The demographic boom
Allied to its improving economies, Africa’s growth story is also being driven by demographic trends and urbanisation. Africa’s population is rising rapidly at a time when population growth is slowing in other global regions. UN projections suggest that the population of Africa will quadruple to over four billion by 2100, with nearly one billion of these people in Nigeria alone. This is arguably the single most important demographic trend that will shape the world over the course of this century.
Sub-Saharan Africa’s largest cities are some of the fastest-growing urban areas in the world. UN forecasts suggest that the populations of Lagos, Kinshasa and Luanda will all grow by more than 70% during the 2010-2025 period, while Dar es Salaam, Kampala and Lusaka are expected to double. By most estimates, Lagos has already overtaken Cairo as Africa’s biggest city and its population may be close to 40 million by 2050, making it a true global megacity.