How Tech Is Driving The African Economy To Greater Heights

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The adoption of technology and the internet into Africa has changed the way Africans interact and do business. In rich countries this was mostly through e-commerce whereas in Africa it’s mainly mobile phones and other cheap technology. These two segments have made the African economy the fastest growing in the world and most Africans are getting on board with this change.

The great thing about Africa is how it’s going through a tech boom. Today, Africa is leading the world in mobile power, with more than two-thirds of Africans owning a mobile device. And this is only just the start, with Google’s Project Loon promising to bring high speed internet to the whole continent, and Facebook setting up its first African ‘Connectivity Lab’ HQ in Nairobi Kenya.

Google and Visa have also set up their development centres in Kenya already These things will no doubt give Google an edge in the highly competitive search engine market but it also means there’s more choice for consumers to find what they’re looking for.

The Rising and Influence of tech hubs in Africa

Tech hubs are an exciting new trend in Africa. These co-working spaces are designed to help people who want to start a business or grow an existing one, but don’t know where to begin. The hubs provide resources like meeting rooms and equipment rentals, as well as mentorship programs and networking opportunities.

The hubs are especially useful for people who live in rural areas, where access to broadband internet is limited. In addition, they can help startups gain more traction by allowing them to network with more experienced entrepreneurs who have already been through the process of starting a company.

There are several major tech hubs in Africa: The Hive (Kenya), iHub (Nairobi), and Yaba Tech Village (Yaba) among others.

In 2018 alone, there were over 1,500 startups launched in Nigeria alone. This means that there are more opportunities for entrepreneurs to create their own companies and launch their own products or services. As a result, this has contributed towards transforming the economy into one that is more innovative and entrepreneurial-minded.

The growth of these tech hubs has also led to an increase in job creation as well as economic growth within each country’s economy. In fact, according to studies done by The World Bank Group, it was found that technology contributes up to 30% of GDP growth per year in emerging economies such as Kenya or South Africa where there are many tech companies located within these countries.

How Mobile Phones Are Changing Africa

Mobile phones are changing the way we live, the way we work and the way we play. In Africa, they are even changing the way we think.

African governments have recognized how important mobile phones are to their citizens’ ability to communicate with each other, as well as access information and services. The result has been an explosion of innovation and investment in mobile networks across Africa’s 54 countries.

Today there are over 1 billion mobile phone users across Africa—that’s almost half the population! Mobile phones are now used for everything from managing finances to accessing education resources to connecting with loved ones.

In Kenya, M-Pesa is a mobile phone-based money transfer service that was launched in 2007 and has become a major part of everyday life for many Kenyans. The service allows users to send and receive money using their mobile phones as well as pay bills or buy goods at participating stores. For many people living in rural areas without access to banks and other financial institutions, M-Pesa has been an important innovation that has changed their lives for the better.

In Nigeria, another country with a large rural population, over 50 percent of those who use mobile phones have now adopted internet banking services thanks to companies like Ecobank Transact. These services allow Nigerians to access their bank accounts from anywhere at any time through their mobile devices instead of having to go into physical branches or wait for snail mail delivery times before getting access to their funds again (which can take up until 3 days after making an online transaction).

How Tech Is Breaking Down The Gender Gap In Rural Africa

The gender gap in Africa is gradually closing due to certain technological advancements such as smartphones, which are helping both men and women gain access to information and financial services. Women are now able to learn more about technology, which will enable them to take advantage of this digital boom. In fact, there are many start-ups that focus on women-led businesses and provide resources for them to start their own ventures on digital platforms such as Facebook or Instagram.

Increased Opportunities

This has given women an opportunity to earn money from their talents and skills through various channels like coding, web design and development etc., which would not have been possible without these technologies becoming accessible at an affordable price point for everyone across all genders regardless of location or socio-economic status.

How Tech is Changing Africa’s Agriculture

Africa’s agricultural industry is one of the most important sectors in the continent, accounting for about 50% of its GDP and employing about 80% of its workforce.

But despite its importance to the economy, it is also one of the least developed. This is because agricultural productivity in Africa has been hampered by a number of factors, including poor infrastructure and lack of access to technology.

However, there are signs that things are changing for the better. For example, we’ve seen an increase in smartphone usage across Africa over the past few years (from 4% in 2010 to 15% in 2018), which means farmers can now rely on technology such as mobile banking and GPS tracking systems to help them manage their farms more effectively.

We’re also seeing an increasing focus on research and development into new technologies like artificial intelligence (AI) and blockchain that could make farming even more efficient in Africa than it already is today!

Technology is making it easier for people to get more out of the land they have, and make their farms more profitable.

When farmers have access to information about their crops, they can make better decisions about what to plant and when. This allows them to maximize yield while minimizing waste.

New technologies in agriculture are also making it possible for small-scale farmers to do things like track the condition of their soil and crops remotely, so they don’t need expensive equipment or visits from experts.

 

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