It’s no secret that Africa is home to some of the fastest growing economies in the world – bolstered by businesses and start ups with innovative solutions to specific digital challenges and creative offerings that propel each nation’s workforce and its consumers into deeper digital integration. With increased foreign investment and confidence in Africa’s Digital infrastructure capability (think Google’s new advanced AI research Centre in Ghana & Microsoft’s announcement of new offices for the African Development Centre in Kenya & Nigeria) supported by Investment Schemes & Specialized Economic Zones – It is becoming clearer that the potential for digital growth in Africa cannot be ignored any longer. Foreign Direct Investment rebounded strongly in 2021 despite the global effects of the Covid Pandemic with a record $83 million creating further opportunity for countries like Rwanda, Ghana & Kenya – all fast-becoming digital hubs in the region – to reach new heights of digital capability and offering.
Though the USA represents the highest number of investors in the top 20 largest disclosed deals in Africa, local and government initiatives and investments are also having a heavy impact to ensure Africa’s future as having superior digital capability:
Investment and incentives keep connectivity and access affordable and universal which is vital to the drive for continued growth and potential. Currently Africa’s internet connectivity and fibre optic cabling are below the global average of 62.5% which major investment contributors are aiming to remedy (including Google, Vodafone, Facebook, MTN & more). Nevertheless – 473 million Africans are already online with a further 300 million expected to join by 2025, indicating untapped potential. The World Bank for example estimates that just a 10 percent increase in mobile internet penetration could translate to a total of a 2.5 percent increase in GDP.
A young and rapidly growing population of Africans joining the workforce each year (an estimated 20 million) with demand for an increased digital economy and digital prowess indicates a huge opportunity for economic shift which will put Africa on the map for future businesses looking to establish low cost Data Centres, Operational Facilities with high speed connectivity (the 2Africa cable system & Equiano subsea cable project will double the continents total internet capacity), and make use of a diverse landscape of innovative and digitally enthused businesses & workforce.
CCI are constantly evolving and as the organization continues to make strides and expand its breadth of services we endeavor to always think ahead to better engage with our community. Find us on Linkedin and connect with our team to find out how we are propelling the industry forward and how we can create value together.
CCI Enterprises DMCC, Unit 3101 to 3108, HDS Tower, Jumeirah Lakes Towers, Dubai, UAE. Phone: (+971)- 4 - 835 7012
CCI Enterprises DMCC, Unit 3101 to 3108, HDS Tower, Jumeirah Lakes Towers, Dubai, UAE. Phone: (+971)- 4 - 835 7012