3 ways investors can navigate Africa’s mobile markets
As investment opportunities go, Africa’s mobile market is about to have its day in the sun.Two-thirds of the sub-Saharan population own mobile devices, and 86 percent of Kenyan households use mobile financial products. The number of smartphones in the African market is expected to grow from 67 million in 2013 to 360 million by 2025, unleashing new possibilities in data and information access for consumers while easing reach to potential markets by entrepreneurs.
This uptick in mobile usage is redefining Africa’s socio-economic landscape. With applications and platforms including money transfer, search engines, news aggregators and more, this technology is not only empowering people socially, but it’s also providing much-needed data collection in an extremely fragmented geography.
For investors, this means greater visibility to the target market through an online presence, especially on social media.
But impressive growth and increased investments brought new sets of problems that both the government and the private sector need to address if they want to achieve sustainable development.