Joe Studwell’s book, How Africa Works, explores Africa as a significant untapped market facing economic development challenges. He highlights factors such as sparse populations and rapid population growth that impact the continent’s growth trajectory.
According to KrASIA, Africa’s population has expanded from approximately 1.2 billion in 2014 to more than 1.5 billion in 2024. This rapid increase underscores both opportunities and pressures on infrastructure, resources, and markets across the continent.
For Japanese investors and companies, understanding Africa’s demographic trends is crucial as the region’s expanding consumer base offers potential for growth in sectors like technology, finance, and commodities, albeit with inherent developmental hurdles.