Investing in africas economy

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Another e-commerce leader, Jumia, employs 3, people across Africa but has another , commission-based affiliates who help customers make orders. The rise of the gig economy on the continent has allowed many to join new labour markets, but they are faced with many risks. This leaves gig workers exposed to subjective firing, non-payment of wages, unfair payment and unfavourable working conditions.

Workers are mainly attracted by the freedom and flexibility offered by gigs, but these do not necessarily translate into improved working conditions or livelihoods for many. It disguises the long, lonely and irregular working hours quite common among gig workers. The fear of losing jobs keeps workers trapped in continuous cycles of exploitation, especially those who are new to gig work.

This may even lead to health issues emanating from factors related to working conditions. There is an immediate need to regulate gig work platforms by developing and enforcing a set of labour standards for platforms to comply with. The Covid pandemic has helped expose the need to protect gig employees as they do not have the privilege of paid leave or terminal benefits like their formally employed counterparts.

Workers should also look into innovative ways of forming unions so that they can have a collective representation to ensure bargaining power. This can be effectively achieved through social media networks. Leapfrogging Informal Economies Gig economies have the potential to create higher efficiency and increase economic productivity. For that to happen, there is a need to increase investment in start-ups that are providing gig work. One great example of a company that has shown efficiency in the gig economy is Jumia , which has taken the African continent by storm.

It has the largest e-commerce platform and is now present in 16 countries delivering over 8 million packages a year. Jumia employs 10, commission-based sales agents across Nigeria who are typically young people with an understanding of technology, such as recent graduates or young mothers, eager to make extra income. Jumia provides them with customer service training and the modalities of how to shop on their site.

Here we look at Africa's economic development since and its future prospects. Key Takeaways Since , many countries in Africa have turned their economies into attractive prospects for emerging market investors.

The continent has extensive natural resources, a young and increasingly educated workforce, more stability in terms of governance, and more prospects for economic growth than in years past. For new investors looking to make a small investment, mutual funds or exchange-traded funds make the most sense. More experienced investors may also consider American depositary receipts ADRs as a way to participate. Still, the continent is a riskier prospect for investors than more developed regions, and should be approached with caution and due diligence.

It is home to vast gold, platinum, uranium, cobalt, and diamond reserves. Africa also has the advantage of a large and relatively cheap labor force. The continent is undergoing a demographic transformation, with youth as its theme; there is a very high proportion of Africans in their 20s and 30s with fewer dependents—both old and young—that will play out over the next decade. There is stability in terms of governance, and many countries that witnessed terrible periods of unrest have emerged as success stories.

There are better policies in place, trade has improved and so has the business environment. The sectors expected to grow the most by are food and beverages, education and transportation, housing, consumer goods, hospitality and recreation, healthcare, financial services, and telecommunications. Stocks Mirror the Economy Sub-Saharan Africa has around 29 stock exchanges representing 38 countries including two regional exchanges.

These exchanges have a lot of disparity in terms of their size and trading volume. The continent has a handful of prominent exchanges and many new and small exchanges that are characterized by small trading volumes and few listed stocks. Efforts are being put in place by all countries to boost their exchanges by improving investor education and confidence, improving access to funds, and making the procedures more transparent and standardized.

How to Invest African stock markets come in different varieties, and they require deep understanding to select the appropriate stock exchange. Due diligence is key. Investing through a mutual fund or exchange traded fund ETF is often a better bet for small investors looking for exposure to the economies of Sub-Saharan Africa.

Such funds track a large basket of companies doing business in the region, rather than relying on any single stock or venture. Direct Access It is possible to invest in African stocks directly, although this route may come with additional risks. Some foreign stocks trade in North American exchanges as depositary receipts , securities that represent stocks in a foreign company. Domestic brokerages, such as Fidelity , also offer trading in international stocks, although doing so does involve some additional paperwork.

There are downsides to trading international stocks. According to the U. Securities and Exchange Commission , domestic traders may face additional risks on the foreign stock market. Foreign companies may be subject to less stringent regulations or reporting requirements than those at home, and U. In addition, foreign securities are often priced in a foreign currency, adding an additional layer of risk for the U. It holds about 75 stocks and has a country allocation top three to South Africa Over the five years before , the fund has closed each year with an average 1.

Over the five years ending in May of , the fund gained annualized returns averaging 1. The remainder is spread to geographically diversify across Luxembourg, Canada, and Ireland.

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