- BOKU Lets You Buy Online With Your Mobile Phone Number
- These 15 Companies Raised Over $190 Million In Funding This Week
- Top 10 New York Startups You Should See
- LinkedIn Acquires CardMunch- Business Card Converter And Now Offers It For Free
- How A Carrier Independent Payment Platform Allows Australians To Order And Pay By SMS
The first African edition in the GSMA Mobile Observatory series report conducted in 2011 indicates that in 2010 the mobile industry accounted for $56 billion of Africa’s GDP, which is equivalent to three and half per cent. Between 2000 and 2008, mobile operators across Africa invested $54 billion in voice network.representing 3.5% of Gross Domestic Product (GDP) in the continent.
The regular geographic scope of this study consists of the 54 countries of Africa – both North Africa and sub-Saharan Africa. Key findings of the study are:
- Africa is the second largest mobile market in the world after Asia with over 620 million mobile connections;
- Number of mobile connections in Africa has grown an average of 30 percent per year and is forecast to reach 735 million by the end of 2012;
- Mobile Industry in Africa contributes US$56 billion to the regional economy, equivalent to 3.5% of total GDP;
- Around 36 percent of Africans, within the 25 largest African mobile markets, still have no access to mobile services.
“Over the past 10 years, the number of mobile connections in Africa has grown an average of 30% per year and is forecast to reach 735 million by the end of 2012,” the report stated.
The report observed that the emergence of mobile money transfers and mobile banking puts Africa firmly at the forefront of the global Mobile Money industry, saying that beyond mobile services, the mobile industry is also contributing to rural electrical distribution with lower carbon emissions and facilitating the work of NGOs across the continent.