Africa

[vc_row][vc_column][vc_column_text]

Africa

Africa (excluding Egypt) is the second most populous region after Asia-Pacific. It comprises 50 countries and 1.15bn people. Total GDP was 2.04 trillion USD in 2018. Average GDP per capita was 2,698 USD, which was the lowest among the regions. Total exports were 513m USD. Africa was the birthplace of homo-sapiens over 315,000 years ago. Around 4,000 BC, the Bantu developed farming. They began to spread east from modern day Nigeria and Cameroon and then down into Sub-Saharan Africa. Around 3,000 BC, Ancient Egypt began to develop and were lords of the Nile for over 2000 years. They were overtaken by the Kushite Kingdom who in turn were overtaken by the Aksum Kingdom from Ethiopia in around 300 AD. North Africa became the theatre of empires including the Phoenicians (Carthaginians), Persians, Macedonians, Romans, Byzantines, Arabs, and Ottomans. In Sub-Saharan Africa, several key empires developed from the middle ages including the Mali empire, the Benin empire, the Mutapa, the Ethiopian empire, and the Kingdom of Kongo. The Arabs began to conquer North Africa in 7th century and eventually extended their influence into Western and Eastern Africa through trade. The Portuguese were the first modern Europeans to explore the Atlantic and Indian Ocean coasts of Africa. They developed trading ports, colonies, and the slave trade. The French, Dutch and English also began to colonise Africa and were joined in the 19th century by the Germans, Belgians, and Italians. The Berlin conference in 1884, formally defined European colonial interests in Africa. WW1 saw Germany’s territory ceded to the other European powers. After WW2, independence swept across Africa helped by the Organisation of African Unity (OAU) formed in 1963. The OAU became the African Union in 2002. Strong economic growth in the 1960s and the beginnings of industrialisation (mostly through import substitution) gave way to economic mismanagement, civil war, and drought in the 1970s and 1980s. As a result, international economic assistance became increasingly important. Assistance from the IMF and World Bank evolved over time moving from the early Structural Adjustment Programs in the 1980s to the Millennium Development Goals in the 1990s, the assistance for Heavily Indebted Poor Countries (including debt forgiveness) in the 2000s, to the Sustainable Development Goals in the 2000s and beyond. Regional economic cooperation has also played an important role in development. Currently there are eight main regional economic communities. A regional electricity market in Southern Africa and a pan-African banking market are also spurring economic integration and development. The 2000s saw many Sub-Saharan Africa countries benefit from the resource boom and increased investment from China. The Arab Spring brought change to many North African countries. All across Africa the rise of ICT is inspiring hope in the younger generation.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]

Sango Capital: Reframing Africa’s Investment Landscape for a New Global Cycle

As global capital seeks diversified growth and risk-adjusted returns, Sango Capital reaffirms Africa’s position as a compelling frontier. From shifting macro fundamentals to digital transformation, the continent is emerging as

Project Spark: Powering Southern Africa’s Future Through a Balanced Energy Mix

Namibia’s first gas-to-power plant aims to address the region’s chronic energy shortages through a pragmatic, balanced approach that blends innovation, natural gas, and regional cooperation. Access to reliable electricity is

ATIDI: De-Risking Africa’s Growth Trajectory Through Innovation, Impact and Integration

As Africa’s leading provider of credit and investment insurance, the African Trade & Investment Development Insurance (ATIDI) continues to shape the continent’s economic trajectory. Under the stewardship of CEO Manuel

BIAT: Strengthening Market Leadership Through Innovation, Digitalisation, and Responsible Governance

BIAT continues to assert its dominance in the Tunisian financial market, reinforcing its resilience with positive results. These achievements reflect a strong risk management framework, forward-thinking governance, and the collective
Read more

Powering Africa’s Future: An Interview with the Founder & CEO of Ariya Capital Group

As Africa’s energy sector undergoes rapid transformation, Ariya Capital Group stands at the forefront, driving investment and innovation in clean and renewable energy. In this exclusive interview, the Founder &

C&R Group: Leading the Future of Share Registry Services in East Africa

C&R Group has established itself as the leading share registrar in Kenya, with a growing presence in Uganda. Since its inception in 1986 as the in-house share registry department of

NJMPF: Empowering Financial Literacy & Exemplary Leadership

The KwaZulu-Natal Joint Municipal Pension / Provident Fund (NJMPF) has solidified its status as a leader in the retirement fund industry, earning recognition as Financial Literacy Champion and Best Fund

A Rare Bird Flutters into SME World Flourishing in Nigeria: ‘Win-Win’ Financing Options

Jaiz Bank Ltd has taken tiny operations to thriving businesses with its innovative Shariah banking model. The Nigerian financial sector’s long-standing need for an alternative banking model has finally been
Read more

Ploughing a Determined Path to Lead the Field in Financial Sector

MD and CEO of Nigeria’s Jaiz Bank Haruna Musa has many strings to his bow — and many accolades for his prowess. Nigerian pioneer non-interest financial institution Jaiz Bank Plc

Africa Leapfrogging Challenges with its Mobile Solutions Boom

From fintech payment systems to drone-delivery of medical services, the continent is on a roll. Africa is embracing innovation continent-wide to address its particular set of issues and challenges. From

Impact Investing in Africa: The Vital Catalyst for Sustainable Development

In a world beset by social and environmental challenges, one area is emerging as a vehicle to bring positive change — and financial gains…  While impact investing is acquiring global

Investing in Africa: What to Know About Impact Funding… and More

Thavin Audit, deputy head of corporate and investment banking at Bank One, explores how Mauritius and the Middle East could partner for deeper impact financing. Bank One has gleaned —
Read more
[/vc_column_text][/vc_column][/vc_row]
CFI

Published by
CFI

Recent Posts

Middle East

[vc_row][vc_column][vc_column_text] Middle East The Middle East (including Egypt but excluding North Africa) had over 684m…

5 years ago

North America

[vc_row][vc_column][vc_column_text] North America   North America (including Mexico and the Caribbean) had over 498m people…

5 years ago

Latin America

[vc_row][vc_column][vc_column_text] Latin America Latin America (excluding Mexico and the Caribbean but including Brazil) had over…

5 years ago

Europe

[vc_row][vc_column][vc_column_text] Europe The geographical region of Europe includes over 44 countries and 752m people. It…

5 years ago

Asia Pacific

[vc_row][vc_column][vc_column_text] Asia Pacific Asia-Pacific (excluding the Middle East) is the most populous region. In 2018,…

5 years ago