Rethinking the African business opportunity
By Mutsa Chironga, Georges Desvaux, and Acha Leke
With expectations of technological growth, high demand for infrastructure, and rapid urbanization, respondents to a McKinsey Global Survey on business opportunities in Africa are confident about the continent’s long-term economic prospects. 1 In fact, respondents in Africa and in other regions believe that 20 years from now, its combined GDP will be among the fastest growing in the world. But the results also suggest that on-the-ground knowledge is key to capturing this business potential. Respondents in Africa report higher revenue and profits there, as well as higher expectations for future growth and a more nuanced outlook on the specific countries where the best opportunities lie.
