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Low penetration across most African markets spell many opportunities for insurers, but success will depend on their ability to devise strategies to expand their foothold in a continent of 54 immensely diverse economies.   By Cynthia Ang   Numbers are pointing to solid economic and demographic dynamics in Africa. According to the UN, the region’s GDP is expected to accelerate from 3.5% last year to 4.6% in 2015 and 4.9% in 2016 due to private investment and consumption. Other key drivers such as increasing consumer confidence, an expanding middle class, improvements in the business environment and lower costs of doing business have also contributed to the continent’s economic growth.   An earlier report by the World Bank projected the region’s GDP growth to strengthen to 5.2% yearly in 2015-16 from 4.6% in 2014, despite weaker-than-expected global growth and stable or declining commodity prices. Significant public investments in infrastructure, increased agricultural production and expanding services in African retail, telecoms, transportation, and finance, will help to boost growth.  Read more