At the just concluded US-Africa summit, which was hosted by President Barrack Obama it was believed that Africa is still a key Information and Communication Technology investment destination with 50 African leaders securing substantive investments in the field of ICT.
The Regional Director for sub-Saharan Africa at the International Data Corporation, Mark Walker, believes many of the initiatives and opportunities presented at the summit are powerfully dependent on the rollout of innovative technologies across the continent according to source.
Since these technologies represent the foundation for innovation, the key to success will be successfully developing relevant answers to Africa’s requirements in the government, energy, finance, and commercial sectors, while concurrently ensuring profits to both local and American partners.
Six of the 10 fast-growing world economies are African according to IDC and also the average income on the continent has increased by 30 per cent over the last decade.
In spite of the huge size of the market, the International Data Corporation expects overall IT costs in Africa to inflate at a very healthy compound annual growth rate of 6.3 per cent over the next five years to a total of $33.4 billion in 2018, a 36 per cent increase from today’s figure.