Study: Africa’s fastest growing telecommunications business sector

The telecommunications sector will be the fastest growing industry in Africa over the next five years as internet connectivity improves, according to research by blockchain-based mobile network operator World Mobile.

When asked to choose the three industries they believe will see the most growth over the next five years, three out of four (75%) senior executives selected telecommunications for the study.

It was comfortably ahead of the healthcare sector which emerged as the second choice selected by 61% of survey respondents as one of the three industries that will experience the strongest growth ahead of tourism at 44%.

Senior executives from companies with combined annual revenues of over $6.75 billion based in Tanzania, Angola, Botswana, Cameroon, Ethiopia, Ghana, Nigeria and South Africa were interviewed for the study.

Improving internet connectivity has been identified as essential for the growth of the economy and across all sectors. About two-thirds (66%) say it’s important, while 20% think it’s very important.

World Mobile says it is helping to revolutionize internet connectivity in sub-Saharan Africa and is already working with the government of Zanzibar where it is launching a unique hybrid mobile network offering connectivity supported by low-altitude platform balloons.

Its blockchain-based network significantly reduces capital expenditure and costs compared to traditional telecom operators. World Mobile is in talks to expand into Tanzania and Kenya, as well as other territories underserved by traditional mobile operators.

Micky Watkins, CEO of World Mobile, said: “The expansion of telecommunications on the African continent is key to driving economic growth and business leaders clearly agree as they put it well ahead of other major sectors in the the economy. To a large extent, growth in telecommunications drives growth in other sectors as societies become more digital and technology-driven, which applies especially to financial services, healthcare, commerce retail and education. However, not all parts of Africa have strong internet connectivity and we want to help by providing an affordable and reliable service and look forward to working with governments across the continent.

World Mobile’s balloons will be the first to be officially launched in Africa for commercial use, offering a more cost-effective way to connect people digitally and is the first step in its mission to help put nearly four billion people online before 2030 in line with UN and World Bank SDGs.

Comments are closed.