According to new research by mobile network operator World Mobile, the increasing digitalization of Africa is inspiring members of the continent’s diaspora living in Europe to increase investment in their countries of origin.
The African diaspora, which is comprised of individuals and communities of African descent living outside the continent, has long provided financial support to African countries. In recent years, digitalization has made it easier for diaspora investors to connect with and invest in African businesses and projects.
The study found that investing in digital infrastructure and services is becoming increasingly important as the number of people with internet access and doing business online continues to rise. 82% of participants said that increased digitalization and improving internet connectivity across the continent means there are more investment opportunities, motivating them to devote more money to supporting businesses.
One example is Suhailah Abdallah Juma, a hopeful small business owner attempting to start an online fashion business from her home in Zanzibar. She expressed her difficulties with the local internet network, saying that it takes a long time for her customers to see the products she wants to send them.
Micky Watkins, CEO of World Mobile, said, “In addition to radically altering the economic outlook, high-potential investment opportunities are made possible by increased internet connectivity and digitalization.” He added that providing faster, more reliable, and affordable internet connectivity, especially in regions where connectivity remains a problem, will be a game-changer for economic growth and development.
Source: www.it-online.co.za