1.1 billion people across 54 countries
450 million people are projected to join the workforce between 2010 and 2035
Six of the ten fastest growing economies in the last decade
Growth rates of 5% on average for last 15 years
27 countries with GDP per capita above $2000
Mobile penetration rates of 90%
Africa as a major consumer market and an
Growing consumer base
For many, Africa represents the only continent that
is offering growth prospects in today’s economy.
So how can brands capitalise on the opportunity?
Six key trends:
1. Consumer Power Moving Younger
2. Moving up in the World
3. Moving to the City
4. Moving to Mobile
5. Moving in to the Future
6. Moving the Gender Bias
TRENDS TO WATCH
Population of 1.1 billion, set to grow to 2.3 billion
And they are getting younger. Currently around
43% of Africa’s population is under the age of 15.
Optimistic, independent, outward-looking, proud
African music, fashion, art and literature, in
particular, are finding new audiences worldwide,
through the efforts and entrepreneurial ventures of
1. MOVING MILLENIALS
160,000 millionaires living across Africa, growing
at double the rate of elsewhere in the world.
More than twice as many people considered
middle class today as they were 30 years ago
But consumers are spending between 10% and
20% of their monthly salary on pre-paid air time.
179 new malls anticipated in the next two years.
2. MOVING UP IN THE WORLD
More than 50 African cities with populations over
By 2050 60% of Africans will be living in cities or
Life in a thriving African city isn’t always neat and
tidy, nor easy. Challenges from transport systems
to energy supply are ongoing hurdles.
3. MOVING TO THE CITY
4. MOVING TO MOBILE
Most Africans will have their first experience of the Internet on a mobile device.
Smartphones and tablets will account for four out of five broadband connections
in Africa in 2016.
Unique mobile subscribers set to reach 504 million unique mobile subscribers
by 2020 (49% mobile penetration).
Mobile penetration will swell to almost a billion connections by 2020 (91%
Ownership of multiple phones is a
commercial practicality, as well as a
statement of consumer power and choice.
120 million Facebook users in Africa
“One of the key features of the African digital
renaissance is that it is increasingly homegrown.”
Tim Kelly, policy specialist, World Bank
Upwards of 170 technology hubs across SSA.
M-Pesa has become the most successful mobile
financial service (MFS) in the world with more
than 17 million users in Kenya.
The power is in the ability to transact – M-Kopa
has powered more than a quarter of a million
homes in East Africa.
Rwanda will have three drone ports by 2020
delivering emergency medicine to almost half the
5. MOVING INTO THE FUTURE
A woman is 14% less likely to own a phone than a
man in low / middle income countries.
Benefits of connectivity are huge, including, but
not limited to access to education, employment,
security, efficiency and more.
There are approximately 250 mobile health
(mHealth) services in Africa - more than the USA,
Europe, Middle East and Asia.
6. MOVING THE
• Localisation and language use is essential
• Develop for the market, don’t just adapt or
‘dump’ international products
• Loyalty and aspirations drive brand adoption –
don’t sell ‘cheap’, but make things affordable
• Social media is hard to do from a distance,
particularly in the vernacular!
• Look at untapped markets, such as women and
• Early adopters may need to build out supporting
infrastructure to be successful
• Travelling in Africa can be slow and
administratively painful, but business is based
on relationships, deals are done in person
African Business News, country supplements, industry reports and market intelligence onAfrica
AllAfrica African news and information for a global audience
BizCommunity Marketing and media news for Africa
GSMAIntelligence Mobile operator data, analysis and forecasts,
How we Made it in Africa Aimed at business and investors in and interested inAfrica
McKinsey & Co Winning inAfrica’s consumer market
oAfrica Information on how people in eachAfrican country are using the Internet
Quartz Africa Global andAfrica-specific business news coverage from Quartz, a digital and mobile-first publication
This isAfrica ExaminesAfrican business and politics in a global context (from the Financial Times Ltd.)