A few unknown facts….and the Africa of tomorrow!Posted in: AfriTech Summit
By Mwangy Mbugua
Some of the best historian have often said -
“Some of the most outstanding facts that has shaped our planet never see the light of the day”
A few of these unsung truths….
………. Africa was once the source of 90% of the world’s gold
………..One of the largest proven oil reserves is found on the African continent
………..Africa is the most polyglot continent on the face of the Earth
………..Unlike any other continent, most of the Africans can speak two native language and one European language
………..African continent represents the fastest expanding marketplace. Its 600 million people are growing at an average annual rate of 3 percent, compared to 0.5 percent in developed countries.
………..According to a Harvard Business Review – “The median profit margin for 1,869 businesses surveyed in sub-Saharan Africa was 11% (based on World Bank data) – better than comparable figures for Asia and South America.”
………..It is experiencing the fastest Growing investment from abroad. Africa is ahead of Brazil, India, and Russia. It’s second only to China.
……….. African business are having some of the most attractive valuations. The average price-to-earnings ratio for African companies is about 8 to 9 percent compared with the S&P 500, which has an average P/E ratio of about 15 or 16 percent.
Well, now we have these gem of facts – Its time for action!
AfriTech Kenya 2011 was the right movement at the right time of African history. Lets bring all the catalysts of change on a single platform and with a singular goal of -
“Transforming the business culture of Africa one byte at a time”.
Courtesy Of Afri Tech