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21 century Africa

It’s a different world now!

In recent years, Chinese, UAE and Italian firms have been the top three investors in
Africa.
 China's direct investment in Africa already exceeds $50 billion. It is estimated that there are
over 1 million Chinese citizens on the African continent. (The figure varies through different
years, but it has been estimated that at its peak there were more than 350,000 in Angola
alone)
 China overtook the USA as Africa's largest country trading partner in 2009. In 2013, USA
trade with Africa fell to 60 billion dollars, compared to China at 170 billion dollars, and the
European Union at 200 billion dollars. 87
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Africa Rising

GDP
Price Waterhouse Coopers project a pan-African 2050 GDP of c US$29 trillion dollars -

almost equal to that projected for the whole European Union's (EU28) in the same year.
This would make Africa, if it were to be viewed as a single country, the 3rd or 4th largest

economy in the world. These projections also put Nigeria (14th), Egypt (15th) and South

Africa (27th) high in the ranking of country GDP.
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Share of the World’s Workforce
The continent's population is projected to double between now and 2050. Which would

mean that almost a quarter of the world will be African.

“ ... over the next few decades, Africa will add approximately one billion new workers to
its labor force, “

“Africa 2050: Demographic Truth and Consequences” 86
Hoover Institution,
Stanford University

(One commonly used sound-bite suggests that "Soon, 1 in 5 of the world's workforce will be African".
More realistic analysis recognises that whilst great strides in education and skills training are being
made across Africa, it's more likely that Africa will find it difficult to attract much of the more
technologically advanced manufacturing industries.)
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Urbanisation 86
The global share of African urban residents is projected to grow from 11.3 per cent in 2010

to 20.2 per cent by 2050.