Africa is becoming one of the leading continents to attract major investors in the tech field. Over the past few months Africa has become a hotspot for investors.
Africa’s recent economic growth and its size in both land area and population have led investors to see extreme potential in the continent. The booming technology industry in Africa has brought technology resources to areas that had lacked them before.
Due to this booming success, its being noted that Africa’s most rapid growing sector thus far has been Technology. Market research company, Frost & Sullivan claim that e-commerce in Africa has the potential to become a $50 billion (Estimated 550 Billion Rand) industry by 2018. The e-commerce and mobile industries have both been making astounding success recently.
Technology giants, like IBM and Samsung, have also been making moves to establish themselves in Africa now that the continent’s abundance of opportunity has been made apparent. IBM has invested $60 million (Estimated R66 Million) into a South African technology facility for start-up development and research.
Now, Samsung will launch a Digital Village in Nigeria that will offer “a complete educational infrastructure, comprehensive healthcare solution and power generation capabilities that will spur the growth of small businesses and harness the energy of the sun to minimize running costs, among others.
These efforts will be highly beneficial for local community members and small businesses, and these benefits are not isolated. As Africa’s technology industry has been expanding, communities across the continent that had previously been disconnected from the world of technology have been given the resources to connect.
In Lagos, the state government recently promised to make Wi-Fi available to residents, starting with services around parks.
Mobile network Tigo just launched its 4G LTE Technology in Tanzania, which will allow customers to connect to the internet at high speeds. The company plans to continue expanding 4G accessibility, claiming its commitment to the digital lifestyle transformation and its leadership in delivering cutting edge technology and innovation in this market. Africa is set to go through major developments if investors keep on investing in the continent.