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Major study with senior African business leaders reveals importance of telecoms, technology and innovation in fueling economic growth in Africa

 

  • Senior business leaders from South Africa, Nigeria, Ghana, Ethiopia, Cameroon, Botswana, Angola and Tanzania whose companies have a combined annual revenue of over $6.75 billion were interviewed
  • Two out of three African business leaders worry infrastructure problems are holding back traditional telecom companies
  • But one in four expect dramatic improvements thanks to increasing innovation

Greater innovation from telecoms and technology companies is vital to drive the expansion of internet connectivity in Africa,  new research for blockchain-based mobile network operator World Mobile shows (please see the attached press release).

Its study with African business leaders found nearly two out of three (65%) worry that a lack of infrastructure is stopping traditional telecom companies from delivering the internet connectivity the continent needs. But they are optimistic that innovation from new entrants will achieve dramatic improvements. Nearly three-quarters (71%) say new approaches are expanding internet connectivity to hard-to-reach areas more affordably.

The study with African business leaders from companies with combined annual revenues of more than $6.75 billion found that executives believe the expansion of the African middle class coupled with Government support is driving demand for innovation.  Two-thirds (66%) believe connectivity will improve over the next five years with a quarter (24%) expecting dramatic improvements, the research among senior executives at companies based in Tanzania, Angola, Botswana, Cameroon, Ethiopia, Ghana, Nigeria, and South Africa shows.

African business leaders believe the biggest benefits of expanding connectivity will be growing internal trade on the continent which was highlighted by 78%. Around 75% pointed to growth in international trade, while 55% however say better education and healthcare.

Micky Watkins, CEO of World Mobile said: “There is growing confidence that Africa is on the verge of a revolution in internet connectivity with innovators such as World Mobile responding to the huge growth opportunities across the continent and Government support. However, the research with business leaders detects some scepticism with more than a quarter of senior executives saying they expect no change in connectivity over the next five years and pointing to potential roadblocks such as bureaucracy and a lack of innovation.

“Improving internet connectivity is vital to delivering the potential of Africa, which is not just good for global economic growth but also for improving living standards across the continent and we are focused on playing our part in supporting innovation.”

World Mobile is helping to revolutionise internet connectivity in sub-Saharan Africa and is already working with the government in Zanzibar where it is launching a unique hybrid mobile network delivering connectivity supported by low altitude platform balloons.

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