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Africa: A bright future
By: Hugo Lambrecht - Managing Director of Emerging Partners
(Emerging Partners is an IESF Group partner firm)
 
18 February 2015 – It is always exciting to see how many developmental projects are world taking effect across the world and how development is bettering the world around us.  Across Africa, we are hopeful – our world is changing; progress is slow and challenges are expected around every corner.  But it is the hope of each African, it’s the support of each organisation and citizen that will shape Africa into a better world for everyone. 
We continue to study the markets in Africa, keeping our finger on the pulse – “What will happen next?”
In 2015 – this will happen:
• By the end of 2015, Africa will have 600 million mobile subscribers. 
• Africa’s newest metro system: Addis Ababa, Ethiopia, is expected to be running by May 2015. Testing has started on the $475 million USD light rail project stretching for a combined 32 km, two lines dividing Addis Ababa north-south and east-west will serve 39 stations, in underground and over ground sections.  The system is however being built by China Railway Engineering Corporation (CREC) and mostly financed through a loan from China’s Exim Bank.
• Africa's tallest building under construction: Al Noor Tower being developed by Middle East Development is a 114-floor skyscraper and will reach 540 metres into the sky in the Moroccan city of Casablanca.  It is set to be the tallest in Africa and will cost over $ 1 billion USD.  The final height is meant to act as a tribute to the 54 countries that make up the African continent – and the mixed-use building would house a seven-star luxury hotel, art gallery, spa, fine-dining restaurants and luxury boutiques, alongside an exhibition centre and offices.
• Africa's "newest" city under construction: The R84 billion (USD756 billion) “new city” in Modderfontein, Johannesburg has started construction despite widespread scepticism and criticism.  According to The Business Report work has started on a small scale in the new “city” of Zendai being developed in the area with the first set of 300 residential units and some of the roads are under construction.  Zendai South Africa chief operating officer Du Wenhui said it was a 15- to 20-year project that would see between 30 000 and 50 000 housing units of different types and sizes, ultimately housing about 100 000 residents.
• Africa's fastest growing city - Dar es Salaam: The African Development Bank (AfDB) report, titled Tracking Africa’s Progress in Figures predicts that Dar es Salaam in Tanzania will be Africa’s fastest growing city between 2010 and 2025, growing from 3.3 million to 6.2 million people – an 85% increase. Nairobi and Kinshasa are expected to be the second and third fastest growing cities by 2025 at 77.3% and 71.8% respectively.  The shift toward cities has been a pan-African phenomenon. From 1960 to 2011, the urban share of Africa’s population rose from 19 percent to 39 percent— equivalent to just above 416 million people in 2011. By 2040 half of Africa’s population will live in a city.  Several African cities, such as Dar es Salaam and Kinshasa, are now and will continue to be among the fastest-growing in the world.
• The top 3 sectors predicted for growth in 2015 is the retail sector, financial services industry and the energy sector. 
By 2017 Africa is going to the 2nd largest market for investment in the world – and by looking at these huge investments currently taking effect on the continent, Africa is bursting with real investment potential.  We look forward to report back every month to provide expert insight on developments, business news, and real Africa statistics across the continent.