Africa has been on the rise as a continent in many ways over the past 50 years. Not only have they seen a vast improvement in healthcare, education, and wealth, they have also embraced the world of technology as well. Perhaps maybe not in the same league as Silicon Valley just yet, but Africa is certainly on their way up in the world regarding their economic wealth.
The steep incline in Africa’s rise to a more thriving nation is apparent when you look at the figures that show the continent’s emerging markets represents 60 percent of the world’s total. Their current transition to a more technologically minded country is going slowly but surely. With Africa being the most technologically underserved population on the planet, they have their work cut out, but with the right investments in the right markets, there is significant potential for them to turn it all around.
Africa as a country should not be developing the same business techniques as those present in Silicon Valley as they are completely different markets and what works for one is not guaranteed to work for another. Locality is the key for African markets, and once you have that cornered, then move on. For Silicon Valley companies, many come in, develop their project, and leave, but this is not what business in Africa is all about.
Still very much in the early stages of the countries business development stage, less than 30 percent of payments are made from mobile devices in the West, so it just goes to show where they are in comparison to the likes of Silicon Valley. But, that has not deterred them, only made them more determined. With communities becoming more accessible, so are the businesses that are being developed.
With Africa becoming more and more advanced every day, they will eventually get back in the race with many other parts of the world. Historically, they have always had a lack of funding, but as that increases so will their presence around the world, and we could soon see them doing deals and getting investment from those within Silicon Valley (if they decide to shift to support emerging markets, that is).
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