An overview of what is happening on the African continent.
It has become a relatively well-worn fact that over the past two decades the African economy has grown faster than the world economy by some two percent per annum. This translates into impressive headlines:
Africa has 400 companies with revenues of more than $1 billion and 700 companies with revenue of more than $500 million.
The fastest growing economy in the world over this period is Ethiopia, having averaged more than nine percent per annum.
Jumia Technologies stands out as an African unicorn, with a market cap of $1 billion.
Along with fast economic growth, Africa is undergoing impressive urban growth. By 2030, it is expected that six of the world’s 41 megacities will be African, including Cairo, Lagos, Kinshasa, Johannesburg, Luanda and Dar es Salaam. This puts an imperative on policymakers to establish competitive host cities for the newly urbanised. Smart cities are arguably a key arrow in the policymaker’s quiver.