With a population of more than 1.2 billion people, 54 countries, and foreign direct investment (FDI) totalling US$59 billion in 2016, Africa presents organisations across industry sectors with ample business opportunities.
Annalie Terblanche, Product Manager at SilverBridge Holdings, says that although the continent has long been viewed for its potential, the rate of technological innovation in recent times has seen it attract even more interest.
“Africa is well-known for its infrastructure challenges especially when it comes to fixed-line connectivity, reliable electricity, and access to drinking water,” said Terblanche.
“However, people across the continent have long embraced a culture of innovation to overcome these. An example of this is the growth of mobile telecommunications for more than two decades. Mobility has become synonymous with Africa as people and organisations are using it to address their accessibility needs.”
Even though fibre has become a key development priority in cities and urban areas, those in rural communities have come to rely on the likes of 3G and LTE to access services. And given the investment mobile operators are making across the continent to ensure reliable and high-speed access, even those living in highly populated areas are often opting for this as their preferred method of access.
Changing requirements
“It is in this age of innovation and mobile growth that entrepreneurs are starting their businesses,” added Terblanche.
“Many are receiving investment from several local and offshore sources. The way these start-ups are approaching business problems given the limitations of their physical environments, make them good value for international investors who are searching for people who can think out of the box.
“Yes, there are still significant obstacles to overcome in Africa, but the excitement of working in such an open environment where the possibilities are limitless is too good to resist. Businesses are looking towards this more agile approach and following suit with their own enhancements to better meet the needs of those in the continent.”
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