Africa is the world's second fastest-growing region. Between the years 2000 and 2016, the continent experienced an average annual GDP growth of 4.6%, and its real GDP is projected to grow at 3.9% annually between 2017 and 2022. Sub-Saharan Africa specifically is home to several of the world’s fastest-growing economies. Despite the relatively small size of the individual businesses, collectively the MSME sector in sub-Saharan Africa is the most valuable driver of the region’s economy. Through significant contributions to national income, the MSME machine has positioned itself as an integral engine for economic growth and development. In this issue, we do a deep dive into the MSME sector in Africa and Asia.

If the Isthmus of Suez had not been the geographical landmark to separate the boundaries of Africa from Asia, then these two continents could have as well been counted as one. This close geographical proximity and relationship can be translated into more symbiotic alliances being created between the two to enable prosperity in the Asian and African continents. 

United Nations Sustainable Development Goal SDG 17 calls for revitalizing global partnerships to achieve sustainable development. With this said Africa and Asia could direct their economic energies on their large and growing populations. Asia is the largest and most populous region being home to over 4 billion, almost 60% of the world’s population.  Meanwhile, Africa’s 54 countries have a combined and growing population of over 1 billion people. Hence the need for both continents to form formidable economic mergers and boost South-South intercontinental trade.

Value Chain Industrialisation across the continent is the next frontier for growth and development across the continent. More and more, various industries and markets are realising the value of exporting value-added products vis-à-vis raw materials to maximise revenues. Investments in these processes are on the rise and this month we focus on the value chain across various industries, economies and regions. .

The World Bank projects that the economic growth of Sub-Saharan Africa will to pick up to average 3.6 percent in 2019–20. Growth is forecasted to be robust for non-resource intensive countries on the continent. This slow but steady growth has seen global businesses clamouring to do business with Africa. 

“Part of the appeal of Africa post-2008 was the relative unattractiveness of Europe, North America and other First World economies. While they were reeling under the woes of negative growth, Africa’s worst economic day was slower growth, never recession; except for the likes of South Africa,” says Victor Kgomoeswana in his book Africa is Open for Business: Ten Years of Game-changing Headlines. African countries also introduced business regulatory reforms that have improved their business environments. 

Read about this and more in our first edition of Economic Grid, Afrasia Edition

November 2019

October 2019

September 2019

August 2019

Economic Grid is an in-depth, factual and eye opening business read for today’s corporate and business leader from across the globe. If you want to know what is happening that is/can accelerate economic growth in and around Africa, and Africa to Asia, Economic Grid; Afrasia Edition shall be your most informative guide.

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Economic Grid Magazine - October 2019

Economic Grid Magazine - October 2019

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