Africa is gaining a predominant role in the growth of mobile phone technology these days, despite the fact that only 10% of the population has access to the Internet. Researchers firmly believe in the huge potential of African countries in this rapid evolution and claim that mobile technology has changed the way African people live. The increase of investments in this sector would only contribute to the economic growth in the whole country.
In Africa, Nigeria is the largest mobile market and in 2013, more than 78% of the population owned a smartphone. In fact, the market has grown so much that new brand mobiles became much more affordable and cheaper in Nigeria than in the Western world or other countries: African people commonly use local online classified sites like this one because they can find a used mobile phone at a very reasonable price. Considering the obvious strenghts of African mobile market, the World Bank stated that the reduction of the costs of services would lead to the increase of the amount of money spent, giving a boost to the economic growth.
That is why investing money in the start-ups working in the mobile phone technology sector not only is very important for the future of the African continent, but it is also fundamental to the development and evolution of mobile information technology itself. Tech hubs, which are being established all over the world as well as in Africa, provide entrepreneurs with the infrastructure and a network of experts, developers and programmers to give life to their ideas and give them the chance to build new businesses and create applications or software that can improve the life of everyone. Finding investors willing to fund new companies in their early stages has never been easy, but thanks to the higher GDP growth rates in Africa – in comparison to the US and Europe –there are more investors willing to fund these companies. This is a great opportunity for Africa to show the world its great potential in the development and evolution of mobile technology.