Africa Is Richer Than You Think

This Element is an excerpt from Africa Rising: How 900 Million African Consumers Offer More Than You Think (ISBN: 9780132339421) by Vijay Mahajan. Available in print and digital formats.

Africa: more consumers, more wealth, more opportunity for your business.

The average gross national income per capita across all 53 African nations in 2006 was about $1,066, more than $200 above India’s. This wealth represents a huge potential market. Serving this market means overcoming myriad challenges, but entrepreneurs across Africa are already feeding a fast-growing demand for every conceivable consumer good and service....