Sub-Saharan Africa is home to more than 1 billion people composed of a bulk generation of young people. It is a diverse continent with both human and natural resources that yield inclusive growth and eradicate poverty in the region within the foreseeable future. With the world’s largest free trade area and a 1.2 billion-person market, the continent is developing a completely new development path, harnessing the potential of its resources and people. Its trajectory is in the right direction.

The region is composed of low, lower-middle, upper-middle, and high-income countries, 22 of which are fragile or conflict-affected mostly around central Africa. It has large reserves of natural resources and varied means of economic breakthrough. In this article, we will expound on the key drivers for Africa's future economic prosperity.

1Energy

Africa has significant resources for generating energy in several forms from hydroelectric, reserves of petroleum and gas, coal production, uranium production, and renewable energy such as solar, wind, and geothermal which can power the continent and supply trade.

The continent is working toward establishing advanced transport and communication that will boost the returns to a greater height. The largest consumers of electric power in Africa are South Africa, Libya, Namibia, Egypt, Tunisia, and Zimbabwe, which each consume between 1000 and 5000 KWh/m2 per person.

Petroleum and petroleum products are a resource that is benefited mostly by countries by ordering the Sahara desert. Petroleum and petroleum products accounted for a 46.6% share of Africa's total exports in 2010 becoming u the second largest export of Africa as a whole is natural gas, in its gaseous state and as liquified natural gas, accounting for a 6.3% share of Africa's exports. Although the use of nuclear power is not harnessed in the continent, South Africa is putting effort into its usage becoming the only country in the continent using it.

2Urbanization

This in its own right is an economic driver. The movement of people from rural areas to urban areas means forced infrastructural development, high consumption, and increased trade.

Africa’s long-term growth will increasingly reflect interrelated social and demographic changes creating new domestic engines of growth. In 1980, just 28 percent of Africans lived in cities. Currently, 40 percent of the continent’s one billion people are ahead of India and slightly below china. By 2030, that share is projected to rise to 50 percent.

In many African countries, urbanization is boosting productivity due to the shift from agriculture to production due to high demand, and investment. Urbanization, meaning a bulk of people spur the construction of more roads, residential areas, water systems, etc. Since 2000, Africa’s annual private infrastructure investments have tripled, averaging $19 billion from 2006 to 2008.

3Expanding workforce

While it's growing at a first rate, it's expected to compound further, especially since its population is comprised of a huge number of young people. The rest of the world unlike Africa consists of a more elderly population. The continent has more than 500 million people of working age. By 2040, their number is projected to surpass 1.1 billion, more than in China or India, directly influencing GDP growth.

The past decades have seen three-quarters of the continent’s increase in GDP per capita come from an augmenting workforce due to a remarkably high number of young people, the rest from higher work productivity. With the increased literacy levels, and the spread of technology.

4Agriculture

Agriculture in Africa has an enormous economic imprint with high dependence on it. More than 60 percent of the population of sub-Saharan Africa is small-scale farming bulk and about 23 percent of sub-Saharan Africa’s GDP comes from the agricultural sector. The cultivation of a variety of products from cash crops to subsistence farming. From employment to production, it supports a big g portion of livelihoods within the region.

How agriculture boosts the economy

• Stimulates industrial expansion through productivity and manufacturing of agricultural products like tea or cocoa. Expansion in the agriculture sector also led to the expansion of the industrial sector as it will demand more capacity to incorporate the expanded production.

• Employment. When there is an increase in the agriculture sector. The industries, logistics, marketing, and the whole chain from the farm to the table demand manpower to make it a success. A higher agricultural sector means a higher demand for employees.

• Aids for Capital creation. It's all more important because with the existing modern capitalist sector being small, there is little that can come from this sector by way of surpluses or profits for investments, this is where the sector comes in and provides the needed capital for other investments through the surplus production.

• Supply of Foreign Exchange. Agriculture can contribute a great deal to earning foreign currency through the export of agricultural products. It's the main foreign exchange earner as the other sectors are still developing.

• Source of food and needed raw materials. Feeds the requirement of industrialization through the provision of the needed raw materials. Agriculture plays a very role in development. Contributes to many patron goods like oil, clothing, etc. Further food grains are very important for underdeveloped economies. In case of a shortage of food, it helps a lot in developing countries as mass import is not possible.

5Tourism

Africa’s unique history and natural wonders are gaining attention amid the local and global increase in cultural awareness and acceptance of the existing differences. On estimations of various countries’ governance and business climates, it is clear that several African countries present tremendous promise to become or remain vibrant hosts for tourists, investors, and entrepreneurs, which can drive employment for low-skilled workers and economic inclusion for women and youth. The favorable climate consistent with political stability, well-maintained tourist sites, and amicable people will boost further the industry.

In 2015, foreign direct investment to the continent totaled $54 billion and official development assistance totaled $51.04 billion, while tourism generated $39.2 billion and created 9.1 million direct jobs within the sector.