TechInAfrica – It serves as no secret that African countries have been exponentially experiencing rapid growth in terms of digitization. If you need more than a simple statement to be convinced, head over towards our Meet the Founders segment—where we get up close and personal with various CEOs and founders of numerous startups across Africa; and believe me when I say the tech scene of the continent has been growing at an unprecedented rate.
With 122 million active users of mobile financial services—more than half the global total, and that number is increasing as you read this—Africa serves as a framework for investors and foreign developers despite this trend has been hidden from many. The development of technology is to be implemented in solutions that address demands (that are also growing rapidly) supporting both the micro and macroeconomy.
For example, Jumia, an e-commerce platform connecting sellers and potential buyers, already has over 4 million (and counting) customers across fourteen African countries. The company was also renowned as Africa’s first technology unicorn, boasting over $1 billion value in regards to the company’s listing on the NYSE back in April.
Considering there’s always room to grow and innovate in various sectors of technology, universities like the African Leadership University encourages students to empower and eventually manage themselves using technology. This, in return, would lower operational costs for the university—and retribution as well as tuition to be paid by the students.
Despite this, lack of technical talent and expertise in the fields of technology would potentially be of hindrance towards Africa’s movement in becoming the next tech hub. Approaches like incubation and acceleration programs serve as a refreshing solution in addressing the issue; with other methodological procedures involving the government such as better internet access, better infrastructure, and better education systems.