Investment -Africa continent has become a fastest growing economy due to its rapid expansion in terms of startup and business vibrancy.
Due to its young and ambitious population, Africa has grown by lips and bounds and its GDP has also shot up.
It is reported today that internet penetration in Africa has hit 43 percent which is not so bad and not so good. However, a target of 60 percent is achievable if the consumption of internet levels remains steady.
In terms of startups, opportunities and growth, countries like Kenya, Nigeria, and Morocco are taking the lead.
Kenya which is one of the world’s best performing in terms of new businesses has been ranked 56th globally having recently collaborated with American tech giant IBM to come up with cutting-edge tech solutions that can empower agencies to solve a growing range of administrative and startup issues.
Today Kenya’s economic growth is at between 5%-6% while its GDP hit $106.40 billion through the year 2021.
Morocco on the other hand has also prospered considerably, with its own GDP increasing to an impressive $124 billion by the end of 2021.
In the last 10 years alone, this nation has gone from being 114th to 53rd on the rankings pertaining to the ease of doing business, highlighting much-improved accessibility for entrepreneurs and helping to create a viable pathway between Europe and the continent of Africa.
Further, Nigeria is leading the way in many sectors and continues to blaze an economic trail for others to follow in industrialization.
It not only boasts the largest GDP value of all African nations ($514.05 billion) but it’s also driven by its youthful and motivated population and one with higher than average Internet and mobile penetration rates.
The country has developed both online and on surface in terms of blue chip ventures with branches spread across the globe.
Nigeria has invested immensely in financial/ banking sector as well as sophisticated technology network.
