helping with this.

There are still challenges, like making sure countries follow the new trade rules over time. Creating enough jobs for Africa's growing youth population will also be hard. Some people are still nervous to invest in Africa.

However, leaders across Africa are very determined to make this future happen. They are welcoming more business from overseas as the critical infrastructure gets built.