China poised to further grow business in Africa with European companies losing out

Africa?s population growth has far outstripped that of Europe and projections suggest it will continue to do so. Africa is expected to represent 15% of the world population by 2050 compared with 10.8% in 1980. At the same time, the share of the European Union 27 in the world population is forecast to fall from 10.3 % to 7.3%. The EU-27 deficit in trade with Africa is due to imports of mineral fuels, crude oil and natural gas. South Africa and the North African countries were key African markets for EU-27 exports in 2010. The mobile-phone market has risen strongly in both the EU-27 and Africa since 2002, with a tenfold rise in Africa. In 2009, 43.9% of the African population owned a mobile phone compared with 4.3% in 2002. However, it's China that is poised to grow its business after tripling its market share in Africa since 2002.
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