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Advantages of US doing Business in Africa Total Views=384
Advantages of US doing Business in Africa
There exist several advantages in favor of the US doing business in Africa as seen below; * The fast urbanization and rural population growth in Africa with its cities thus becoming powerful economics centers favors a city based approach to foreign policy, trade and investment * Africa's tremendous progress in mobilizing resources for infrastructure development , working hard to bridge the gaps in ICT (INFORMATION COMMUNICATION & TECHNOLOGY) , energy , sanitation and transportation . Thus the US has chances of making monumental differences in investing in infrastructural development in Africa since it is the fastest growing and second largest mobile phone market in the world. * The US with fast digitalization which boosts technology, Innovation and accelerates the fourth industrial revolution is well placed to play a leading role in the African digital space and contribute to Africa's pursuit of now- vital technologies. *Another benefit is Africa's fast regional integration and her existing African continental free trade areas. An instance of such accords is the Africans continental free trade area in 2018, it’s ratification in 2019 and it's official launch in January 2021. Such growth prospects and business opportunities have been magnified and can be evaluated as an opportunity for investment. *Africa's sustained demands for accountability, democracy and stability of African citizens as a policy priorities aligned with the US core values. *Africa's fast population growth on the continent could be turned into demographic dividends else act as a threat to global prosperity and stability since Africa was once a home to over 17% of the world's population in 2020 and is expected to have over 26% of global population in 2025. This increases it's labour force making it favorable place for investment but if it is not intergraded in the global economy it could be a major threat to global prosperity and stability as citizens will be faced with poverty , fragility , extreme violence illégal immigration ,health challenges and many other challenges which some countries are already facing . * The growth of household consumption and business spending that is Africa is expected to be a in 2025 the home of an estimate of 16,12billion of both consumers and business spending and it's prosperity can be good for the Us investment as it will offer tremendous opportunities . *Africans transformation and business potential are more sustainable that is considered in the past as a hopeless continent in 2000 by economists Africa gas been the two best cumulative successive decades in it's existence in the 21st century as it's trade has grown up to 300% in the last decades outperforming global average of 196% ,this has made it a home for most fastest growing economies in the world offering unique opportunities for us trade and investment . More to this it's tremendous economics m potential offers rewarding opportunities for local and global partners looking for new markets and sustainable or long term investment with some of the highest returns .this potentials equally fosters economic growth , diversification, job creation for both women and youths and improving general welfare.
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