Africa is rising up as it should. What amazing stats here. What this means for us: As countries get richer, in-country philanthropy rises. At the same time, we have to be aware of the challenges and corruption.
We should watch developing nations in dire straits – whose economies are burgeoning. Those who profit can give back.
Consumer Goods in Africa: A Continent Goes Shopping (The Economist, August 2012)
- Africa’s middle class, spending $2-$20 per day, has grown from 27% in 2000 to 34% in 2010 according to the African Development Bank
- South Africa offers a sound base to slowly penetrate the rest of the continent. In most of the continent besides South Africa, companies have to dig their own wells and generate their own electricity. Other countries also face greater corruption. Many bosses have to pay bribes to ship perishable goods.
- Klaus Schwab, founder of the World Economic Forum, says companies are becoming more optimistic about working in Africa. Policies are more business-friendly than they were a few decades ago.