Over the last few years, the African tech scene emerged and certainly on the right path to fulfilling its mission of merging the gap with developed economies of high technological company, with the aid of technology as a catalyst for the growth of Africa.
Africa at a time was in the dark with little in terms of technological innovations, and then came Jumia, the very first e-commerce venture in Africa. Jumia was thought to be the first and last of its kind in terms of e-commerce venture in Africa, but the rise of Jumia turned out to be a trailblazer, other e-commerce venture sprang up to Kick start the rise of an expansive digital innovation scene.
According to the recent study carried out, Africa appears to be one of the fastest growing technological markets in the world, when you take a lucid look at its tech hubs, startup formation, volumes, and year to year expansion in tech charts.
Africa may not be as developed as other continents, but its rapidly growing tech scene is an indication of the better things to come. The continent boasts of an enormous and developing tech scene, the constituents of which are meeting rapidly across the 54 countries in Africa and its population of 1.2 billion people.
When quantified by monetary values, it is quite evident that Africa’s tech ecosystem, judging by the yardstick of standard Silicon Valley or Shenzhen is minuscule. But scrutinizing its meteoric rise in technology and a rapidly increasing tech hub (over 400 currently) which ranges from mobile money to block chain tech, to software engineering, one can confidently say that those monetary value will definitely experience a significant increase which will ultimately lead to a further increase in its already blossoming tech scene.
A swift population growth, increased internet usage, and mass urbanization have transformed Africa to a focal point for investment and development. With the rapid growth of Africa’s tech scene, Silicon Valley now has lots of competition to monitor.
In the year 2017, Africa saw its largest global rise in internet users, 20 percent to be precise. A rise as such signifies an impending rise in startup formations, tech hubs, and its tech market in general.
One of the most prevalent activities among cellphone owners is mobile banking. According to Frost and Sullivan: “The fintech sector in Africa is poised for a significant and rapid growth that will challenge existing financial Service providers.” These competitions in diverse tech sectors in Africa also contribute to its blooming technological scene.
These rapidly technological scenes can be observed in several African countries, like Rwanda, a country who initiated the use of a national fibre optics system, a tech that is yet to be utilized in other countries that are supposedly more developed. Drones are also being utilized to transit important medical supplies, and Somaliland is at the moment utilizing Iris recognition in its presidential election, presenting the state with the most enhanced voting register worldwide.
The telecommunication sector in Africa is one sector that is on the rapid rise as well. Of course MTN still remains the head as far as telecommunication in Africa is concerned. But over the years, other telecom brands like Airtel, Globacom, Vodacom, etc., have emerged and more will still emerge. This trend is a clear indication of the huge transformation going in that sector, and generally, a sign of the blossoming tech scene in Africa.
Above all, to ensure the technological advancement and growth seen in some parts of Africa do not take a backward swipe or deterioration, targeted investment should be encouraged as these could be called the pioneering growth formula used by the giant tech countries like China among others.
The future holds the best for the blooming technological scene of Africa. At its current rate of rapid tech growth and advancement