Trends that are changing the business landscape in Africa

by Darren
Trends changing business landscape Jnl 7 16

We take a look at some of the business trends that are changing the marketplace in Africa.

The various countries that make up the African continent continue to either play catch-up to their neighbours and overseas counterparts, or leap frog past everyone else. The economies that are the most successful are the ones that are quick to adopt new business trends that relate to technology. Here are some of the top trends that are transforming the business sectors across Africa.

According to a McKinsey & Company report, USD$75-billion will be generated from e-commerce sales in Africa by 2025. E-commerce opportunities across the continent still remain largely untapped so forward-thinking businesses will continue to drive their e-commerce strategies in growing African economies.

Cloud computing
According to the Cisco Global Cloud Index, cloud traffic will grow by 83% in the Middle East and Africa by 2019. Currently, enterprise cloud computing in Africa is largely driven by large enterprises and multi-national organisations that are moving into these regions. However, local governments and businesses are slowly gaining trust in cloud computing, making this an important trend in many business communities.

More connected than ever before
The International Data Corporation estimates that one billion devices will be connected to Africa by 2020. With faster, cheaper and more reliable internet becoming increasing prevalent in many African countries, this is giving businesses even more opportunities to take everything, from their products and services to their marketing messages, online.

Mobile money
Mobile banking drives many populations in Africa. Kenya and Nigeria are prime examples of how mobile money has disrupted the classical banking models in business. As a continent, Africa is a large user of mobile money services and smart businesses are making it increasingly easier to for their clients to do business with them via their smart phones. According to the GMSA, 19 African markets have more mobile money accounts than bank accounts, making mobile payment options a must-have for businesses in many regions.

Thanks and acknowledgement are given to www.liquidtelecom.com for the information contained in this article.

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