African economy is improving slowly but steadily. Many black african billionaires and millionaires have come up in recent times with the richest being Nigerian industrialist Aliko Dangote having a fortune of around 13.5 billion dollars.
West Africa, East Africa, Central Africa and Southern Africa in particular, are expected to reach a combined GDP of $29 trillion by 2050.
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A game-changer could be massive Chinese investments and development of infrastructure. They have made inroads in many african countries , and have solid relationships with African leaders.
The Chinese have offered large number of scholarships to African students to study in China and nearly hundred thousand african students are enrolled in chinese universities.
Access to African resources is key to China's economic development and hence China has a substantial presence in Africa at the moment.
An advantage the Chinese possess is that they lack the historical baggage of black slavery, colonial exploitation, racism and economic exploitation which Africa unfortunately shares with the west. For this reason, African leaders seems to be more comfortable and less wary dealing with the Chinese .
Oil rich Arab nations, Japan, India, South Korea , ASEAN similarly have increased their investments in Africa .
Africa being the second largest continent have untapped mineral wealth and natural resources that can become major aids to its economic development.
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