African Investment
The Perpetual Energy Machine

Africans love their phones. As evidenced by the steady increase in smartphone penetration across the continent in the last 10 years, as well as the predictions that more than half the active phones in Africa will be smartphones within the next 5 years, it’s apparent that our continent is taking huge steps forward in terms of accessibility.

blog 25 July 2013

Meanwhile Google and Microsoft are grasping for the burgeoning markets of the dark continent, attempting to leapfrog technology ahead by a few generations. In other news US President Barack Obama is adamant that the US$7bil initiative to roll out safe power across Africa is an investment that will show great returns for both diplomacy and business. All of this combined means that, very soon, Africa could be leading mobile and internet banking trends…

Global studies have shown that mobile banking services are used the most by those under 25 and disproportionately by those in lower income brackets and members of minorities in first world countries. While this may seem counterintuitive or surprising it really shouldn’t be when those statistics are placed in context. Africa is a prime example of this new push toward accessibility as it remains the continent which lags behind in terms of reliable terrestrial infrastructure for internet access. Since mobile technology relies on a small terrestrial footprint and satellites it has become easier for those without access to become both banked and active users of mobile services. In fact, mobile access has assisted Africans in many unexpected ways.

Regardless of the intentions of corporations and first world governments the consistent improvements being made in the lives of ordinary Africans will have a major impact on our economic potential and growth as leading providers of technology services.

So here’s to a bright and connected future for us all.

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