Africa Risk-Reward Index 2024 | Opportunity through transformation
Oxford Economics Africa and Control Risks are pleased to launch the ninth edition of the Africa Risk-Reward Index. This authoritative report is designed to provide policymakers, business leaders, and investors with a comprehensive guide to navigating the evolving investment landscape across key African markets.
26%
The share of African youth not in employment, education or training
56%
The increase in African container port throughput between 2010 and 2022
7
The number of African countries with national AI strategies in place
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Highlights
In this ninth Africa Risk-Reward Index, Control Risks and Oxford Economics Africa compare some of the continent’s largest and emerging markets, offering investors a comparative snapshot of market opportunities and risks across Africa in the year ahead. The report examines three key themes outlined below, summarising Control Risks’ and Oxford Economics Africa’s views on Africa’s trajectory in the year ahead.
Bridging the generational divide – a new era for African politics
In South Africa, the ruling party lost its parliamentary majority in the May 2024 elections. In Senegal, the opposition candidate achieved a resounding victory, further illustrating the changing political dynamics in the region. In Kenya, young people organised nationwide protests that led the president to dismiss the entire cabinet. Businesses must now operate in a less predictable security and policy environment, as governments strive to balance investment attraction with rising societal demands.
White elephants and lifelines – the megaprojects reshaping the continent
Over the past decade, Africa has witnessed a significant surge in infrastructure investment, with large-scale energy, port, and rail projects taking centre stage. These megaprojects are often seen as catalysts for transformative economic growth, addressing long-standing deficiencies in trade corridors and enhancing connectivity across the continent.
Emerging technologies – supercharging economic development
The advent of artificial intelligence (AI) is poised to unlock new opportunities for innovation across Africa. AI applications in agriculture, climate adaptation, healthcare, and education offer the potential to accelerate economic growth. However, African governments risk lagging their global counterparts in regulating these technologies. Countries like Morocco, Rwanda, and South Africa are taking proactive steps, but others may adopt a more cautious approach, leading to a fragmented regulatory landscape.
