Having travelled extensively across the African continent, I have seen first-hand what an exciting and vibrant marketplace it is.
We live on a continent where fast-paced business happens, people work hard and make decisions quickly, and get things done. This is contrary to how we are often perceived, even from South Africa.
There is common ground, though, and that is our collective African desire to get ahead and show the rest of the world that we have what it takes to lead.
For too long, Africa has been linked to backwardness, starving millions and refugees, and has been labelled the basket case of the world, whereas, in reality, it is thriving.
Every civilisation peaks, regresses and peaks again. The West is currently declining, while Africa is on the rise.
Our current strides forward and our future will be built on our resilience and ability to reinvent ourselves. Technology has already played a huge role in this resurgence, but it is set to accelerate this genesis through what is called the Fourth Industrial Revolution. We, as Africans, are ready for this.
Sagarmatha is also prepared. It has seen the value of the relationships it can build on its platforms that will enable these to become communities. This is our currency. These digital neighbourhoods that will be built through our MSP approach will be varied and will include:
- Consumers to commerce.
- Consumers to opportunity.
- Citizens to each other.
- African countries to African countries.
- African business owners to African business owners.
- African business owners to business support.
- Africa to global investors and global businesses.
- Global businesses to African opportunities and global partners.
Making this materialise is the consumer opportunity in Africa, which we see resting on five key pillars: the rise of the so-called middle class, exponential population growth, the dominance of youth, rapid urbanisation, and the rapid adoption of digital technologies.
Africa is projected to grow to a combined gross domestic product of $5trillion (R60trillion) by 2030, with more than 50percent of the world’s working population under 35. They will be tech-savvy and familiar with platforms.
With this in mind, how could anyone miss such an opportunity?
Grant Fredericks is the joint chief executive of Sagarmatha Technologies and the chief executive of African News Agency.
- BUSINESS REPORT