Despite the recent prediction by the World Bank that economic growth in sub-Saharan Africa will slow in 2015, the region is still home to one of the fastest-growing middle-class in the world.
As a result, there are vast opportunities on the continent for progressive African entrepreneurs and small and medium enterprises (SMEs) to take advantage of.
Charles Brewer, managing director of DHL Express Sub-Saharan Africa (SSA), says one sector providing plentiful prospects is the agricultural industry, which is Africa’s largest economic sector representing 15 percent of the continent’s total GDP and more than $100 billion per year.
“It is estimated that more than 60 percent of the globe’s available and vacant land is situated in SSA, which suggests that the sector still offers incredible growth.”
Another industry seeing significant growth is the banking sector, which has grown extensively over the last decade and has become a substantial player in emerging-market banking.
Brewer says that the rising middle class and ‘unbanked’ African consumers should continue to drive the industry. “Other industries experiencing growth and offering prospects on the continent include technology, consumer goods and telecommunications.”
In addition to these thriving industries, Brewer identifies five unexpected ‘boom towns’ and cities that are enjoying growth on the back of these industries, therefore providing opportunities for African businesses: “DHL is present in every African country and territory, with 37 years of express logistics experience on the continent. With our extensive footprint in Africa, we are uniquely positioned to service these burgeoning industries,” says Brewer.
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