By 2030, Africa’s 18 largest cities are projected to have a combined spending power of US$1.3 trillion

The World Bank classifies a country as middle income if it has per capita gross national income (GNI) between US$906 and US$11,115. By the end of 2013, almost 50% of the 48 countries in Sub-Saharan Africa (SSA) had attained middle-income status, up from 27% in 2006 and with additional 10 countries (21% increment) poised to attain such status by 2025. In 2014, Africa has achieved high urbanization rates of 40% and by 2030, 50% of Africans will live in cities. The largest 18 cities will have a combined annual spending power of US$1.3 trillion. Read more here…