CHAPTER 2
THE BIG FIVE
GROWTH TRENDS WITH A TWIST
By now, we hope we’ve convinced you that Africa is a key market to watch. But we’ve also made it clear that the lions of African business are outpacing their slower rivals, and sometimes eating them for lunch. The companies that turn Africa’s opportunity into successful enterprises have a common starting point: their insight into the long-term growth trends under way across the continent.
Consider the example of digital payments. By some estimates, cash is used for more than 99 percent of payments in African countries such as Ethiopia and Nigeria; by contrast, digital channels account for more than half of all transactions in many European countries.1 Cautious investors might see that gap as a ...
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