Global investors are increasingly taking note of
the untapped potential of sub-Saharan Africa,
particularly its unparalleled demographic edge.
According to a new report by
PricewaterhouseCoopers, Africa will be enjoying
faster economic growth than any other region -
and will have the world's biggest labour force.
Most major international corporations are already
active in at least one of the three largest cities in
sub-Saharan Africa - Lagos in Nigeria, Kinshasa
in the Democratic Republic of Congo (DRC), and
Johannesburg in South Africa.
However, PricewaterhouseCoopers (PwC)
economists believe investors should also be
getting excited about the "Next 10" biggest cities
in sub-Saharan Africa, namely Dar es Salaam
(Tanzania), Luanda (Angola), Khartoum (Sudan),
Abidjan (Côte d'Ivoire), Nairobi (Kenya), Kano
and Ibadan (Nigeria), Dakar (Senegal),
Ougadougou (Burkina Faso), and Addis Ababa
(Ethiopia).
According to PwC's latest Global Economy Watch
report, released on Thursday, the population of
these cities is projected to almost double by
2030, growing by around 32-million people. In
fact, the latest UN projections indicate that, by
2030, two of the "Next 10" - Dar es Salaam and
Luanda - could have bigger populations than
London has now.
Cities are the typical entry points for businesses
looking to expand into new markets, because
they enable closer interaction with customers in
a relatively small geographical area.
"The report projects that economic activity in the
'Next 10' cities could grow by around US$140-
billion by 2030," Stanley Subramoney, strategy
leader for PwC's south market region, said in a
statement.
This is roughly equivalent to the current annual
output of Hungary, Subramoney said, adding that
this was a conservative estimate that did not
take into account real exchange rate
appreciation, despite relatively strong projected
growth in these economies.
Roelof Botha, economic adviser to PwC, said
that, in addition to high rates of GDP growth,
rapid urbanisation and the so-called
demographic edge, "a number of other economic
phenomena in the region are starting to appeal
to the global investment community". These
include:
Significant new discoveries of mining and energy
resources, in particular gold and gas;
Substantial investment in infrastructure and
capital formation by the private sector, which
has witnessed an increase in the ratio of total
fixed investment to GDP from 17.7% in 2000 to
an estimated 23% in 2013;
Sustained growth in per capital incomes, which
has led to demand shifts that are benefiting
household consumption expenditure on durables,
semi-durables and services; and
The ability of a growing number of countries to
raise financing for infrastructure projects on the
international capital market, in particular Kenya
and Rwanda. Both of these countries have
recently managed to sell government bonds
globally at single-digit yields, which obviate the
need for excessive debt servicing costs.
It was factors such as these which had seen a
return to sound growth in foreign direct
investment (FDI) inflows into a number of key
African economies last year, Botha said.
However, according to PwC, there are three
issues that sub-Saharan Africa has been
struggling to resolve for a number of decades,
and which could slow the pace at which the
"Next 10" cities grow.
These are: the low quality of "hard"
infrastructure like roads and railways; inadequate
"soft" infrastructure like schools and universities:
and "growing pains" arising from political, legal
and regulatory institutions struggling to deal
with bigger, more complicated economies.
"The challenges that policy makers face is to
convert Africa's demographic dividend into
economic reality by overcoming these hurdles,"
Subramoney said, adding: "History suggests this
will not be a quick or easy process.
Infrastructure development is a key driver for
progress across Africa and a critical enabler for
sustainable and socially inclusive growth.
"However, investors should form their own plans
to mitigate these problems by supporting
infrastructure skills and development
programmes."

source: m.allafrica.com/stories/201408182135.html/

kano

so this is the OVERHYPE KANO WITH ONE HIGH RISE BUILDING. NIGERIANS CALLING TOWNS CITIES SINCE 1960s

After Kano, Kaduna is next!!
www.nairaland.com/attachments/1247821_Kaduna_jpgeea516cbd8d641abf19557b632881e3b

dar es salaam

ibadan

I REP IB CITY
DESPITE THE WORK OF HATERS TO TARNISH IB.THE CITY CONTINUES TO RISE

this is the time for Africa

^^^ "Africa rising" is true story. The continent just needs to be "powered"
Ibadan

Boyedex: ^^^ "Africa rising" is true story. The continent just needs to be "powered"

.....And educated.

ivory coast

Idrismusty97: .....And educated.

