Written by: iPay
Tuck Emerging Markets Conference 2021
iPay was recently privileged to participate in the Tuck Emerging Markets Conference 2021 (TEMC), an annual conference hosted by the Tuck School of Business at Dartmouth. This year’s theme highlights growth engines in Emerging Markets while discussing the importance of investing in emerging markets, and the success factors that empower growth.
Sub-Saharan Africa, a region that excludes the Middle East and North Africa, consists of 48 countries and boasts a population of over 800 million people. That's almost triple the population of the United States (300 million) but substantially less than India (population 1.1 billion) or China (1.3 billion). South Africa, by far the most developed economy in the region, dominates Sub-Saharan Africa economically, accounting for more than one-third of the region's GDP. Moreover, till 1989, only five sub-Saharan African countries had stock markets; today, 16 countries, including Ghana, Malawi, Swaziland, Uganda, and Zambia, have them. And did you know that between 2010 and 2020, the capitalization of African stock markets more than doubled – an outstanding growth by any standards.
The IMF estimated GDP growth in the region would hit 6.6 per cent in 2025. This means that if you take India and China out of the equation, sub-Saharan Africa is actually growing faster than Asia. With the notable exception of Zimbabwe, inflation in Africa is largely under control. Mobile phone penetration is soaring and is boosting economic growth rates.Share your thoughts