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Africa’s Internet economy is transforming development on the continent by fostering economic opportunities, creating jobs, and providing innovative solutions to complex challenges, like access to healthcare, education, and finance.
The e-Conomy Africa 2020 report, a unique collaboration between IFC and Google, sheds light on the great potential of Africa’s Internet economy, the promising tech entrepreneurs driving innovation, and the growing tech talent across the continent.
Analysis in the report finds that Africa’s Internet economy has the potential to reach $180 billion by 2025, accounting for 5.2% of the continent’s gross domestic product (GDP). By 2050, the projected potential contribution could reach $712 billion, 8.5% of the continent’s GDP.
Driving this growth is a combination of increased access to faster and better quality Internet connectivity, a rapidly expanding urban population, a growing tech talent pool, a vibrant startup ecosystem, and Africa’s commitment to creating the world’s largest single market under the African Continental Free Trade Area.