Based on projections from the United Nations, Africa's population is expected to double by the year 2050. Currently, Africa's population is about 1.2 billion and is set to hit 2.4 billion in the next 30 years. At around the year 2100, it is expected to hit about 4.3 billion. What this implies is that by that time, about 33 percent of the world will be residing in Africa. This indicates clearly that Africa is on a pace to catch up with Asia by the end of the century.
One of the biggest challenges Africa is facing today is lack of jobs. By the time Africa hits 2.4 billion around year 2050, Africa will need about 800 million jobs to sustain its youthful population because according to the African Development Bank, over one-third of Africa's population will be youths.
Africa needs a private-sector led growth to drive economic transformations. We should not wait for the West to give us aids or for them to invest, instead Africa should engage with other emerging markets like the Middle East.
Globe Chamber of Commerce and Industry will be organizing Middle East-Africa Economic and Investment Forum. This forum will be a catalyst for a cross boarder trade and Investment flow linking the Middle east with Africa and this can enrich both sides.
Middle East-Africa Economic and Investment Forum will be a networking point for the Middle Eastern and African Investors as Globe Chamber of Commerce and Industry is proposing that the best way to reposition Africa for the future is by engaging with emerging markets.
Speaking to news men over the weekend, The President of Globe Chamber of Commerce and Industry, Hon. Buchi George, said strategic partnership with the Middle East is one of the keys to global development at the moment.
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