Tag: africa

Digital currency could spark African financial revolution

Digital currency could spark African financial revolution

Technology
The conversation about digital currencies in Africa jumped several notches when M-Pesa, sub-Saharan Africa’s world-leading mobile payment platform, embraced bitcoin. The conversation has grown loud enough to spawn annual conferences such as Afrikoin, trade and advocacy organizations such as the African Digital Currency Association, blogs, consultancies, news services, and even films.  Currently there are many different cryptocurrencies, with Bitcoin being the most well-known. During the first half of 2017, Bitcoin’s average number of daily transactions totalled 288,953 – up 182% over the same period two years ago. Despite its growth, this number still pales in comparison to Visa’s 150 million daily transactions, but the evidence is there that cryptocurrency could soon prove a force
The biggest game changer in African development is the internet

The biggest game changer in African development is the internet

Uncategorized
Information and communication technology is driving the new “knowledge-based” economy in the developed and developing world. However, internet access remains comparatively low in Africa, with internet penetration at 20% for the continent. There’s free Facebook, mobile banking, and the promise of cashless societies and digitised land records. And from Accra in the west to Kigali in the east, a spray of “tech hubs” talk about “leapfrogging” technology and incubating start-ups. Such are the giddy promises of Africa’s “fourth industrial revolution” – a giant step forward into the digital world which the Guardian is reporting on for the next two weeks. Some are salivating that it will amount to the renaissance of a marginalised continent, while others soberly warn of the hype. By 2
An ad-supported internet isn’t going to be sustainable in emerging markets

An ad-supported internet isn’t going to be sustainable in emerging markets

Internet
Since the Internet’s earliest days, advertising has been the linchpin of the digital economy, supporting businesses from online journalism to social networking. Indeed Facebook and Google earn almost all of their revenue through digital advertising. As the Internet reaches new users in emerging economies like Nigeria, Kenya and Rwanda, this model is following close behind. But is the digital advertising model that has evolved in developed economies sustainable in emerging economies? And if it’s not: What does it mean for the billions of users who are counting on the Internet to unlock new pathways to education, economic growth, and innovation? Increasingly, research and practice show the ad-supported internet of developed economies isn’t sustainable in regions like Sub-Saharan Africa, S
Does Lack of local content hinder Internet Adoption?

Does Lack of local content hinder Internet Adoption?

Internet
Sub-Saharan Africa has seen great improvements in connectivity infrastructure, with increasing investment in access infrastructure including mobile internet networks and fibre backbones. While this is a step in the right direction, the adoption of technologies such as 3G and 4G is lagging behind, raising the question of why it's taking so long for Africa to get online. Although agriculture and natural resources which have proved workable in Africa will continue to be important drivers of Africa’s economic growth in 2011, it is the application of modern technologies that will have the most significant impact on the growth trajectories of most African economies. Specifically, the greatest opportunity for growth is deemed come from technological innovation and the adoption of new technologi
Africa Mobile subscription set to hit the Half a Billion Mark by 2020

Africa Mobile subscription set to hit the Half a Billion Mark by 2020

Broadband, Internet, Mobile
Sub-Saharan Africa currently has 420 million unique mobile subscribers with a 43% penetration rate. By 2020, this number is expected to hit over half a billion, making Africa the fastest growing market. This is according to a new GSMA study dubbed ‘The Mobile Economy: Africa 2016’  that was published recently at the GSMA Mobile 360 – Africa event held in Dar es Salaam, Tanzania. The report also highlights the increasing contribution of Africa’s mobile industry to the regional economy, including employment and public funding, and mobile’s role a platform for digital and financial inclusion. “More than half a billion people across Africa are now subscribed to a network, providing them not just connectivity but a gateway to a range of other essential services in areas such as digital