Atta Africa Financial Update

Africa is poised to have the largest labour force in the world.

By 2035, Africa's labour force will be bigger than that of any individual country in the world, which offers the continent a chance to reap a demographic dividend, using its young and growing workers to boost economic growth.

As Africa's workforce grows, the number of children and retired people that each worker supports will fall to be par with the US and Europe in 2035, the other part of the demographic dividend.

With fewer dependents to support, African households will begin to enjoy even greater discretionary spending power, further driving growth.

Today 40 per cent of Africans have some secondary or tertiary education. By 2020, it will be nearly half. But African countries still need further progress to remain economically competitive. While 33 per cent of Africans in the labour force receive secondary education, 39 per cent of workers in India and 66 per cent in China receive education at this level.

Google in talks to back massive African wind project

  • Google is negotiating to become an investor in the Lake Turkana Wind Power Project
  • The project is a US$700 million, 40,000 acre undertaking in Kenya
  • It's the largest private investment in the history of the East African country
  • The new 310 megawatt capacity is expected to boost Kenya's installed energy capacity by 20 percent
  • The deal is not finalised - according to those close, Google's would be a minority stake