Asia and Africa are urbanizing rapidly (40% live in African cities), as Africa’s economic growth is 2nd only to East Asia.
Africa, home to 8 of the world’s 15 fastest-growing economies between 2000 and 2013, is transforming from a continent in need of assistance to a continent of opportunity. Africa has more middle class households (>$20K annual income) than India. However, there are infrastructure needs too, as only 75% of people have internet connectivity (Source: McKinsey).
The opportunity is in Asia too. In 1995, 7% of urban Chinese families owned a refrigerator…by 2007, that figure was 95% (Source: New York Times).
Can your company capitalize on Africa and Asia?
