Omowale Jabali : Africa's Economic Boom

Discussion in 'Omowale Jabali' started by Omowale Jabali, May 3, 2011.

  1. Omowale Jabali

    Omowale Jabali The Cosmic Journeyman PREMIUM MEMBER

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    A New Class of Consumers Grows in Africa
    Market on Par With China's and India's.


    JOHANNESBURG—Sustained economic growth in Africa has produced for the first time a broad middle class, one that cuts across the continent and is on par with the size of the middle classes in the billion-person emerging markets of China and India.

    The rise of a middle class in the world's poorest continent is a dramatic marker for the global economy. At a time when the U.S., Europe and Japan are struggling to grow, Africa is beginning to beckon as a consumer of what other nations produce, thanks in part to a young population more upwardly mobile than ever before.

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    Customers at a mall in Johannesburg.
    .Over the past decade, the number of middle-class consumers in Africa has expanded more than 60% to 313 million, according to a new report from the African Development Bank Group. The study—one of the first efforts to document the contours of Africa's emerging consumer class—brings into focus a potentially huge and enticing frontier market for global investors.

    In the past few years, multinational appliance makers, telecommunications companies and retailers have piled into the continent in search of these consumers who, while still relatively poor, now have money in their pockets to spend, according to Mthuli Ncube, chief economist at African Development Bank Group, the parent of the funding arm.

    "They are creating demand, and it's driving growth," he said.

    Last year, the continent's 313 million-person middle class— those who spend between $2 and $20 a day—comprised about 34% of the population. Its number rivals that of the middle classes in China and India, according to the study, which was reviewed by The Wall Street Journal. A decade earlier,the number was 196 million, it said.

    http://online.wsj.com/article/SB100...96663397991894.html?mod=WSJ_hp_editorsPicks_2
     
  2. Ankhur

    Ankhur Well-Known Member MEMBER

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    Hopefully this will create a tidal wave effect to start free education across the continent,
    nationalization of under the earth resources

    and the development of the
    New Natural Resource for the Technical age;
    The Creative, and Innovative mind of the Black child,
    and the investment in their future as

    Intellectual capital

    If we have the Coltan and Lithium,
    We can have a Silicon or Green Energy Valley,
    of inventors, engineers and technicians, just like any one else


    Thanks for this post,
    it is good to see some good news for a change,
    after all of the 3 card Monte press in the last few days.
     
  3. Ankhur

    Ankhur Well-Known Member MEMBER

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    In the past few years, multinational appliance makers, telecommunications companies and retailers have piled into the continent in search of these consumers who,

    See that is the real issue, and hopefully with us investing some of the discretionary funds we have from our trillion dollars, we can assistsome of the 50 plus antions to become self sufficent in these products and not just self sufficient but be in the capacity in the next 20 years

    to
    create cell phones at a cheaepr price

    create big screen tvs cheaper

    create solarpower cells and wind turbines cheaper

    and yes one day make an excellent efficent top of the line
    fuel cell or electric car that these same folks will be scrambling to purchase from Black folks
     
  4. Ankhur

    Ankhur Well-Known Member MEMBER

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    The Organization of Afro-American Unity will take measures to free our people from economic slavery. One way of accomplishing this will be to maintain a technician pool: that is, a bank of technicians. In the same manner that blood banks have been established to furnish blood to those who need it at the time it is needed, we must establish a technician bank.
    We must do this so that the newly independent nations of Africa can turn to us who are their Afro-American brothers for the technicians they will need now and in the future.
    Thereby we will be developing an open market for the many skills we possess and at the same time we will be supplying Africa with the skills she can best use. This project will therefore be one of mutual cooperation and mutual benefit.


    http://www.malcolm-x.org/docs/gen_oaau.htm
     
  5. wetac0s

    wetac0s Well-Known Member MEMBER

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    This is because many african leaders decided to stop doing busniess with the White Devil....
     
  6. Therious

    Therious Banned MEMBER

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    what does S. Africa joining BRICS mean? I hear that BRICS will start to trade in their own currencies respectively, and not the US dollar.
     
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