Next Generation AfricaGCC Business Ties in a Digital Economy

#2017 #Africa #AfricaGCC #BusinessEconomy #TheEconomist

Africa’s middle class numbers more than 300m by some estimates. This increasingly affluent and aspirational young cohort is driving a consumption revolution across the continent, increasing demand for consumer goods, technology and services. In parallel, young business leaders in the Gulf Cooperation Council (GCC) countries are starting to look beyond the Middle East. As GCC startups mature and Gulf investors seek more fertile opportunities abroad, entrepreneurs and investors are starting to eye the value of business links—and expansion—to sub-Saharan Africa.

This report presents the perspectives of the next generation of business leaders in Africa and the GCC, focusing on millennial entrepreneurs, against an evolving economic and technological backdrop. It explores their approach to entrepreneurship and investment, and delves deeper into sectors of interest such as retail, financial services and renewable energy. There is room for growing business ties between the two regions if key hurdles can be overcome.

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