Seven Things You Need to Know About Africa’s Ensuing Tech Explosion
As technology continually changes almost every part of our lives, Africa’s tech wave is blossoming. Fast-growing youth populations in tandem with strategic placement of tech innovation hubs aren’t just driving technological changes for Africa but also the world.
New opportunities are emerging for people to collaborate, innovate, and participate in Africa’s developing tech wave.
#1 Increased consumer and enterprise internet access.
Increased internet access and large telecommunications developments support over 650 million mobile users generating economic growth and social transformation. As the continent grows digitally, millions are tapping into information and opportunities that were once beyond reach.
Though widespread technology access across dispersed communities is far from a resolved challenge, African governments have ambitious plans to continually expand high-speed Internet access, making it available in a way that mimics western standards.
#2 The continual rise of mobile money and opportunity for more digital finance solutions.
Much of Africa operates on cash-based economies, with fewer Africans foregoing traditional consumer banking services in favor of mobile money transfer solutions. The explosion of mobile payment technologies in the early 2000s has proven to be very successful, with industry leader MPESA’s technology becoming responsible for over $12.2 Billion in transactions in 2020.
Mobile money in Africa has long been a widely adopted and revolutionary tool with the potential to expand access to financial services, including credit, insurance, and cross-border remittances.
#3 Innovation leaders are giving Africa their stamp of approval.
Global players are “betting big on Africa,” one example of innovation is Google’s first “Africa Artificial Intelligence lab,” opened in Ghana in April 2019.
AI is more than a buzzword. It’s a global paradigm shift that will influence every facet of how humans transact business, connect with the world and each other.
New technological tools related to AI have enormous potential to be adapted to suit local African realities and needs.
#4 Outside investors are rushing in.
As Africa’s tech landscape keeps advancing, more entrepreneurs, investors, and grant-making organizations are becoming well aware that there’s much more action in Africa than safaris.
The continent’s young and ambitious workforce and the engineering talent in African universities make NGOs, venture capitalists, investors, donors, and technology providers from the US, UK, and Asia explore Africa.
Amongst those who are most interested are tech giants Google, Facebook, and Microsoft, who regularly invest in initiatives to cultivate and capture young development talent in Africa.
# 5 Africa has the youngest population on the planet.
Africa has the youngest population globally, with an average age of 19.5, and 60% of the continent’s youth under the age of 25; there is an immense opportunity to train and develop tech assimilated youth to further the continent’s tech development goals.
#6 African youth are exploring careers in technology and software development.
New digital tools and the unavoidable dominance of tech in our everyday lives are changing education in Africa.
Modern tablets and mobile phones offer a much-needed solution to resolve the continent’s lack of books and educational resources in remote areas. Governments, Universities, and non-profits organizations have set their eyes on supporting technology-based education by offering software engineering, computer science, and other tech-related programs.
7# Mobile money has set the foundation for a robust digital economy.
While there is still a long way to bridge the digital divide, Africa is at the helm of a wholly connected and independent tech economy.
Once more cross-continental enterprises can deliver services and products to patrons located in different regions, the use of mobile money will prove crucial to a market that has ditched credit cards in favor of paying and sending money using their phone.
