Sub-Saharan Africa is poised to experience a significant demographic shift, with its share of the global working-age population projected to increase from 10 percent to 25 percent in the coming decades.
This forecast comes from a new report by Bridgewater Associates, a leading global hedge fund and macroeconomic research firm, in collaboration with Global Citizen and Harith General Partners.
The research highlights the immense economic potential of Sub-Saharan Africa’s rapidly growing working-age population. The partnership between Bridgewater Associates, the international advocacy organisation Global Citizen, and Pan-African investor Harith General Partners brings together extensive expertise in global economic analysis and development advocacy. The report underscores the region’s emerging role in shaping the future global economy.
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According to the report, Sub-Saharan Africa is witnessing a demographic boom. While many other regions face flat or declining populations of working-age individuals, Sub-Saharan Africa is set to become home to a quarter of the world’s working-age population within a few decades. Notably, the region is expected to surpass China in terms of working-age population within approximately ten years.
The report attributes this demographic surge to several factors. High fertility rates, coupled with rising life expectancies—thanks to reductions in infant mortality rates—are driving the increase. The region’s median age is notably young at just 18, significantly below the global median age of 31.
As global population growth slows, Sub-Saharan Africa’s burgeoning workforce stands out as a critical component of future global economic dynamics. “This rapid growth reflects the combination of a fertility rate that is much higher than that in any other region and rising life expectancies,” the report states. It also highlights the critical implications of this demographic transformation for the global economy and emphasises the need for proactive engagement by policymakers, investors, and private sector leaders.
The report also notes that Bridgewater Associates, through its partnership supporting the World Bank’s International Development Association (IDA21) replenishment efforts, has deepened its understanding of the implications of Sub-Saharan Africa’s population growth. The research emphasises the necessity of strategic decisions by various stakeholders to leverage this demographic shift and navigate potential economic paths.
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In light of these findings, Bridgewater Associates, Global Citizen, and Harith General Partners are convening the Economic Development Assembly in Abidjan, Côte d’Ivoire, on October 9-10. This event, in partnership with the Government of Côte d’Ivoire, aims to rally global leaders to increase their contributions to the IDA’s replenishment efforts, starting with the IDA21 cycle.
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