In a previous article, we talked about Africa’s growing food market. The food industry in Africa is growing at a steady pace, with experts predicting a value of more than US$ 1 trillion being fulfilled by local producers and home-grown products.
The Africa Agriculture Status Report also stated that agriculture will be Africa’s quiet revolution.
Further studies revealed that the agriculture industry is not the only industry that is secretly growing across the continent.
The manufacturing industry, as well as technology companies, are growing at the same steady pace, albeit at a different rate. Is this the sign that a booming economy is just around the corner?
A Growing Job Market
One of the strongest indications of such growth is the increasing demand for skilled professionals in many fields. Companies are actively recruiting skilled workers for specific positions, including mid- and top-level management positions.
37% of the continent’s population is living in urban areas and big cities. The majority of the workforce, including those living in Ghana, work in sectors such as agriculture, but that doesn’t mean our industries aren’t growing.
Cities across the continent now offer more opportunities. At the same time, businesses are branching out into other areas to decentralize their operations and save costs.
Labour costs are still relatively low outside of the major cities, attracting new factories and more companies to these areas.
Influx of Foreign Investments
It is also not surprising to find an increase in foreign investment across Africa. Ghana has been attracting a lot of international companies to invest in various industries. The manufacturing industry is the most attractive due to the relatively low labor costs and supportive regulations. At the same time, age-old issues such as corruption are still there, acting as a barrier to more investment.
Foreign investment is helping the economy grow at a faster rate. A flow of capital into countries like Ghana is helping the economy gain leverage.
The investment reaches the general population relatively quickly and the conditions are perfect for optimum growth. Investments create jobs and there are more than enough workers to fill them.
Human Resource Development Is Key
Naturally, the growth of job opportunities requires the workforce to grow as well. The majority of workers may be low-pay, low-skill workers in sectors such as agriculture, but the demand is rapidly shifting towards skilled workers in different fields.
The shift is also among the many reasons why online courses from reputable US and European universities are very popular in Ghana. More students are attending online courses such as the online executive masters in business administration program from Washington State University.
Online courses allow the workforce to sharpen their skills and earn the qualifications they need to fill key positions on the market. The online executive MBA degree is in high demand due to companies expanding their operations to other parts of Africa.
Since these programs are 100% online, people also have the opportunity to venture into new fields and earn accredited degrees to be better and more valuable in the eyes of future employers.
The future is bright in Africa!