Browsing: Africa’s digital economy.

• Botswana has become a thriving ecosystem for many telecom-based organizations with Africa’s highest mobile penetration rate.
• The vision and goals of the Gaborone Metro Ring align with Botswana Vision 2036.
• In March, Liquid Intelligence Technologies revealed the completion of a comprehensive business transformation.

Africa’s telecommunication industry is one of the fastest-growing markets within the economy. With high-standing figureheads such as Safaricom, MTN, and Airtel constantly bringing in innovation, these firms are rapidly progressing the continent’s digital transformation. Liquid Intelligence Technologies, a vital figurehead in the industry, has introduced the Gaborone Metro Ring in Botswana to interconnect local businesses. According to the reports, this new initiative will potentially set Bostwana, a cut above other African governments.

Liquid Intelligence Technologies in Botswana

Africa’s telecommunication industry is by far one of the most competitive markets within the continent. It contains various key figureheads each pioneering to lead Africa’s digital age. During the pandemic, …

Africa’s fintech industry is, by far, one of the fastest-growing industries in this new industrial revolution. In two decades, that franchise has grown into a trillion-dollar opportunity, attracting multiple investors from all over. Ghana will host The Africa Money and DeFi Summit on October 3rd and 4th. According to the organizations, this event will set a new pace for the industry as it prepares to welcome the web3 ecosystem into Africa’s market.…

• Tagger Media’s market will expand from $10.54 billion in 2022 to $94.24 billion by 2030.
• In 2022, South Africa became the first African nation to acknowledge crypto as a financial product.
• South Africa’s tech industry received US$993,684,600 in funding between January 2015 and May 2022.

Today, plenty of countries within the continent are in a race to attain Africa’s tech Hub titles. Names like Nigeria, Kenya, Rwanda, and Egypt have made headlines with their respective governments embracing new technology. Amid this race to glory, one contender has stood out since the beginning of the digital era, South Africa. As Africa’s most industrialized nation, South Africa has achieved numerous milestones within its digital transformation. In recent news, Tagger Media, the global leading influencer marketing platform, has set its sights on South Africa through an extensive partnership with Tribeez. 

If this collaboration runs its course, it could significantly propel the SA’s digital …

• Africa only accounts for one per cent of the global digital economy. The US, China, and Asia hold dominant positions at 68 per cent, 22 per cent, and 27 per cent respectively.
• Ralph Mupita, President and CEO of MTN cites untapped opportunities in Nigeria’s digital economy, tipping that its potential will double by 2050 to $145 billion.
• Businesses must adapt to Africa’s evolving digital economy and embrace key trends to seize the vast opportunities in the continent.

There is a substantial gap between the digital economy of developed and developing countries in Africa. At the moment, Africa makes up one per cent of the global digital economy, while the US, China, and Asia occupy the top three spots with 68 per cent, 22 per cent, and 27 per cent of the total. This demonstrates how crucial it is for Africa to close the digital divide and capitalize on its growth …

• With just $40, customers in Kenya will buy a locally assembled smartphone starting July, 2023.
• Kenya’s mobile network coverage stands at 89.1 percent and is a key enabler of the country’s digital economy.
• The government will lay around 52 percent of 100,000km fibre network while the private sector will handle the remaining 48 percent.

Kenya’s telecommunication industry is about to gain a significant boost as the government plans to roll out the first consignment of one million domestically manufactured smartphones. They will roll out the gadgets in two months even as plans on digital transformation and e-commerce gather pace.

Kenya has been at the forefront of East Africa’s digital economy for some time now. Numerous investment opportunities have come up within the East Africa’s biggest economy catching the eye of many investors. 

Transforming telecommunication industry

According to statistics, Kenya’s mobile network coverage stands at 89.1 percent, a wave that is …

Africa is a strong contender for developing technologies such as blockchain and cryptocurrency owing to the continent’s growing mobile tech adoption rates. Considering the turbulent global financial markets, expensive remittance costs, and restricted banking access, blockchain in Africa offers alternatives to tackle their day-to-day issues.…

• AfDB estimates that the size of global digital wealth will skyrocket from $217 billion in 2022 to over $1 trillion by 2031. 
• The Investments in Digital and Creative Enterprises programme launched in Abuja ushering in a new era for the continent.
• Nigeria accounts for almost 30% of Africa’s funded ventures, with at least 180 startups.

The African Development Bank (AfDB) has launched The Investment in Digital and Creative Enterprises (I-DICE) program in Abuja. This marks one of the latest initiatives to boost Africa’s digital transformation which the AfDB estimates will generate $712 billion by 2050 in Africa and $1 trillion in global value by 2030.

This program comes at a defining moment as Africa expands its exports of digital and creative services beyond the continent spurring the rise of new unicorn startups.

The I-DICE is an initiative that partners with the Federal Government of Nigeria. It aims to promote entrepreneurship …

• Blockchain is one of the pioneer technologies leading the 4th Industrial revolution alongside AI. It has proven its compatibility with Africa’s diverse economy.

• According to Statista, the total economic revenue drawn from E-commerce within Africa exceeded their initial estimate of $16.5 billion and at an all-time high of $37.77 billion. 

• Individually blockchain and E-commerce have revolutionized Africa’s digital world. Although combined, they ensure rapid efficiency and improvement in Africa’s digital economy.

Over the past decade, Africa has relatively gone through a slow but steady metamorphosis within its overall economy. The upcoming 4th Industrial Revolution has shifted young African entrepreneurs’ minds. Long gone are the days when Africa is only recognized for its agriculture as the continent steps into a headstrong digital age.

E-commerce has thrived within Africa’s borders, having organizations like Jumia, which achieved its unicorn status simply from its endeavours within Africa. E-commerce is a thriving economy slowly but …

• Vodafone Group developed a business tailor-made to deal with Africa’s rising digital economy
• Etisalat, Vodafone’s largest shareholder, is currently exploring options for investment in Vodacom Africa.
• A decision to divest assets in a specific market or sell a stake in Vodacom Africa to fund new projects is also on the table

Vodafone Group is mulling strategies of extracting more value from its 65% stake in Vodacom Africa. According to Bloomberg, the telco is working with several advisers to evaluate the various strategic options available including mergers and acquisitions. A decision to divest assets in a specific market or sell a stake in Vodacom Africa to fund new projects is also on the table With the recent decline in Vodacom Africa and its market value in Safaricom, the organization is considering other alternatives.

This new take is crucial given that Vodafone has acquired new interested investors. Liberty Global, Xavier Niel,…

• Mpesa has a 7 % penetration of the GSM base in Egypt and 40% in Ghana while having a dominant 90% in Kenya.
• Kenya’s 91 startups got the third-largest capital inflow in Africa.
• A report released by Disrupt Africa indicated that Kenya’s average investment size was $6.3 million.

Africa’s tech Industry received a significant reveal as Kenyan tech startups accumulated $574.8 million(Ksh 71.7 billion) in funding last year. This figure astonishes many within the industry since it truly puts into perspective the current direction of Africa’s digital economy. Nowadays, funding tech startups is one of the few ways governments and organizations plan to stay ahead of the 4th Industrial Revolution. 

It is crucial to understand that Kenya, along with Nigeria and South Africa are at the top of Africa’s tech industry. In Kenya, 308 promising tech startups have inspired various organizations and governments to invest in them Nairobi, is the …