By Michael Kachitsa
Africa’s technology industry is rapidly growing. There has been a massive growth in technology hubs across the continent, growing over 50% in the last several years.
This growth of technology business in Africa is propped up by the growth of computer engineering talent being trained there. Microsoft alone is spending over $100 million dollars on a development center to employ 500 employees in the next five years.
This trend of technological skills growth in Africa is poised to accelerate, and as more talent becomes available, more companies will be looking to invest.
Africa, as a whole, is still relatively new to established technology infrastructure. Mainly, due to the multitude of dictatorships in various African countries like Sudan, Zimbabwe, Chad, and others, internet shutdowns are common. This makes predicting investment return for companies quite hard.
The continent is also another half a decade away from having a 4G connection, meaning that wireless data speeds will remain much slower for the time being. However, companies aren’t sitting idly by. Google and Facebook are trying to boost connectivity in the various countries on the continent by surrounding it with high-speed fiber-optic cables.
Currently, there are 643 tech hubs across the continent, with the largest groupings being in Nigeria, Egypt, Kenya, and South Africa. There’s still a lot more room to grow.
41% of the “tech hubs” are incubator facilities, 24% are innovation hubs, and 14% are accelerators, according to Forbes