SHARM EL SHEIKH, Egypt — Though multinational companies have long included Africa in their emerging market portfolios, misperceptions continue to overshadow the opportunities that exist for expanding businesses on the continent.
Unemployment and underemployment were cited as the chief concern for 22 of 34 sub-Saharan countries surveyed in the World Economic Forum’s 2018 Regional Risks for Doing Business report. But with a working-age population that will more than double by 2050, according to United Nations estimates, Africa could see vast new economic opportunities.
And while supplying adequate work for the growing youth population will be critical to the economic growth of the continent, a new book urges businesses to acknowledge the economic transformation already taking place in Africa and the need to view the continent from a new perspective.