Browsing: Africa’s digital transformation

Africa’s digital transformation has caught the eye of many investors, aspiring to profit from its rapid growth. Over the years, Africa’s fintech, e-commerce, and mobile industry have significantly grown, showcasing the continent’s untapped potential. Unfortunately, despite the valid efforts of several governments, Africa’s progress is currently experiencing difficulties.…

• Amazon is expanding its global reach and now eyes launching an e-commerce platform in South Africa by 2024.
• Africa’s e-commerce industry showcased an annual growth rate of 13.11% between 2023-2027, resulting in a projected market volume of $59.18 billion by 2027.
• Naspers-owned Takealot currently dominates the SA’s online retail market, with a gross merchandise value of $1.4 billion.

Africa’s e-commerce industry is among the fastest and most lucrative economic activity in the last decade. This billion-dollar franchise has showcased the continent’s potential amid this digital era, stringing in plenty of investors.

Vital figureheads in the tech world like Microsoft, Uber, Apple, and others have taken time to invest in and support Africa’s growing digital ecosystem. This wave soon reached Amazon, the world’s top e-commerce platform, as it set its sights on penetrating South Africa’s digital market. This new milestone will open more opportunities for Amazon and expand Africa’s e-commerce industry.…

• The AFDB is collaborating with Google to advance the continent’s tech usage in business.
• Both parties will harness emerging technologies, extend and improve infrastructure, train talent and skill required within Africa.
• In 2005, Google invested in Seacom Cable, a major telecommunications cable system in Africa.

The digital era, or the fourth industrial revolution, is upon us, and small businesses in Africa could be among the top beneficiaries. Organizations from across the globe are collaborating to provide the necessary financial support and infrastructure to aid in Africa’s tech journey.

Amid this plethora of investors, the African Development Bank (AfDB) has pioneered significant milestones with the continent’s tech journey. In its latest milestones, the AFDB bank has collaborated with Google to speed up Africa’s digital transformation.

The African Development Bank partners with Google

Recently, the AFDB bank officially collaborated with Google to advance the continent’s tech enterprise in businesses. Both parties signed …

Africa’s digital transformation is quickly progressing as multiple local startups have continued redefining technology. As more businesses transition to a more digital platform, the demand for better infrastructure grows.

As a result, many companies have undertaken more responsibilities like security, storage, and netter network configuration. TelCables Nigeria is among the few African-based startups focused on providing businesses with the necessary infrastructure.

In recent news, the organization has launched Cloud2Africa, a new feature guaranteed to propel the adoption of cloud computing in West Africa.…

A report by The Women in Tech Africa Summit 2019 showed that despite receiving 50 per cent less venture capital funding, global technology firms led by female entrepreneurs typically achieve a 35 per cent higher return on investment than those managed by men.

In the first half of 2021, African startups raised US$1.19 billion. However, female CEOs raised just 14 per cent of the financing, up from 2 per cent for the same period in 2020.

The African Development Bank puts the funding gap for women entrepreneurs in Africa at US$42 billion.

This should encourage more investors to take a gamble on women-led businesses in Africa’s tech space as they offer promising returns. 

Women in tech on the continent not only drive significant development in the African tech space, but they also simultaneously inspire young girls venturing into tech across the continent to do the same. …