Business
Aviation industry in Africa to expand at annual rate of 5.6% over the next 20 years
Kenyan Pilot, Captain Irene Mutungi. PHOTO/File
Given the rate of expansion in the aviation industry on the continent, it is a sector that will continue to attract both local and foreign investment.
It is now common knowledge that generally, Africa’s economy is growing and rapidly expanding – this too is reflected in the aviation industry.
The days of used jets from Europe being dumped in Africa are long gone with the continent now boasting a small number of sophisticated airlines such as Ethiopian Airlines, Kenya Airways, Arik Air and South African Airways, operating some of the most technologically-advanced aircraft on the market today.
It has been predicted that passenger traffic in Africa will grow at an annual rate of about 5.6 percent in the next 20 years– outpacing the world average of just 5 percent.
However, despite the aviation industry’s high-flying potential, there are still many issues to be addressed if it is to properly take advantage of both internal and foreign investment.
(More: Profile: Sibongile Sambo founder and CEO of SRS Aviation)
African airlines need to continue to update their fleets to compete against carriers from Europe and the Middle East. Aviation should be seen as an enabler of economic development. It is because of this that investments should be made to improve infrastructure to accommodate and encourage growth in aviation.
