Africa's Opportunistic Future By: Joshua Knight

In 2016, business in Sub-Saharan Africa was predicted to grow to 3.5 trillion dollars. Household consumption has been expected to grow at an annual 4% leading to 2.1 trillion dollars by the year 2025. As you can see GDP as grown significantly in each of many Sub-Saharan African countries between 2016 and present day. In class we discussed that many entrepreneurs such as Bill Gates and even Mark Zuckerberg have taken interest in Africa's financial future, but not just for the opportunity to "save" it , but also for the opportunity to watch it flourish and swat all pessimistic predictions of its future. Zuckerberg himself sees future in Sub-Saharan Africa, but not just for itself, but for a foundation for the world.

Mobile money has become a big opportunity and focal point in Sub-Saharan Africa. Not only does mobile money make it easier for families to pay utility bills and send money to one another, it also contributes to the GDP of the continent. 70% of adults in countries like Kenya use mobile money, which will eventually turn the country into a mobile country as a whole as youth population continues to grow. This creates great potential for not only Sub-Saharan Africa's economic future, but also for its future within the mobile and banking world. Mobile money has grown dramatically in the last year alone in Sub-Saharan Africa and has continued to grow since the induction of 2017.

Report Abuse

If you feel that this video content violates the Adobe Terms of Use, you may report this content by filling out this quick form.

To report a Copyright Violation, please follow Section 17 in the Terms of Use.