Africa is the second most populous continent in the world. The digital revolution has been marked with advancements in technology, which has revamped our lives. The world is drastically shifting to a digital age where everything is computerized. However, Africa has not been able to measure up with other tech-savvy countries. But this has not limited the continent into still pushing to achieve digital revolution like the rest of the world. Today, you have more Africans trying their luck with Betway on https://www.betway.com.gh/Jackpots than before. Betway has become the most popular sports betting platform in Africa.
Kenya and South Africa are the big wigs into driving Africa into a digital age. According to Weetracker shows 2018 marked a significant year for startups in Africa. It is estimated that startups raised $725.6 million across 458 deals. This is an excellent sign to Africa that investors from all over the globe are confident in the hubs that are coming up. Jumia, which is an ecommerce website launched across various countries is the first startup that has been listed in the NYSE.
What are the reasons that are leading to the prominent rise of tech hubs in Africa?
Kenya’s Hub and CcHub in Nigeria are some of the most prominent hubs in Africa. There are so many other which have been attracting huge investments from various organizations and tech giants. For instance, the World Bank and France’s tech African fund are some of the few organizations that are investing in tech hubs in the continent.
On the other hand, two tech giants; Facebook and Google opened centers in Nigeria in 2018. The two also launched accelerator programs in the country. All these opportunities in the tech hub can be attributed due to the following reasons;
- Africa is ready and has always been prepared for investment. The continent has over one billion people, and it is estimated that by the year 2050, the population will grow to about 2.5 billion. This means that the continent will have a ready working class which will be able to advance the economies.
- The use of smartphones has opened opportunities for a lot of people. There are about 226 million people in Africa who use smartphones. Therefore most governments have made it a priority for their people to access an Internet connection. This has led to the growth of the Fintech industry, such as mobile banking. In 2018 a report by Weetracker shows that the Fintech industry accounted for 43% of the total funding in tech hubs. The sector was also the leading industry that received funding; other fields include Cleantech, Ecommerce, Edtech, Agritech, and Health Tech. The top tech leaders Kenya, Nigeria, and South Africa, have been at the forefront of developing the tech sector in Africa.
Although the tech hub in Africa is facing some problems, it is without a doubt that it will grow. However, with the right investments and infrastructure, the tech hub will increase tremendously.