FACTS ON AFRICA

Considered by scientists to be the origin of mankind, Africa is a continent of 54 independent countries and a population in excess of 1.3 billion people. The continent has a rich mix of ethnic groups and cultures which number in the thousands. Typically each ethnic group has its own language and culture. The countries of Africa also has diverse cultures, economies and history. It is said, the people of Africa have more physical variations than any other continent.

Africa’s scenic beauty and variety is quite stunning, it is home to vast deserts, tropical rain forests, rugged mountains and fertile grasslands. It is abundant in flora and fauna unsurpassed by any other continent. An ever-increasing number of tourists from around the globe are drawn to this incredible continent every year to experience its wonders.

However, despite its natural wealth and beauty, Africa is home to some of the least developed countries in the world. According to United Nations a substantial size of Africa’s population survives on less than $2 a day, while disease and famine kills millions annually (UN, 2019).

Recent economic projections show that Africa has a steadily growing population which is heading towards a population of 2 billion. Economist project that Africa’s 1.1bn workforce will grow to be the world’s largest by 2040. In the short term, economic projections shows that Africa will attain a collective GDP of $2.6 trillion by 2020 ($1720 GDP per capita) and $1.4 trillion in consumer spending (World Bank, 2019). It is also projected Africa will have 500 million new middle class consumers (ibid).

Africa as a continent has, on average, grown its economy by at 5% per annum over the last decade (AfDB, 2019). Nigeria is the biggest economy in terms of nominal GDP (expected to be $500 billion, by the end of 2019) followed by South Africa (expected to be $405 billion by the end of 2019).The economy of Africa is majorly driven by trade, industry, agriculture, and human resources.

Demographics