With over 200 million people currently aged between 15 and 24 years old, Africa has the youngest population in the world and according to the African Development Bank, this figure is expected to double by 2045.
“As far as investments go, I think Africa is the future for investments. The light is so bright and so clear,” Akon, multiple award winning recording artist told CNBC Africa.
Earlier this year, the World Bank revealed that the net Foreign Direct Investment (FDI) inflows to African countries grew by 16.2 per cent to 43 billion in 2013.
“Everything that is happening in Africa from the resources down to the human resources is going to help the rest of the world but Africa is still [behind] when it comes to development. There is so much to be done here so I think it’s a prime real estate investment place,” he said.
The multiple award winning musician has invested in a South African diamond mine and the artist signed some Nigerian artistes onto his record label.
“Clearly [entertainment] is my niche and that’s how it all started from. It all started with me investing in the entertainment sector. I started a record company in Africa and signed, Wizkid, P-Square, Davido so it’s like we created this synergy of young artists that could cross over,” he explained.
“Their creativity is amazing. That’s one of the reasons why I wanted to invest here because I just wanted the rest of the world to see what I was seeing,” he added.