Could This Be the African Century?

Abstract

Demography will shape Africa's future. Africa's current population is 1.3 billion. Some forecast that, it will double by 2050. This essay contends that narratives about Africa tend to be negative. If Africa is home to 2.6 billion people, or a quarter of the world's population, Africa will play a decisive role in shaping the future of the world. A number of socioeconomic indicators support an African Century narrative, which would result in a shift from policies driven by perception to those driven by reality. The youth bulge in Africa, if managed properly is, for instance, not just a fuel for African economies, but also for the rest of the world, especially Europe. Chinese investors in Africa adjust to the local context extremely quickly, and are not perceived as expatriates having living standards way above the rest. They instill an entrepreneurial "can do" attitude against adversity. Chinese perception of risk is also very different from traditional western investors. These characteristics make China a good partner for the industrialization policies being pursued by African countries. Keywords Demography will shape Africa's future · Africa's current population is 1.3 billion · Narratives about Africa tend to be negative · Africa will play a decisive role in shaping the future of the world · African Century narrative · The youth bulge in Africa · Chinese investors in Africa · Chinese perception of risk is also very different Narratives about Africa tend to be negative. Embedded in historical simplifications and dismissiveness the current changes being observed on the mainstream views about the continent have a lot to do with a stronger agency and significant achievements. While the 'Africa Rising' storyline tends to on about new business opportunities, more voices admit the possibility of an African century. The adoption of the UN's Millennium Declaration-and its companion Millennium Development Goals-inaugurated a new era. Prescriptive structural adjustment policies were replaced by goals, meaning different ways of attaining objectives or, in economic jargon, policy space. Around the year 2000, Africa started to demonstrate a C