THE THOUGHTS OF THE PEOPLE OF SULTENG – In the midst of increasingly sharp global pessimism regarding Africa’s economic stability, followed by cuts in international aid, the decline of foreign investment, and stagnant governance indices, one indisputable structural fact remains strong: the African continent is demographically now a region that the world can no longer ignore.
An in-depth report reveals that this continent’s biggest challenge no longer lies in how to control population, but rather how quickly and productively they can organize billions of people within it to become an economic driving force.
Population surge, reaching 2.5 billion people by 2050
Empirical data shows that Africa is currently home to 1.6 billion people. Based on projections from the United Nations Department of Economic and Social Affairs (UN DESA), this fantastic figure is predicted to increase drastically to reach 2.5 billion people in 2050.
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This super-fast growth confirms Africa as the region with the fastest population growth in the world, where the total population is projected to double to 3.2 billion people by 2061.
Interestingly, modern views are starting to shift the old stigma that views population explosion as a pure burden. In the book How Africa Works Joe Studwell’s work, new arguments are emerging that Africa may have just reached the ideal level of population density to sustain broad economic growth. This density is seen as a solid foundation for the creation of deeper markets, the availability of abundant labor, and the main capital for the transformation of the agricultural sector towards massive industrialization.
Giant Market Surpasses India and China by 2040
Africa’s economic bargaining power is predicted to explode over the next decade. According to combined data from the African Development Bank (AfDB) and the United Nations Economic Commission for Africa (UNECA), in 2040the total population of productive age (labor force) in Africa is projected to exceed the total labor force of India and China combined.
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This condition automatically changes the landscape of big cities in Africa. Urban centers such as Nairobi (Kenya), Lagos (Nigeria), Accra (Ghana), and Dar-es-Salaam (Tanzania) are now being transformed from being mere government administrative centers into very dense consumer market centers and giant labor hubs.
The challenge for Africa’s leaders today is to provide sufficient regulation, infrastructure and jobs. If the momentum of this demographic bonus fails to be managed tactically, the population explosion risks becoming a social time bomb. However, if it is successfully organized productively, Africa is poised to dominate supply chains and global economic markets in the future.***
