Telecoms is set to become Africa’s fastest growing industry

According to tech professionals in eight different countries in Africa, telecoms is set to become Africa’s fastest growing industry over the next five years.

This feedback is from a survey conducted by block chain-based MNO World Mobile with companies that have combined annual revenues of more than US$6,75 billion and are based in South Africa, Angola, Botswana, Cameroon, Ethiopia, Chana, Nigeria and Tanzania.

More than 75% of respondents surveyed stated that telecoms is set to display strong growth over the next three to five years.

Following behind telecoms expected growth is that of healthcare where 61% of respondents choose this as the second highest growth industry, followed by 44% of respondents who chose tourism as the third highest growth industry.

Critical to achieving this expected high growth is the improvement in internet connectivity and Micky Watkins, CEO or World Mobile stated “The expansion of telecoms across the African continent is central to driving economic growth and senior business executives clearly agree as they rank it well ahead of other major sectors of the economy”.

Growth in telecoms is pivotal to societies becoming more digital and technology focused.  This in turn has a knock-on growth effect on many other industries such as financial services, healthcare, retail and education.