Top five growth trends for Africa to pay attention to.

In the wake of the recent US-Africa summit, in which many pundits now agree that the continent is on a positive growth trajectory, here are the top five growth trends for Africa currently.

1. The number of middle class Africans is increasing.

Regardless of what this definition means, the fact is that more and more Africans are joining the middle class ranks, thanks to economic growth that has been brought about by increased direct foreign investment mainly in the commodities, the telecommunications industry, and the service sector. This middle class is likely to drive the GDP of many African countries upwards.

2. The Fashion and Arts Scene is expanding.

The Oscar academy win by Lupita Nyong’o for the best supporting actress in the drama ‘12 Years a Slave’ is likely to inspire more Africans to move into the arts scene, which traditionally has been

viewed in many African countries as a ‘side hustle’. What’s more, Nigeria’s Nollywood is growing bigger and better, and it now churns out more movies in a year than any other place in the world. More ‘woods’ will be created in Nairobi, Dar es Salaam, Accra, and Cape Town to give content that is relevant to the everyday African experiences. Hopefully, even as these woods grow, they will find a market not just in Africa, but globally.

3. More Stability in the Continent.

We are also likely to witness more stability in the continent. In the last year or two, there have been coups or near coups in South Sudan, Mali, Central African Republic, and Niger. Let’s not forget the fragile situation in Somalia, as well as the increasing hostilities in Northern Nigeria. However, the African Union is beginning to exert authority, and many African countries are beginning to realize that the conflicts in neighboring countries could easily escalate right into their own doorsteps. More stability will mean a more stable Africa, and a higher economic growth which will lift millions of Africans out of poverty.

4. Explosion of the real estate sector.

If you are a real estate developer, then you could begin to salivate. Real estate is one of the sectors that will continue to experience a boom. Major Africa cities as Lagos, Accra, Johannesburg, Nairobi, and Luanda are accommodating more and more people who have migrated from rural areas, and increasingly, expatriates who are looking for opportunities in the continent. Luanda, Angola’s capital, was recently named the most expensive city in the world, and Knight Frank, a property consult company, advises that one would reap more returns by investing in Nairobi than in London.

5. More women in politics and Business.

More women are joining politics, and getting the best jobs in the corporate world. There are now three women Presidents in the continent, and more and more women CEOs of leading multinational companies. However, according to the world economic forum report on gender economic parity released late last year, most African countries are still fairing worse off as compared to other places in the world.