The 2014 Gartner Symposium, which is being held at CTICC in Cape Town, recently revealed the Top 10 Strategic Technology Trendsfor 2015. Adding to this, Vodacom’s managing executive of m-Commerce, Hemmanth Singh, has marked Africa as the fastest growing technology market.
In his presentation, Singh touched on a great deal of statistics as to why the continent is set to grow in the technology space as well as pointed out its potential. According to Singh, Africa has 6 of the world’s top 10 fastest growing countries over the last decade.
To add to this, Singh stated that Africa additionally has:
– A predicted growth rate of 5-6 percent for the next two years
– 1 billion inhabitants, which is set to double 2050 and will essentially overtake India and China
– The world’s youngest population – 50% of individuals are under the age of 24
– Foreign direct investment up 5 percent in 2012, as global FDI fell 18 percent
– Optimism – 84 percent of Africans expect to be better off by in the next 2 years
Singh also stated that by 2016 500 million Africans will live in urban centres. He also included that by 2025 Africa’s 50 largest cities will account for 40 percent of GDP (13 percent now). By 2030 Africa will account for more than 40 percent of the global population and by 2050 the total African GDP will grow from 2 Trillion USD to 29 Trillion USD.
Singh also revealed that, as the world’s fastest growing technology market:
– 720 million Africans have mobile devices
– 50 percent of Africans accessed the internet in the past 4 weeks
– 56 percent of urban consumers own internet enabled devices
– In Uganda there are more mobile phones than light bulbs
– mPesa is used by 15 million people in Kenya & moves the equivalent of 31 percent GDP annually
– More mobile money accounts exist than bank accounts in Kenya, Tanzania, and Uganda
– 43 percent more Google ad clicks come from Africa
Singh ended off his presentation with one short, yet impacting sentence: “The innovation platform in Africa is just massive.”
As of the second quarter of 2014, Facebook now has 100 million people coming to the platform every month across the African continent, representing half of the 200 million people connected to the Internet in Africa. More than 80% come to Facebook every month on mobile.
In addition to this being a significant milestone for Facebook, it also reflects the fact that people in high-growth countries want to be connected to the world around them and that mobile is providing unprecedented ways for that to happen.
With desktops living in the shadows of their much cooler friends, mobile phones, continental app developers are responding to the needs of Africans on the move.
When it comes to chatting, playing and sharing, more people are doing it with a phone in their hand, so it’s no wonder that mobile applications (apps) are becoming more and more popular on the continent.
big tech brands are now developing their own devices – like phones and speakers – for the African market
The mobile internet sector in Africa is developing rapidly, with smartphones becoming much more affordable and growing in popularity. Jumia has taken advantage of this with a mobile app that allows an increasing number of Africans to access the e-commerce platform wherever they are.
Young techies hunched over laptops in small offices across Africa want to create their own versions of California’s Silicon Valley and some are beginning to attract investors prepared to take a risk in the hope of high returns.
One such start-up, a South African social photography app called Over, last month beat 19 others from around the world to win funding from U-start, an advisor that matches mainly European investors with fledging businesses.
It is disclosed that Ethiopia has planned to launch medium research satellite within the next five years.The Entoto Observatory and Research Center (EORC) signed a Memorandum of Understanding on Sunday with Finland based Space Technology and Science Group (STSG) to this effect.