Lisbon – The third largest continent in the world will host the youngest economically active population by 2040 and, in 20 years, the African population should reach 2 billion people (double the current population), according to the executive secretary of the Economic Commission for Africa (ECA), Carlos Lopes.
They will be living mostly in urban than rural areas, will be more educated than the current population and will operate in several economic activities. “They will be the largest young labour reserve in the world,” said Lopes, at the closing of a conference at the headquarters of the Community of Portuguese-Speaking Countries (CPLP), in Lisbon.
The abundant labour force increases the economic potential of the continent which has 12% of the world’s oil reserves, 40% of the gold reserves and 60% of potential farmland. The availability of natural resources attracts foreign investors, especially the Chinese, but also Brazilian companies like Vale and Petrobras, in more than one country.
According to Lopes, of the 20 economies that grow most worldwide, ten are in Africa. As is the case in Brazil, part of the growth (rates above 5% in Sub-Saharan Africa over the next few years) is stimulated by the local market (two thirds of demand).
*Translated by Mark Ament
