Growing African middle class boosts freight demand

Africa’s logistics supply
chain is responsible for
delivering growing numbers of
refrigerators, television sets,
mobile phones and automobiles,
with demand driven by a
growing middle class.
Africa’s middle class spent
an estimated US$680 billion
in 2008 – or nearly a quarter
of Africa’s GDP based on
2008 purchasing power parity,
according to a market brief
prepared by the African
Development Bank.
Assuming consumption
expenditure in Africa continues
to grow at roughly the same
rate as the past 20 years, by
2030 Africa will likely reach
US$2.2 trillion in annual
expenditures and comprise
about 3% of worldwide
consumption, it says.