Describe why Africa is a promising Market

Describe why Africa is a promising Market. Africa is one of the fastest-growing consumer markets in the world. Household consumption has increased even faster than its gross domestic product (GDP) in recent years—and that average annual GDP growth has consistently outpaced the global average.1 In light of the increasing affluence, population growth, urbanization rates, and rapid spread of access to the internet and mobile phones on the continent, Africa’s emerging economies present exciting opportunities for expansion in retail and distribution.

After years of colonialism, warfare, famine, widespread poverty, and rampant health problems ranging from malnutrition to the AIDS epidemic, Africa might not strike the average businessperson as a promising market. But Okosi saw reasons for hope, with economies showing signs of recovery in Angola, Uganda, Kenya, and elsewhere. He saw the incredibly rich music culture and the millions of people who were passionate about their music. The musical connection between Africa and America goes back centuries, actually, when the ancient singer-songwriter tradition from countries such as Mali found its way to the United States as a consequence of the slave trade.

Describe why Africa

The music eventually evolved into American blues and jazz, which then inspired rock, soul, R&B, hip-hop, and other styles. Meanwhile, today’s African popular music is a vibrant blend of traditional local styles and contemporary imports. For instance, the hip-life style popular in Ghana combines hip-hop with highlife, a jazzy, guitar-driven dance sound that dates from the 1920s.

International business encompasses all commercial activities that take place to promote the transfer of goods, services, resources, people, ideas, and technologies across national borders. International business occurs in many different forms, the movement of goods from one country to another (exporting, importing, trade), contractual agreements that allow foreign firms to use products, services, and processes from other nations (licensing, franchising), the formation and operations of sales, manufacturing, research and development, and distribution facilities in foreign markets. International trade is the exchange of capital, goods, and services across international borders or territories. It is the exchange of goods and services among nations of the world. All countries need goods and services to satisfy their people.

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