Doing Business In Africa Part 2: Internet Is Here To Stay
In case you missed it, Africa is on the rise. This is a continuation in a series of posts on “Why You Should Be Doing Business In Africa.” Click here to read the first post in this series.
- Some more internet/population statistics: Nigeria is the largest nation in regards to population (125 million) in Africa. And guess what? 44% of Nigerians are regularly using the internet.
- The majority of African nations have nearly an astonishing 40% of their population of the ages 0-14. They will be growing up in the next decade or two. These young ones will be growing up with mobile access and with internet access.
- Southern African nation Zimbabwe boasts an 90% literacy rate. And they speak English in "Zim" as well. Talk about ease of connectivity - Skype calls, call centers, and more have a huge potential in this nation. (not to mention the natural resources available)
- Technology savvy Africans are honing their skills. Not just in Zimbabwe, but I’ve seen firsthand how their educational system (which his surprisingly well put together) is starting to churn out technology students who are ready to get their hands dirty developing anything and everything. You can build a development team in Zimbabwe quickly, efficiently and cost effectively. Incubator programs will be starting, I can tell you that.When we were looking to build a tech team on the ground in Zim, we told a few guys about the job and within a day, we had a waiting list for interviews. The brightest minds in Africa are hungry to go to work displaying their skills.
- As you can see in the image above, the fiber optic cables have been laid from Portugal all the way to South Africa (SEACOM). With the ushering in of affordable broadband internet (see Post 01), companies like Big Africa and others are beginning to capitalize on the "social" aspect of Africa and categorize and empower the business community on the ground. This is slowly but surely growing into a gold mine for small business start-ups, entrepreneurs, and venture capital. As a direct result of this newfound connectivity available, I believe that in the next 40 years, you will begin to see a huge boom of business growth stem from within the borders of Africa.
We’ve got more thoughts on Africa’s growth, but we're going to keep it coming in bite-sized chunks for now. So stay tuned for that.
Here's our question to you: What’s your take on all this? Is Africa something you have on your economic radar? Why or why not?
Posted on October 5, 2012
by Tim & Tommy filed under