Africa is a major source of raw materials for the world market. The continent is home to vast reserves of minerals such as gold, diamonds, copper, cobalt, and platinum.
African countries are increasingly diversifying their economies beyond just raw materials, with many investing in manufacturing and services sectors.
Africa has a large and growing consumer market, with a population of over 1.3 billion people.
The African Continental Free Trade Area (AfCFTA), which was launched in 2021, is expected to create a single market for goods and services across the continent, making it easier for businesses to trade with one another.
The agricultural sector is a major contributor to the African economy, with many countries exporting crops such as coffee, cocoa, and tea.
The tourism industry is also a significant contributor to the African economy, with countries such as Egypt, South Africa, and Kenya attracting millions of visitors each year.
Africa is home to several of the world's fastest-growing economies, including Ethiopia, Rwanda, and Ghana.
The African diaspora, which includes people of African descent living outside of Africa, is a significant contributor to the world market.
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