Sub-Saharan Africa’s economy is on the rise and expected to exceed US$ 2 trillion by 2020, according to a new report from the IFC, entitled Shaping the Future of Africa: Markets and Opportunities for Private Investors. This rapid growth has been driven by Africa’s services sector, which represents an exciting economic opportunity as it contributes more than half the region’s output growing at an average 6.6 percent over the last decade as the middle class in the region continues to expand. According to the report, by 2030 Africa’s middle and high-income groups are expected to grow by 100 million, boosting them to over 160 million people across the region. These consumers will spend smaller portions of their income on basic necessities such as food and beverages and more on transportation, ICT, housing, education, clothing and footwear, pharmaceuticals, and other products and services. This shift in spending patterns represents not only an exciting investment opportunity, but also one of the most vibrant opportunities for Africa’s women entrepreneurs to break into a powerful marketplace.

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