Kaiser Kuo
2025年7月27日
For African economies to succeed, their diversity must be emphasized
Africa is the planet’s second-largest continent by both number of countries and number of people. By 2050, 1 in 4 people on the planet will be African. Its potential for development is growing rapidly. Here's how.
Africa, the second-largest continent with a rapidly growing population and rich cultural tapestry, holds immense development potential. From exceeding New York City's mobile phone subscriptions to boasting its own free-trade zone (AfCFTA), the continent is making strides.
However, the journey is not uniform. While some economies like South Africa exhibit sustained strength, others like Nigeria and Angola grapple with fluctuating performance tied to natural resources and political instability. "New growers" show promise but require long-term success to truly combat poverty.
AfCFTA: A catalyst for change
Trade, particularly within the AfCFTA, is key to unlocking Africa's potential. Intra-African trade focuses on manufactured goods, fostering local job creation and economic dynamism. Producing locally will be crucial for Africa's economic transformation.
The AfCFTA, with its projected market of 1.7 billion people and $6.7 trillion in consumer spending by 2030, offers a powerful platform for accelerated growth and prosperity. Collaborative efforts like the Forum Friends of AfCFTA are crucial in driving its successful implementation.
