— by Reuben Coulter

There are major trends which will shape our world and the church for generations to come. The Christian community needs to prayerfully discern how to respond to these and particularly how faith driven entrepreneurs and investors can provide solutions to these opportunities and challenges.

1. Youth bulge 

Of the 1.8 billion youth today, 90% live in developing countries. The median age in Uganda is 16 years and in the Philippines it is 25, compared to 38 in the USA. The growth of jobs is not keeping pace with the growth in population which creates the potential for massive unemployment and social unrest.

2. Battle for Hearts and Minds

There is a battle for the hearts and minds of young people in developing countries. Christianity has spread rapidly in many parts of Africa and Latin America, yet it’s often ‘a mile wide but an inch deep’. The emphasis on a sacred-secular divide means Christian values are not expressed in the marketplace. In addition, a shallow ‘Prosperity Gospel’, emphasising individual materialistic success rather than the true Gospel, threatens to compromise the church. For young people, the faith of their parents feels irrelevant and unattractive compared to a materialistic, secular life. Other countries are unreached by the Gospel and may be hostile to Christianity. For those seeking meaning and purpose, faiths like Islam appear to offer a seemingly compelling vision and close knit community. Some Islamic nations and communities have a strategic, long-term vision of influencing societies and are actively utilising business and investment to these ends. This stands in contrast to most of the Christian church  which has been disengaged from the marketplace. 

3. Covid 19 and the Global Economic Crisis 

Many emerging and frontier markets have grown rapidly over the past 20 years, with the top 10 fastest growing countries all in Africa or Asia. However, much of this growth was fuelled by debt or commodities. This has failed to create significant job growth, foster value addition, or develop human capital, thus leading to inequality. The recent Covid-19 pandemic has led to severe economic stress and job losses across the world. According to the IMF, 40% of poor countries are either in a debt crisis or are rapidly approaching one. Small and medium businesses are particularly vulnerable with a recent survey (June 2020) showing that 12% had already failed and 49% were at high risk of failing.

4. Climate change 

Rapidly changing weather patterns are severely affecting emerging and frontier markets which are particularly dependent on agriculture. As temperatures rise, regions such as Africa will face declining crop yields and will struggle to produce sufficient food for domestic consumption, ast their major exports will likely fall in volume. Climate extremes have also led to an increase in droughts, flooding, and other natural disasters from which developing countries are less prepared to recover.

5. Technology leapfrogging 

Over the past decade there has been a rapid adoption of innovative technologies in emerging markets. In Africa, over 75% of the population now has a phone and almost a third of these are smartphones. Lack of legacy technologies and the drive to address complex problems has enabled nations to leapfrog forward. For example, off-grid solar power is bringing electricity to remote villages, sensors and AI can predict droughts, mobile payments can enable business without cash, and remote viewing can enable expert doctors to save lives from thousands of miles away.

Related articles

——

[ Photo by Muhammadtaha Ibrahim Ma'aji on Unsplash ]