why did you pull the first picture of kano. its cool

Rikidony: so this is the OVERHYPE KANO WITH ONE HIGH RISE BUILDING . NIGERIANS CALLING TOWNS CITIES SINCE 1960s

falls off cliff

I saw something similar on independent online.
Next 10’ biggest cities in
Africa exciting to investors
August 15 2014 at 08:00am
BY 2040, Africa is expected to have the biggest
labour force in the world and is experiencing
faster economic growth than any other region.
This was according to projections contained in
the latest PwC’s Global Economy Watch report
released yesterday.
With its focus on African cities, the report says
global chief executives were increasingly
recognising the untapped potential of sub-
Saharan Africa with major corporations already
active in at least one of the four largest cities,
including Lagos, Kinshasa, Nairobi and
Johannesburg.
However, PwC economists believe it is the “Next
10” biggest cities in sub-Saharan African that
should also be exciting foreign investors. These
include Ibadan in Nigeria, Khartoum in Sudan and
Dar es Salaam in Tanzania. It is also projected
that the population in some of these cities would
double by 2030, growing by around 32 million
people.
PwC’s south market region strategy leader
Stanley Subramoney says the report predicts that
these cities could grow around $140 billion (R1.5
trillion) by 2030, a figure roughly equivalent to the
current annual output of Hungary.
Economic advisor to PwC Roelof Botha said in
addition to the trends regarding high rates of
gross domestic product, a number of other
economic phenomena in the region were starting
to appeal to the global investment community.
These included significant new discoveries of
mining and energy resources, in particular gold
and gas, sustained growth in per capita incomes,
and the ability of countries to raise financing for
infrastructure projects on the international capital
market.
However, something might put brakes on this –
the low quality of infrastructure such as roads,
rail, schools and universities. Other obstacles
include growing pains arising from political, legal
and regulatory institutions struggling to deal with
a bigger and more complicated economy.

careytommy:
falls off cliff

That same dirty, rusty roof filled Ibadam?

Aba and Onitsha should be the ones on that list!!!!!

ba7man: That same dirty, rusty roof filled Ibadam?

Aba and Onitsha should be the ones on that list!!!!!

Those are important cities economically too but will still come after the likes of Kano and Ibadan especially with regard to demographics and development. Why do you guys like abusing Ibadan tho. Nawa o.

destante: Those are important cities economically too but will still come after the likes of Kano and Ibadan especially with regard to demographics and development. Why do you guys like abusing Ibadan tho. Nawa o.

I'm actually mocking those that like to insult everything Ibadan.

I'm mimicking them.

If you've seen my posts concerning Ibadan, you'll know I truly love the place.

ba7man: I'm actually mocking those that like to insult everything Ibadan.

I'm mimicking them.

If you've seen my posts concerning Ibadan, you'll know I truly love the place.

hmmmn

dhammyg:
hmmmn

hmmmmmmmmmmmmmmmmmmmmnnnnnn..........(To be continued)

ba7man: hmmmmmmmmmmmmmmmmmmmmnnnnnn..........(To be continued)

WHEN I FIRST SAW UR POST I THOUGH U WHERE ONE OF THOSE SILLY IBADAN HATERZ.BUT NOW I UNDERSTAND

Crap

ba7man: I'm actually mocking those that like to insult everything Ibadan.

I'm mimicking them.

If you've seen my posts concerning Ibadan, you'll know I truly love the place.

lmao. I see

Op and the author are definitely tribalists...not one city from the south east

This is no news, its just investor and multinational companies expanding there business.

Boyedex: why did you pull the first picture of kano. its cool

That is of Kaduna. I just want to leave only one pic. Anyway here it is and more;


[img]http://3.bp..com/_xSpor6Qzxro/Sn5RtfTxRQI/AAAAAAAAAIc/_97LgTYimUk/s280/roads5.jpg[/img]
[img]http://4.bp..com/_xSpor6Qzxro/Sn5TIMvTVhI/AAAAAAAAAJM/nMySuylyqyM/s280/gov_house1.jpg[/img]
[img]http://2.bp..com/_xSpor6Qzxro/Sn5SXkgD6xI/AAAAAAAAAI0/oDzZP4ZrPiA/s280/train5.jpg[/img]

Brimmie: Crap

Eyah pele ti è, just bcus no SE city is mentioned. smh

Isn't this article old?

Nice...

Ok