Co-Working Spaces Continue To Sprout Across Africa

Co-Working Spaces Continue To Sprout Across Africa

From The Economist

Africa may be prone to chronic power shortages, weak infrastructure and economies still overly-dependent on commodities. But it is also being seen by technology firms as a new frontier for innovation: herds of new tech start-ups and small businesses are being birthed across the continent.

Almost as innovative as their plans for providing mobile money or clever new applications for hailing taxis are their methods of overcoming some of the continent’s main impediments to technology innovation: expensive internet access and the high costs of renting office space with reliable power.

Their solution has been to take a leaf from the books of entrepreneurs in places such as Silicon Valley and the Old Street roundabout by setting up “hubs” or co-working spaces. A recent World Bank report conservatively estimated there are over 90 hubs across Africa; in reality there are many more.

While co-working spaces are heralded in the rich world as trendy, open spaces conducive to networking and brainstorming, in Africa they serve a far more practical purpose: co-working spaces mitigate the exorbitant costs of setting up and running an office.

Read more at The Economist