UNLOCKING AFRICA’S BUSINESS POTENTIAL
Book Review: LANDRY SIGNé’, UNLOCKING AFRICA’S BUSINESS’S POTENTIAL: Trends, Opportunities, Risks, and Strategies, 2020, Brookings Institution Press, pages 333.
Africa has tremendous economic potential and offers rewarding opportunities for global businesses looking for new markets and long-term investments with favorable returns. Africa has been one of the world’s fastest-growing regions over the past decade, and by 2030 will be home to nearly 1.7 billion people and an estimated $6.7 trillion worth of consumer and business spending. Increased political stability in recent years and improving regional integration are making market access easier, and business expansion will generate jobs for women and youth, who represent the vast majority of the population. Current economic growth and poverty-alleviation efforts mean that more than 43 percent of the continent’s people will reach middle or upper-class status by 2030.
Unlocking Africa’s Busi-ness Potential examines business opportunities in the eight sectors with the highest potential returns on private investment—the same sectors that will foster economic growth and diversification, job creation, and improved general welfare. These opportunities include:
ONE—The Evolution of African Economies and Their Tremendous Business Poten-tial.
TWO Africa’s Consumer Markets and Distribution Trans-formation and Potential. Africa is one of the fastest-growing consumer markets in the world.
THREE—Africa’s Agricul-ture and Food Industry Trans-formation and Potential. Sixty percent of the world’s unused arable land is located in Africa.
FOUR—Africa’s Information and Commu-nications Technology Trans-formation and Potential.
FIVE – Africa’s Manufac-turing and Industrialization Transformation and Potential
SIX – Africa’s Oil and Gas Transformation and Potential – More recently, enormous reserves of natural gas have been discovered in the waters…
SEVEN – The tourism industry is playing an increasingly important role in the global economy, contributing 5 percent of GDP, 30 percent of service exports, and 235 million jobs. Indeed, each year, approximately one billion people travel internationally.
EIGHT – The banking sector plays a crucial role in the rise and viability of Africa’s emerging markets. Well-functioning financial systems are vital contributors to economic growth and development, offering savings, credit, payment, and risk management products to a diverse range of people.
The book’s analysis of these sectors is based on case studies that identify specific opportunities for investment and growth, along with long-term market projections to inform decision-making. The book identifies potential risks to business and offers mitigation strategies. It also provides policymakers with solutions to attract new business investments, including how to remove barriers to business and accelerate development of the private sector. Landry Signé’s evidence-based and powerful insights showcase and confirm that he is simply the best, brightest, and most passionate of his generation when it comes to enlightening the world with the fascinating transformation and potential of African economies.