Africa is reshaping itself as a new economic powerhouse by harnessing the power of digital transformation. Credit: Shutterstock Africa is undergoing a remarkable transformation, rebuilding the foundations of its economy with new value-creating digital infrastructure. The World Bank has been coordinating a “ Digital Economy Initiative for Africa ” which aims to ensure that every individual, business, and government in Africa is digitally enabled by 2030. These efforts are clearly working. Africa’s digital economy and tech ecosystem is experiencing exponential growth. A report from non-profit Endeavor predicts that the market size of Africa’s digital economy could reach $712 billion by 2050 , fuelled by the nation’s young population, rising smartphone adoption, and increasing internet penetration. SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Africa’s digital economy, already valued at $115 billion, is still in a nascent phase, with only 33% of the population using the internet. However, Endeavor’s analysis shows rapid growth. Africa’s GDP is expanding at a compound annual growth rate (CAGR) of 4% , comparing favourably to Europe and Latin America’s 1.7%. The population is simultaneously becoming much more prosperous, with consumer spending growing at 9.4% […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
