Originally published: ITNewsAfrica.com, 14 June 2022
New research for blockchain-based mobile network operator World Mobile shows that African business leaders are forecasting a surge in spending on tech start-ups as foreign direct investment and improved internet connectivity help establish the continent as a tech superpower.
The research was conducted by independent digital research and marketing company Pureprofile, which reportedly interviewed 100 senior executives at companies based in Angola, Botswana, Cameroon, Ethiopia, Ghana, Nigeria, South Africa, and Tanzania across April 2022 using an online survey methodology.
Funding for Tech Startups Expected to More than Double
More than half (54%) of African senior executives expect spending on tech start-ups on the continent to more than double by 2025 to $10-billion or more, compared with the $4.9-billion raised last year. Around one in six (16%) believe more than $15-billion will be raised.
