African consumer market attracts investments, creates jobs

(Business Day Online ) Africa’s consumer-facing industries are expected to grow by more than $400 billion by 2020, which would account for more than half the total revenue increase that all businesses are expected to generate in Africa by the end of the decade.

 

It means more foreign investments and jobs in Africa. FMCG majors are trying to get a slice of the African markets, while creating opportunities for careers in Africa. Africa Recruitment Agencies will compete to find the best of the local and international talent to fill in vacancies in Africa in the consumer services.

 

One of the trends driving this consumer surge is the booming African population, of which Nigeria’s 167 million people is a major market. As Africa’s working-age population increases more jobs need to be created and if there are more vacancies in Africa for the youth, the continent is expected to experience a dramatic decline in its dependency ratio and an increase in its GDP

 

Africa also has the world’s youngest population. Better education levels and increasing brand consciousness means major change in consumption habits and demands for consumer products.

 

 

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