Africa’s Digital Economy and Matters Arising 

October 6, 2018//-As a continent of entrepreneurs, Africa is going through its own digital revolution, stimulating economic and social development as IT ecosystems emerge from country to country.

Just in the last five years, Africa has seen its digital innovation hubs grow from a handful to hundreds.

While it was the penetration of mobile that was the key driver in the early 2000 leading to such innovations as mpesa, the continent has since exploded into app driven solutions such that a new generation of entrepreneurs are emerging from this digital economy

  1. Payment platforms – Quickteller, Etranzact in Nigeria
  2. eCommerce Platforms – Jumia, Konga in Nigeria, Kenya and Ghana
  3. Entertainment platforms – Cloud Nine Music streaming in Nigeria, Kwese pan Africa
  4. Transport Solution – sendr in South Africa

Africa’s technology adaptation leapfrog has seen trends such as the use of instagram for commerce by having the story feature display what is to be sold and transaction discussions are held in the direct messaging feature

THE OPPORTUNITY

MILLENNIALS IN AFRICA FIND ENTREPRENEURSHIP AN INCREASINGLY ATTRACTIVE CAREER CHOICE.

HIGH UNEMPLOYMENT MAKES FOUNDING A BUSINESS A GOOD OPTION—IN FACT, ALMOST A NECESSARY ONE—FOR AMBITIOUS YOUNG PEOPLE IN THESE REGIONS.

Young business leaders are keen to harness the mobile-first trend. The number of unique mobile subscribers in sub-Saharan Africa is now 420m, according to the GSMA, a mobile operators’ trade body. By 2020, there will be almost half a billion smartphones in sub-Saharan Africa.

Top sectors of interests for the next generation of entrepreneurs:

The shift in the economic landscape in Africa is coinciding with the emergence of the next generation of business leaders in those regions. The growth of the middle class is driving demand for consumer-focused products and services in a diverse set of sectors including retail, food, finance, education, healthcare and energy. This provides

a host of new opportunities for regional investors, which have traditionally associated Africa with opportunities in commodities and infrastructure.

Young people are looking for powerful narratives. At Grey Africa, we are in tune with this trend and we are poised to take advantage.

From Grey Africa 

Leave a Reply

*