The EmpiriQ Group was founded with the purpose of identifying, defining and implementing market driven economic development solutions aimed at the bottom of the economic pyramid market (BoP market) with a key focus on the emerging urban African market place.
“The world economic order is changing – the future of business in Africa”
The population of the BoP market is rapidly growing in urban areas of developing countries around the world. “Various research organisations have indicated that the future of all nations would depend, to a great extent, on the cities as the population in urban areas will double to more than 5 billion between 1990 and 2025.” This means that approximately 65% of the world’s population will then be living in towns and cities. About 90% of urban growth will occur in developing countries alone. 95% of the population on the African continent falls within the BoP and is responsible for 71% of the African market. The United Nations stated in a 2007 report that the urban population in African and Asian cities will double by the year 2030, adding 1.7 billion people to these cities. That is more than the combined population of present day China and The United States!