Updated: Feb 8
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, or 8.5% of the continent’s GDP, according to a joint report by IFC and Google.
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.
A variety of sectors – including fintech, e-Commerce, healthtech, media and entertainment, local transportation, food delivery, and business-to-business (B2B) e-Logistics – are leading the way in Africa’s digital transformation.
Infographic: e-Conomy Africa 2020 report by IFC & Google