Unknown to many investors and executives globally, Africa is digitizing rapidly. A while ago, many questioned the continent’s internet and mobile connectivity but that is not the case today. Africa has become the hub of digital technologies seeking to provide all kinds of solutions from agriculture to transport and, to top it all, financial services. In formal retail, Africa beats the US in the number of people per retail outlet, having 60,000 people compared to only 400 per outlet in the US. Other successful digital startups are e-commerce platform Jumia and Nigeria’s digital payments platform Interswitch, which allows for paperless payments even for groceries. The education sector is also using digital innovations to bridge the gap in enrollment to higher learning courses. An example is the African Leadership University which manages its campuses in various countries by use of technology. Read more at How We Made It In Africa
Dear D –
The future of growth in Africa lies in its ability to innovate its way out of its many challenges. When you invest in tech startups and innovations that solve hard-pressing problems in the continent’s sectors, you encourage the continent’s sustainable growth. Investments in Africa’s tech startups were at $1.2 billion last year, but the figure is still very low compared to Asia’s $10 billion in tech investments in the same year. Do you agree that Africa needs more tech investments now more than ever? Share.