December 16 2014 |
Financial Services
5 Realities Supporting the Idea of a Booming Insurance Market in Africa
For many decades, Africa was celebrated for its oil & gas and mineral riches, a trend that persists into the 21st century. However, this is not the sole narrative shaping the continent's future. The rise of the middle class, increasing from 26.2% in the '80s to 34.3% in 2010, has significantly fueled internal consumption and spurred the emergence of growth markets, including a booming insurance market. This shift is pivotal in understanding Africa's evolving economic landscape. (more…)