As a young South African looking to advance your career, or maybe start your own business in your birth country some day, do you ever wonder whether Africa is really where your future lies? Do you view the African continent as a place where you would one day want to leave a legacy for your children? Or do you perhaps hold negative feelings towards the economic growth of this continent?
One of the key ways for Africa to prosper is by investing in its most valuable resource, which is it’s people! This all starts with the youth remaining positive and confident about the future of our continent.
It is crucial for the youth to have a positive outlook about their future in Africa, and through them, the legacy should continue to live on for generations to come. By starting their own companies, creating employment opportunities, skills development and educating fellow Africans, we are one step closer to building a better Africa for all.
Let us now explore some of the reasons why you should have a more positive outlook of the continent. According to The African Economic Outlook (AEO) 2015 report, Africa’s gross domestic product (GDP) growth is expected to strengthen to 4.5% in 2015 and 5% in 2016 after subdued expansion in 2013 (3.5%) and 2014 (3.9%). Excluding South Africa, sub-Saharan Africa’s economy will grow by 5.2% in 2015 and 6.2% in 2016.
Of course, the above AEO 2015 predictions depend on certain factors such as the world economy improving, oil prices gradually recovering and the eradication or containment of the Ebola epidemic in West Africa. These predictions give a positive forecast into Africa’s growth in the near future but in order to do so. Africa needs its human capital. The continent cannot afford to lose its youth to foreign nations and the continent’s skills need to be kept within the continent’s borders for the nation’s development.
A clear indication of the impact of Africa investing in Africa is highlighted by AEO 2015 where it states: In 2014, domestic demand was in most African countries boosted by private consumption and public infrastructure investment. Furthermore, domestic demand continued to boost growth in many African countries while external demand remained mostly subdued because of flagging export markets, notably in advanced countries and to a lesser extent in emerging countries.
From the above it is evident that Africa’s growth is based on its greatest natural resource, its people. According to an article on bdlive.co.za by Elsie Kanza, Head of Africa at the World Economic Forum, Africa’s population is already larger than 1-billion and growing strongly. By 2040 it will have a workforce larger than China’s. Based on this, it is clear that unemployment and social stability will increasingly become a growing concern for Africa. According to the International Labour Organisation, 60% of Africa’s youth are unemployed.
But, how can Africans aid their governments to alleviate this enormous challenge? Africans can make a difference through entrepreneurialism, business startups, Small and Medium Enterprise (SMEs) investment etc. As a nation Africans can invest in each other and transform every African into an asset. Assets that will invest in the future of the continent.
Africa has come a long way and all Africans need to be optimistic about the role they can play towards the continent’s success. The power is in the youth. Africa’s treasure lies in those that can create a better tomorrow for other fellow Africans. Through patriotism and the ever-growing spirit of “ubuntu” – human kindness – Africans can create a continent that they can be proud of. All this can be achieved in investing in each other on an individual level.
If you are blessed enough to “pay it forward” and have the opportunity to make a difference, it is time you spoke to people who are the driving force when it comes to turning emerging market’s unpredictability into wealth for all stakeholders – Musa Capital. Musa Capital inspires passion for African markets by facilitating transactions in Africa, by Africans, for African entrepreneurs and institutions via innovative solutions and products to positively impact lives.