Skip to content

Africa’s Internet Economy is Forecast to Balloon 56%

Blockchain-based mobile network operator, World Mobile figures show Nigeria, Kenya, South Africa and Egypt will fuel the continent’s mobile commerce boom. According to World Mobile chief executive officer Micky Watkins, professional investors see the opportunities in the sector and expect the mobile phone to drive growth. “Affordability is central to the increasing adoption of mobile phones but none of it is achievable without connectivity,” he said at the launch of the report. Professional investors polled believe healthcare is the sector that will see the most benefit from increased connectivity. Around 53 percent highlighted the opportunities for healthcare, ahead of e-commerce (42 percent), and media and entertainment (40 percent). In the period under review, there will be significant growth of smartphone penetration in Africa and simultaneous growth in digital retail transactions. World Mobile’s report show there will be around 120 million new mobile subscribers by 2025 on the continent, taking the total to 615 million, up from 495 million in 2020.