The COVID-19 pandemic has triggered an unprecedented demand for technology solutions and a surge in the consumption of digital content. Social media for instance has been a major source of information and entertainment during this period.
This demand for technology has also cut across all sectors while high value Investments both local and foreign is expected to meet this demand. We believe that the biggest beneficiary will be the financial services sector which will spur growth for every other sector.
In addition, technological evolution will drive the digital industry further by creating new sub-sectors and more job opportunities while the African continent will benefit from remote hiring of tech talent from various countries.
In 2019, the total unique mobile phone subscribers stood at 600 million individuals (50% of Africa’s population), according to GSMA. This is expected to grow in line with Africa’s young demographics.