The confluence of technology, telecoms and new media appears to be the single biggest driver of innovations flourishing across the continent as illustrated by emerging technology hubs in Johannesburg, Nairobi, Lagos and Accra, representing all regions of the continent.
Some of the best success stories are represented by MTN Group of South Africa, which chose to invest in Nigeria at a time major players in the mobile-phone industry across the world couldn’t afford to stomach the political risk involved. Persuaded by Nigeria’s growth potentials as Africa’s most populous country, MTN took the risk, which paid off as it went on to become the biggest wireless carrier in the continent on the back of its Nigeria numbers, eclipsing the likes of Vodacom (Vodafone’s South African unit) that was formerly the leader.
In East Africa, the mobile-payments revolution pioneered by Kenya’s leading wireless carrier Safaricom, has become a template for global deployment. By solving a problem, in a part of the world where people lacked easy access to financial services, they also broke new ground and opened up new possibilities.
Across the continent, innovations in the payments revolution, built on the back of new information technology, are seeing the emergence of an increasing number of startups attracting investments from global venture capitalists.
It’s a trend that is both exciting and confusing, especially for those who aren’t experienced in the peculiarities of the African business terrain. Afrika Insights is here to intensify that excitement by clearing the confusion, where they exist, and providing you the information needed to arrive at a good investment and business decision.
We undertake due-diligence research, prepare reports on risks to a business posed by the political exposure of personalities involved in specific transactions. We also assess the likely short- and long-term impact of political risks on the business environment.