African Mobile Telecom Market is Growing at a Rate of 21%, Driving Economic Development of the Continent

BOULDER, Colo., Aug. 27 /CSRwire/ – The mobile telecommunications industry is driving economic growth and enabling the development of a higher and safer standard of living in Africa. The continent is poised to be the next global success story; the African mobile telecom market will grow from a combined value of over US$60 billion in 2013 to a value in 2020 of almost US$234 billion, with a compound annual growth rate (CAGR) of 21.27%. Mobile Network Operators will generate the largest portion of this revenue throughout the forecast period, followed by mobile distributors and retailers. Application developers and content providers will also benefit.

“Africa is a market which is largely misunderstood due to cultural and social issues. While African countries include half of the top 10 fastest-growing economies in the world, it is a very challenging marketplace to penetrate,” says Carol L. Stimmel, founder of Manifest Mind, LLC. “With hundreds of millions of connected mobile phones, opportunities exist to use this technology to improve sustainability outcomes for the environment, the economy, and for African society. Mobile technology is the key to this transformation.” Read more

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