Africa’s Mobile Economy Set for a Boom in the Next Three Years
Mark Zuckerberg’s 2016 prediction that the “future of the world” would be built in Africa is gaining traction, particularly within the continent’s mobile economy. During his initial visit to the continent, specifically Nigeria and Kenya (the latter hailed as a mobile money leader), Zuckerberg’s foresight seems to be materializing as mobile technology continues its rapid growth trajectory. The impact of these services is undeniable, offering economic empowerment and technological advancement across the continent.
The Rise of Mobile Technology in Sub-Saharan Africa
In 2016, mobile technologies and related services generated an impressive $110 billion in economic value within Sub-Saharan Africa, accounting for 7.7% of the region’s Gross Domestic Product (GDP). The growth has been consistent. By 2021, this contribution had surged to almost $140 billion, according to the Mobile Economy Sub-Saharan Africa 2022 report published by GSMA, the global mobile operator association. A key driver of this expansion is the increasing adoption of mobile services across the continent. By the end of 2021, 515 million people had subscribed to these services, representing a substantial 46% of Africa’s population.
It should be noted that the original article only goes as far as 2021, therefore any information on future growth or specific projections for the next three years is not present.
Africa’s mobile economy is poised for continued growth, driven by increasing mobile subscriptions and the innovative applications of mobile technologies. The foundation for this future is being built today, making it a dynamic and rapidly evolving sector to watch.
Keywords
Related Keywords: Africa mobile economy, mobile growth Africa, African mobile market, mobile boom Africa, Africa digital economy, mobile technology Africa, African mobile trends, mobile phone adoption Africa, Africa mobile payments, fintech Africa
