Africa Could Attract More Investments In ICT Next Year

Africa Could Attract More Investments In ICT Next Year

From CFOWorld

Investments in ICT are expect to increase in 20144 in Africa as both public and private spending rises and local content businesses partner with larger operators and tech companies, according to IDC.

Adoption of data analytics and cloud services is expected to be a main driver of growth on the continent, IDC said in a year-end report.

“In the year ahead, business models based on mobility, internet and cloud will grow quickly but local constraints will cause this to be in fits and starts and regional pockets; the most important events in 2014 will continue to cluster around growth and innovation, built on mobile devices, cloud services, social technologies and Big Data analytics,” IDC said.

Africa has had massive growth in mobile phone usage and IDC expects mobile technologies to catalyze investment, with mobile enterprise applications a leading priority.

Governments will also invest in fiber-optic cables, public services, content and governance and compliance oversight to ensure the security of transactions online.

Countries such as Kenya, Ghana, Rwanda, Tanzania, South Africa and Nigeria, in cooperation with international developmental agencies, academia and ICT vendors, have made considerable investments in ICT infrastructure and IDC expects this to benefit local startups that have had problems sustaining and running successful businesses.

One mega project is the $14 billion Konza City initiative in Kenya, expected to drive local and international ICT business in East Africa. There are other smaller projects in other countries including Rwanda, Botswana, Cameroon, Nigeria, and Ivory Coast, that IDC expects to gain traction in 2014.

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Written by Rebecca Wanjiku | Read more at CFOWorld