{"id":595382,"date":"2023-06-06T05:39:43","date_gmt":"2023-06-06T12:39:43","guid":{"rendered":"https:\/\/www.esri.com\/about\/newsroom\/?post_type=wherenext&p=595382"},"modified":"2023-06-06T05:39:43","modified_gmt":"2023-06-06T12:39:43","slug":"companies-eye-expansion-opportunities-in-africa","status":"publish","type":"wherenext","link":"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/companies-eye-expansion-opportunities-in-africa","title":{"rendered":"Companies Eye Expansion Opportunities in Africa"},"author":501,"featured_media":0,"parent":0,"menu_order":0,"template":"","format":"standard","meta":{"_acf_changed":false,"sync_status":"","episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","castos_file_data":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","_links_to":"","_links_to_target":""},"categories":[],"tags":[287702,428061,11272,471991],"department":[476812],"wherenext-category":[],"industry":[],"class_list":["post-595382","wherenext","type-wherenext","status-publish","format-standard","hentry","tag-africa","tag-business-expansion","tag-demographics","tag-market-analysis","department-business-growth"],"acf":{"short_description":"US companies are increasingly considering business opportunities in Africa. They'll need a good grasp of markets and demographics to succeed.","pdf":{"host_remotely":false,"file":"","file_url":""},"flexible_content":[{"acf_fc_layout":"content","content":"Africa's surging population has piqued the interest of the business world. China's foreign direct investment in Africa has been expanding at double-digit rates<\/a> in recent years. In a recent visit to Ghana, Vice President Kamala Harris said the US will do more to promote African investment<\/a>. And a McKinsey report<\/a> out this week called Africa\u2019s economic growth vital for the world."},{"acf_fc_layout":"sidebar","layout":"standard","image_reference":null,"image_reference_figure":"","spotlight_image":null,"section_title":"","spotlight_name":"","position":"Left","content":"Article snapshot:<\/strong> Africa has emerged as a focal point of foreign direct investment. Companies entering this dynamic region need insight on African demographics to guide business choices and support communities.","snippet":""},{"acf_fc_layout":"content","content":"Africa's expansion is an opportunity, but also a challenge. The continent's sheer size and massive demographic shifts may be perplexing to business executives exploring these markets for the first time. Because this is largely a matter of geography and insight\u2014the ability to comprehend Africa's demographics and markets<\/a>\u2014it makes sense for investors to take a data-rich, location-centric approach.\r\n\r\nIn 1990, fewer than one-third of Africans lived in areas with populations over 10,000. Today, 7 of the world's 10 fastest growing cities<\/a> are in Africa, according to United Nations estimates.\r\n\r\nMuch of that growth is happening outside the largest urban centers. The Economist<\/em> recently noted that 15 of the 20 African cities experiencing the most growth<\/a> have populations under one million.\r\n\r\nNigeria provides a striking example: It is home to Lagos, one of four megacities on the African continent, and also Gwagwalada, Africa's fastest-growing city.\r\n\r\nDepending on a company's strategy, executives might prefer to invest in one of the world's largest cities; a smaller, growing metropolis; or both.\r\n