Trending
- Vantage Capital seals exit from PickAlbatros Hotels after $18.4M pandemic boost
- Madica backs Earthbond in bold pre-seed bet on sustainable solutions
- Venture capital and debt drive growth in Kenya’s agri-tech sector
- Sustainability Week Africa: Pioneering change amidst climate challenges
- Refugee Crisis in Chad as War and Hunger in Sudan Drive Thousands Across Border
- Senegal 2050: A Blueprint for Economic Transformation
- Kenya’s banking sector corporate taxes hit $563.7 million despite industry profit drop
- South Sudan Crisis: How a Broken Pipeline Has Plunged Juba into Chaos
Browsing: diplo
- Market size of Africa’s digital economy could reach $712 billion by 2050.
- In 2022 only 36 percent of the African population had access to broadband internet.
- Mobile Network Operators (MNOs) are streamlining adoption of 5G services.
Africa is on the verge of an economic revolution. From the north to the southern part of the Saharan desert, nations are striving to eliminate poverty and gain a strong foothold in global markets.
In the same vein, the continent is banking on the potential held by the digital economy. Reports ping the sector to higher standards, including a report from non-profit Endeavor predicting that the market size of Africa’s digital economy could reach $712 billion by 2050.
The growth is propelled by the massive engagement of the continent’s younger population, rising smartphone adoption and increasing internet penetration.
Read also: World Bank backs Smart Africa’s Digital Academy with $20M grant