Six of the world’s 10 fastest-growing economies are in Africa, and one-third of African countries have GDP growth rates in excess of six percent. Only 24 percent of the economic activity comes from natural resources – the bulk of Africa’s development is based on urban-centered enterprise, and one-third of all people in Africa will have disposable income by 2020. With 52 cities in Africa that have populations greater than 1 million people – the same number as Western Europe – the African market presents a very strong opportunity for scalable growth. Much of the continent’s emergent economic growth is rooted in South Africa, making it the ideal location for launching HealthTech Express. South Africa is currently the 27th largest economy in the world and 43 percent bigger than the next largest economy in Africa.
Based on our research, we believe that there is a massive market opportunity that is currently not being met not only in South Africa, but throughout Africa, Latin America, Asia and other areas that have growing middle classes who want world-class health care.