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Africa 2030: Points of viewAfrica 2030 - Realising the possibilities offered by the last frontierJohan van ZylJohan van Zyl is the Group CEO of Sanlam, a South African headquartered financial services group,with growing interests across emerging markets in the rest of Africa and in Southeast Asia, as well asin Europe, the US and Australia.Africa’s time has come! In a period where major companies andbrands from the developed world are looking for ‘the holy grail’of growth, Africa is considered to be the last frontier. With atotal population of over one billion people and with over half thepopulation currently being under the age of twenty, the continentis set to have the world’s largest workforce within the next twodecadesAfrica’s rise is real. The economies of several African countrieshave amongst the highest growth rates in the world. This hasbeen achieved off the back of significant economic, social andpolitical reforms and democratisation as well as growth in tradeand investment, all factors that have contributed to substantialimprovements in the quality of life. Importantly, this growth has notbeen limited solely to natural resources, but can be attributed alsoto sectors such as agriculture, manufacturing, construction andservices, all of which are making substantial contributions to raisingstandards n the continent.A key driver for sustained growth will be foreign direct investment(FDI) occurring within the improved business environment. Thisinvestment, from beyond the African continent and also betweencountries within the continent, will not only be the major sourceof capital, but will drive job creation, skills development andtechnology transfer leading to the modernisation of Africa’seconomies.The very real technology ‘leap-frogging’ taking place on the backof accelerating urbanisation and growing retail opportunities,particularly in the communications and financial arenas, will givenecessary impetus to the economic transformation across thecontinentWhile there is a perception gap which constitutes a barrier to somenew investors, many others are already successfully doing businessin Africa. First-mover advantages are evident in many sectors.In addition, successful companies in the retail and services spaceshave some common characteristics and strategies. These resonatewell with Sanlam’s own experience for successfully entering Africa:• First, and probably most importantly, successful companiesrecognise that Africa is not a single country, but constituteover 50 very distinct markets, each with its own characteristicsand requirements for success. Africa is diverse, requiringdifferent strategies; what works for one country may not workfor another.64