Africa - the continent where milk and digital dreams flow
Where do the next big digital companies emerge from? Spontaneous answers are probably Silicon Valley or China. But the latest technological company listed on the New York stock market came from Africa. The continent is currently undergoing a huge digital transformation, but most investors and companies are not yet aware of this.
The number of smartphone connections is expected to grow from 315 million in 2015 to 636 million in 2022, twice as much as predicted in North America. Also, the purchase volume has been increasing over-proportionately, if one compares it e.g. with India, which has a comparable number of inhabitants. Investments in African start-ups have risen to around $1.2 billion.
While the African market offers a lot of potential, there are of course also difficulties, such as a low rate of university graduates and higher costs for the internet. Nevertheless, the African market offers many opportunities for investors. Instead of struggling to conquer the last market segment in Germany, companies should consider expanding to Africa.
Are you currently thinking about conquering the African market and therefore developing a digital strategy or digital business model? Then we are happy to support you - including make-or-buy decisions.