The performance of some of Africa's largest economies in 2018 does not inspire confidence for the year ahead.
Nigeria has endured a slow recovery from a recession caused by falling oil prices, as has Angola. South Africa entered recession for the first time in a decade.
But away from the flagship economies, emerging powers and international trends offer the prospect of new success stories.
Global management consultancy McKinsey & Company's new book "Africa's Business Revolution" identifies areas of potential progress and opportunity across the continent based on original research and interviews with hundreds of CEOs from leading African companies. The authors find regions that recall China before its own period of explosive growth, and suggest pathways that could yield similar gains.
Rapid urbanization will greatly expand the consumer class with disposable incomes, the authors predict, which will lead to a massive increase in business and consumer spending -- rising from $4 trillion in 2015 to $5.6 trillion in 2025. In the same period, increased Internet penetration will add $300 billion to the continent's GDP -- roughly equivalent to South Africa's output.
With the help of Acha Leke, co-author of "Africa's Business Revolution" and chairman of McKinsey's Africa office, we pick out some of the major trends and stories to watch in Africa in 2019 and beyond.
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