The Japan-Africa Business Forum 2014 is in recognition of the important juncture Africa finds itself in its development and economic trajectory.
Africa’s economic growth is creating substantial new business opportunities. Growth in Africa outpaced that of the rest of the world last year. 17 of the top fastest-growing countries of the last decade are in Africa.
At least four groups of industries - consumer-facing industries, agriculture, resources and infrastructure together could generate as much as $2.6 trillion in revenue annually by 2020, or $1 trillion more than today. The rate of return on foreign investment in Africa is higher than in any other developing region. Business can build the Africa of the future. 40% of Africans live in urban areas. The number of households with discretionary income is projected to rise by 50% over the next 10 years, reaching 128 million. By 2030, the continent’s top 18 cities could have a combined spending power of $1.3 trillion.
The Japan-Africa Business Forum 2014 is in recognition of the important juncture Africa finds itself in its development and economic trajectory. The last 10 years have contributes to reversing the Afro-pessimism that dominated perceptions of Africa’s economic, social and political potential. The power of entrepreneurship and influx of capital into the African continent has led to unprecedented business activity that is changing lives and entire economies each day. African policy makers continue to increase transparency and decrease the cost of doing business. This has enhanced Africa as an investment destination and provides a catalyst for long-term sustainable development. Meanwhile, the aid sector has found new and innovative models, and the vision of anew generation of social entrepreneurs is paving the way for a thriving and independent Africa. For these reasons, the African Diplomatic Corps (ADC) wants to bring change makers to the table for a dynamic discussion on the changing African zeitgeist.