Africa's Growing Middle Class & What It Means For Global Trade

Africa's Growing Middle Class & What It Means For Global Trade

Africa has long since been written off, but how will the world rise up to meet it's business needs in this economic boom?

Have you thought about trade in the  African Market and never known what products to consider? Think no more, we’ve done the research for you! In 2021, the areas to look at for African trade are tech, pharmaceuticals, stationery, food, and chemicals. 

Chemicals

In the past several years, Africa has grown its chemical market exponentially. Most chemical needs come from a growing agricultural method utilizing organic chemicals, as well as raw materials used to make cosmetics, toiletries, and other goods that are exported out of Africa.

Tech

There is a lot to be said about Chinese technology, but one thing you can say about both India and China is that the tech market in both countries is sophisticated. There is a growing hysteria that China may be taking advantage of the lack of Western markets looking to Africa for supplies, and both China and India have created the foundation and diversity needed to produce the superior engineering products.

In Africa, Nigeria is leading the continent in the mobile handset market. The continent of Africa at large has seen mobile phone usage uptick by a whopping 65%! This makes the African market ripe for international traders looking for valuable export opportunities. 

Food Products
 
Africa is known for growing organic foods. The western world is catching up on the organic market which they moved away from. Sierra Leone has honey of every type being organically produced. Because of a variety of climates in African Countries, potatoes, okra, and yams grow ideally in African soil.

Peanuts are sold everywhere in Africa and have always been a stable snack. The world has always known that the exotic spices coming from African are used to create traditional dishes that can only be made correctly with the spice found there.

Thanks to the rapidly growing middle class in Africa there is not only a demand for the government to create proper infrastructure and management of the agriculture industries, but burgeoning investors involved in the food trade.

Are you ready to take the African market by storm?  Call us today to gain access to our vast network of businesses.