Africa has the potential to surpass traditional global talent hubs like the Philippines. Africa's median age is just 19.7 years, the youngest in the world, offering a vast reservoir of untapped talent. By 2050, the population is expected to double to 2.5 billion, expanding the labor market significantly. Over 12 million young people enter the job market each year. Where other markets for global talent seem to be tapped out, Africa is just getting started.
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Those fancy social networking clubs that Western countries have? They're making their way to Africa, too. The Burns Brothers are opening an HQ location in Tatu City! Rendeavour Michael Burns John Burns
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African countries account for 9 out of the 20 fastest-growing economies in the world. Look even closer, and you'll see that some even surpass traditional global hiring hubs like India and the Philippines. What we're seeing now is a glimpse into the future, a future where Africa is a hub for global resourcing.
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Expand your bubble. When you expand your talent pool, you realize there is talent in every corner of the world. Michael Burns John Burns
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The US tech industry is facing a major roadblock. STEM jobs are projected to grow 10.8% between 2022 and 2032, nearly 4x faster than non-STEM jobs. By 2025, the US will need to fill about 3.5 million STEM positions. But a staggering 2 million of these may go unfilled. Enter Africa's talent pool, which historically has been largely overlooked. The Big Tech companies are all over it, though, as they continue to build big teams on the continent.
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One of the most sought-after and highest-paid roles in the US is available in Africa. African software developers could be the perfect match to complete your team. Check out the data: ->There were nearly 700,000 professional software developers in Africa in 2023. That's according to data from LinkedIn, and the IFC. ->More than half of those are in South Africa, Egypt, and Nigeria. And those numbers are growing quickly. In 2022, several African countries were among the fastest growing on GitHub, a platform used by developers. Nigeria's GitHub community grew 69% year over year, and Ethiopia's grew 66%. The world is changing. The average tech team will look a LOT different in 5 to 10 years time. Exciting to watch it unfold.
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Rwanda's GDP growth rate is nearly 4x that of the US. Its economy is robust and healthy. The country is transforming from a traditionally agriculture-based economy to a tech, energy, and hospitality-based economy. Rwandan students are earning STEM degrees at a growing rate. In the 2013-2014 school year, 54% of students at the University of Rwanda, the country's largest university, studied STEM. In the 2021-22 school year, 67% of students studied STEM. What do all of these signs point to? An overlooked opportunity for educated, motivated, and tech-savvy talent.
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By 2050, Africa's population is projected to double, with 60% under 25 years old. What does that mean? It means that Africa should be on every employer's radar. This demographic presents a massive opportunity for global industries needing young, motivated talent. As Africa's young population rises, so does its potential to catalyze economic growth and technological innovation. The best bet a business can make right now is investing in Africa.
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1w"Africa's median age is just 19.7 years, the youngest in the world, offering a vast reservoir of untapped talent." You need to think about why that is the case.