Newsroom > Blog
Browse more
A Few of My Favorite Things: Some Facts About Africa
By Laura Davis | Wed Dec 21 2011
As 2011 draws to a close for RENEW and the rest of the world, I wanted to take a few moments to remember some of my favorite things…about Africa:
- Thirty-six out of 46 African governments made things easier for business in in 2011.
- The International Monetary Fund expects Africa to grow by 6% this year and nearly 6% in 2012, about the same as Asia.
- Africa's combined consumer spending in 2008 was $860 billion, and it is expected to grow to $1.4 trillion by 2020.
- According to Standard Bank, around 60 million Africans have an income of $3,000 a year, and 100 million will in 2015.
- Africa’s enthusiasm for technology is boosting growth. It has more than 600 million mobile phone users—more than America or Europe.
- Ethiopia has grown by about 7.5% this year, without a drop of oil to export.
- Trade between Africa and the rest of the world has increased by 200% since 2000.
- Inflation dropped from 22% in the 1990s to 8% in the past decade.
- In 2010, private-equity firms raised $1.5 billion for projects in Africa.
- In 2010, total foreign direct investment was more than $55 billion—five times what it was a decade earlier, and much more than Africa receives in aid.
- Foreign investors are no longer just interested in oil wells and mines. They are moving on to medium-sized investments.
In the midst of all these great signs of growth in Africa, RENEW is also growing. Highlights from 2011 include:
- Implementing a project in Afghanistan, including an investor conference in Washington, D.C. and an investor trip to Afghanistan.
- Conducting surveys on the investment climate in nine countries in Africa.
- Running due diligence on opportunities in East Africa
Wonder what the future holds for the RENEW team? Stay tuned for more information about what’s ahead in 2012…
Renew Capital is an Africa-focused impact investment firm that backs innovative companies with high-growth potential. Renew Capital manages investments made on behalf of the Renew Capital Angels, a global network of angel investors, foundations and family offices who seek financial returns and sustainable social impact. For the latest on investing in Africa, subscribe and follow us at our social links below.
Related Posts
