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A new report from the McKinsey Global Institute (MGI) Lions on the move: The progress and potential of African economies projects that at least four groups of industries in Africa could together generate as much as $2.6 trillion in annual revenue by 2020, or $1 trillion more than today.
Africa’s GDP rose twice as fast from 2000 through 2008 as it did in the preceding two decades. Africa’s growth acceleration was broadly based, resulting from more than the global commodity boom. All sectors contributed, including finance, retail, agriculture, and telecommunications. Key to the growth surge were government reforms that created greater political stability, improved the macroeconomic environment and fostered created a healthier business environment.
The outlook for further growth in Africa’s resource sectors remains promising. We estimate the total value of annual production could grow steadily at between 2 percent and 4% a year, to $540 billion by 2020.
Today, 40% of Africans live in cities, a portion that is close to China’s and continuing to expand. As in other developing economies, urbanization in Africa is creating jobs, boosting productivity and lifting incomes. The number of households with discretionary income is projected to grow by 50% over the next 10 years, reaching 128 million
By 2030, the top 18 cities in Africa could have a combined spending power of $1.3 trillion.
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He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.