Mobile technology is on the rise everywhere around the world, but in Africa, it’s an entirely different ball game. It’s fair to say that the growth of mobile tech, for many reasons in Africa, is growing at breakneck speed, and there’s no sign of this trend slowing down or burning out anytime soon.
One of the first areas where mobile technology has been a game changer in Africa is the banking system. Many people living in the continent don’t have access to traditional banks, but what they do have access to, is a smartphone with an internet connection. This immediately makes banking not only possible but convenient and a doddle to handle. And there are stats to back this up.
Since 2020, there has been a nearly 40% increase in the value of mobile banking transactions in Africa, with numbers rising from $495 billion to a whopping $701 billion. The volume of transactions taking place since 2020 has increased, too, going from 27.5 billion to 36.7 billion, which represents a climb of 23%. Right now, it’s suggested that in terms of mobile money, Africa is the fastest-growing region in the market by far.
But mobile technology and its growth in Africa isn’t just because of banking; there are other reasons, too, with one of them being gaming. Africa, as a nation, is full of people who love to game online and, more specifically, gamble. And the great news is that the area adopting mobile technology has attracted the interest of operators, who are now providing some of the best mobile casinos for Africans to play at.
Again, this is a significant positive not only for the country but for mobile technology and its growth too. Any money that is accrued through gaming or any activities that take place in the online world that goes to the governments can be reinvested to not only improve infrastructures within countries in Africa but also help mobile technology improve, too, due to the obvious benefits it provides.
An example of this is the adoption of 5G. You could, in many ways, describe it as the final piece in the puzzle in terms of mobile technology climbing to the next level in Africa. At the time of writing, the rollout and adoption have been low compared to other areas of the world. As you will expect, South Africa leads the way, and the hope is that by 2025 there will be around thirty million 5G connections in sub-Saharan Africa.
Mobile technology is undoubtedly the future across most regions in Africa. Yes, the continent may be behind others in terms of where it is right now, but the numbers detailing the growth in critical areas such as mobile banking suggest that, in time, Africa could well be one of the most prominent regions for mobile tech, which should be music to the ears of those living in African countries.