Hespress FRSunday December 22, 2024 – 9:25 p.m.
Africa's population is expected to reach some 2.5 billion people in 2050, with a median age of 20 years, which will be the youngest of all continents, according to a document published by the Economic Commission for Africa. United Nations (ECA), based in Addis Ababa.
This young population represents a valuable demographic dividend, which can be harnessed in the form of labor for industrial development, reads the concept note of the 8th Africa Business Forum planned for Addis Ababa in next February under the theme “From potential to prosperity: activating regional value chains in Africa”.
“Furthermore, taking into account the $60 billion spent annually on food imports in Africa, the continent's large population represents a considerable potential domestic market for agricultural products produced by regional value chains . The implementation of the AfCFTA Agreement will boost intra-African trade by removing barriers to trade and investment, while improving access to larger global markets,” notes the document published on the CEA website.
The 8th African Business Forum will build on the work of the ECA, regional economic communities and bilateral government initiatives to identify projects likely to be financed across the continent, it is notably indicated.
