SPECIAL REPORT
A snapshot of AFRICA IN THE NEXT FIVE YEARS Tech, sustainability and trade trends
In this special report, Fitch Solutions unpacks the broader medium- to longterm trends in technological adoption, and a stronger push for ESG, as potential drivers of long-term economic and social development on the rapidly expanding continent. 8
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round 603.5-million people in Africa are urban residents, and by 2030 we estimate that this will rise to 817-million, and further to 1.47-billion by 2050. Sub-Saharan Africa (SSA) is leading the growth, as the share of the urban population is projected to increase from 41.8% in 2021 to 46.8% and 58% by 2030 and 2050 respectively. With this rapid growth in urban clusters, economies across the region will see increased demand for goods and services particularly for consumer facing sectors such as food and drink, retail, autos, agribusiness, healthcare, ICT as well as industries such as power and construction.
