New research for blockchain-based mobile network operator World Mobile shows that African business leaders are forecasting a surge in spending on tech start-ups as foreign direct investment and improved internet connectivity help establish the continent as a tech superpower.
Around three-quarters believe the investment will come from Western countries while 66% believe China will be a major source of investment. Executives are pointing to the development of Africa’s tech ecosystem – nearly 90% of those interviewed expect it to grow by at least half its current size in the next three years with 15% expecting it to double in size during that period.
“Africa is seen as ripe for economic expansion by its own business leaders and technology will play a vital role in delivering the development,” says Micky Watkins, CEO of World Mobile.