The fast-changing digital economy presents enormous prospects for the emerging economies of Africa. In Africa, the digital economy has emerged as an unstoppable giant that is growing at an unprecedented pace. Supporting this assertion, innovation commentators have conveniently argued that in the twenty-first century, we can ground the conditions for economic growth less on the accumulation of things and more on the flow of information, less on geographic centrality and more on electronic connectivity, and less on expanding consumption of scarce resources and more on intelligent management.
The twentieth century saw the economic rise of Asia through the significant economic rise of the “Asian Tiger” countries (Kojima 2000; UNCTAD 1996). But the twenty-first century has been dubbed the African century (Wikipedia 2016). Tech Crunch, renowned technology media company, recently published an article entitled “The Future Is African” (Nash 2015), which aptly described how Africa is unleashing innovation by combining mobile and Web technology to lead the world in the twenty-first century – the KINGS countries are leading this wave.
Kenya has transformed itself from a leading tourist destination to an innovation hub resulting in an entrepreneurial tech revolution and earning the name “Silicon Savannah”.
On the 1st of March, South Africa based cryptocurrency exchange, VALR announced their $50M series B raise at a $240M valuation led by Pantera Capital.
On 12th January 2022, Warner Music Group (WMG) announced their majority acquisition of Africori – the first major acquisition of the year in the entertainment