Digital technologies are significantly impacting global economic growth, with six out of the top seven companies by market capitalization rooted in technology. This era, defined by the Fourth Industrial Revolution (4IR), presents Africa with an opportunity to diversify its economies, elevate income levels, and improve the quality of life for its people. At the heart of this potential are Africa’s youth, projected to reach 830 million by 2050, who are using technology to solve socio-economic challenges and innovate within traditional markets. In 2022 alone, 640 startups
across the continent secured $6.2 billion in funding, with a notable 31% directed towards fintech ventures.
Sub-Saharan Africa’s own journey from minimal mobile broadband access in 2004 (3%) to widespread coverage (85%) by 2022 illustrates the evolution of technology adoption. The region now has 515 million unique mobile subscribers, 51% of whom use smartphones to access the internet.