According to McKinsey Global Institute 2016 report despite the various challenges, Africa’s domestic consumption and corporate spending are both growing strongly, offering companies a $5,6 trillion opportunity by 2025.
Africa’s manufacturing sector today underperforms those of other emerging economies. However, output could expand to nearly $1 trillion in 2025 if Africa’s manufacturers were to produce more to meet domestic demand from consumers and businesses, and work with governments to address factors hindering their ability to produce and export goods.
To realise this potential will require Africa’s companies to step up their performance. Africa is home to 700 companies with revenue of more than $500 million per year, including 400 with revenue above $1 billion. However, the region has a relatively small number of large companies. It needs more. Read more. Source | News Day