Boston Consulting Group recently published a thought provoking report "The African Challengers: Global Competitors Emerge from the Overlooked Continent". The report calls the perspective that a continent with only 4% of the world's GDP is "out of date". The report states:
"Between 2000 and 2008, Africa's annual GDP grew by 5.3% (adjusted for PPP), compared with 4% globally. The rise in commodity prices partly explains this performance, but exports and local demand also played strong roles."
As always, the BCG report is thorough, with explanation and data to back up claims, and visuals and graphs to explain the information. Download the complete report here.
List of the top global challengers according to the report:
This growth has the affect of opening up the markets for imports of consumer goods, and new services as the shopper/consumer strength grows with the PPP. Exciting times! And with the FIFA World Cup 2010 providing a showcase opportunity, BCG's timing is apropos and perhaps African markets are moving from Frontier to Emerging.