Governments, the telecoms industry, investors, multilateral institutions, and development finance partners will need to invest over $100 billion over the next ten years in order to provide universal internet coverage across Africa by 2030, a new report by the Broadband for All Working Group reveals. Meanwhile, the African Development Bank estimates that the continent will need investment of between $130 billion and $170 billion every year to achieve widespread internet access. The pressing need for infrastructure development in Africa’s telecom industry is well understood. Fortunately, with the rapid recent development of telecom technology, masts can now be positioned virtually in any location. Several mobile companies are working on expanding network coverage in Africa, particularly in remote regions. Much of the recent investment in telecom infrastructure across the continent has come from China — in fact, direct investment from China has increased by 40% every year over the past ten years.
SOURCE: AFRICA.COM
More Stories
Harare’s New Scheme to Curb an Economic Collapse
Africa’s Airspace Faces Steep Competition
Not Enough Females Operating in the African Venture Capital Space
The Digital Economy as an Important Driver of Long-term Growth in Africa
French Winemaker Accused of Using CAR Militia as Security
Freetown Gets New Money
Ghana Gives In and Approaches the IMF
Kenya’s Tech Startup Ecosystem is Looking to Attract even more Overseas Interest with New Hub
G7 Looks to Finance Africa’s Infrastructure Ambitions
South African Businesses are Struggling to Cope as Another Wave of Power Cuts have Hit the Country
MTN Hacked Just as it Launches Mobile Payments in Nigeria
Tanzania, like Many other African Countries, Wants to Stop Depending on Fertiliser from Russia