Africa’s Time is Now

If you’re a start-up operating in Africa the common perception would be that the global pandemic of the past 2 years would have been a disaster for your business. Investment throughout Africa in 2019 was just $ 20 million.

However, the pandemic has seen the adoption of online services by many customers who previously would not have taken them to rise dramatically and it is now being estimated the lack of legacy issues in Africa has seen a quantum leap of up to 10 years in some sectors. Fintech, Regtech, Agritech and consumer-focused services covering everything from online food delivery to transport on demand have soared and investment has followed.

In the past 2 years in excess of $ 6 billion has flowed into African startups with $ 3 billion being reported in 2021 and the numbers keep growing. Single Investments of $ 100 million and above are now commonplace and several African businesses are now regarded as “Unicorns” with a valuation of $ 1 billion and above.

Corruption, famine and unrest are still common misconceptions about Africa. We have to acknowledge that these still represent a large structural problem for Africa. We only have to look at the events in Ethiopia to understand how quickly a story of economic hope can unravel.

However, reported stories about the demographics of Africa are a key driving force for investments. The ability to target a young growing population with very few legacy issues will continue to attract more investments throughout Africa.

  • 77 % of Africa’s Population are under 35
  • By 2025 100 African Cities will have 1 million residents
  • By 2050 the urban population Is expected to triple

The lack of legacy issues especially in the field of telecommunications has connected consumers throughout Africa to mobile networks and the ability to quickly access products.

Ghana has seen an increase in mobile wallet adoption grow from 350,000 to 14.7 million in just 10 years. This trust by consumers in mobile technology has allowed business to quickly scale and penetrate new markets.

2022 looks to be once again another record year for investment as global business position themselves to take advantage of the opportunities Africa presents.

IPT Africa provides payment solutions for clients looking to make payments into Africa and frontier markets. A single platform integration allows

  • Payments in 70 African and frontier market currencies.
  • Zero Transaction Fees.
  • SWIFT, local bank, mobile banking wallets.
  • Real -time transaction reporting .
  • Bulk upload to process batch payroll
  • Fully compliant and monitored transaction support

Looking for a frictionless payment solution to support your African operations?

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