African Digital and Media Industry Booms
The African digital and media industry is responsible for the betterment of millions of lives and helps to transform African societies rapidly. Africa has the unique opportunity to create economic growth and a sustainable economy through better use of data instead of using old technologies that consume fossil fuels.
The benefits of the African Digitalisation revolution aids in the spread of information, job creation, open communication between citizens, and aids in creating an efficient society.
A study conducted by think with Google showed that five trends helped the rapid growth of the African Digital and Media Industry. Aimed at helping business owners understand Africa’s $180 Billion internet future.
In 2020, each of Africa’s 68 major cities had a population of over one million citizens, with the number of towns with a population of over one million set to increase to 85 cities by 2025.
In 2025 it is predicted that the urban population will grow by an additional 190 million people. A total of 45% of all Africans will be living in a city.
In nations such as South Africa and Nigeria, the percentage of urban residents will increase to over 80% of the country’s total population by 2050. This is an increase of 800 million Africans moving to urban areas.
Due to the rapid urbanization growth within African countries, the amount of money spent on consumer goods and services within metropolitan areas is roughly 79% higher than the national average.
The improved internet connectivity and access to innovative technologies within these urban areas play a massive role in population relocation and broadens employment opportunities, creating larger markets for commerce, driving financial and social inclusion.
Africa’s Developer Population is Young
Africa’s technology ecosystem, innovation hubs, and talent pool, directly linked to the rise of local developer talent. Software development and Information Technology currently influence and affect how industries run worldwide.
The technology talent in Africa has reached a historical high while continuing to rise. With over seven hundred thousand qualified IT developers throughout Africa. With over 50% of these developers located within five key African markets;
- South Africa
Mobile Devices are the most common means of Internet Connectivity
Across Africa, over 60% of the population can access the Internet via their mobile devices. Experts estimate that by 2025, there will be over 167 million more mobile users from Sun-Saharan Africa, a total of 167 million additional users.
Internet users within Africa will grow by 11%, comprising 16% of the global mobile device amount.
The increase of mobile devices users has a heavy influence within the online casino, betting, and gaming industries, expected to have a CAGR growth rate of 12% from 2020 to 2025.
South African Company Deloitte recently conducted a survey that found a critical behavioral trend across media and entertainment consumption. It showed users to be more active when building their collection of mobile media services within the mobile entertainment industry. The two primary mobile industries were mobile streaming services and the mobile gaming industry.
According to Antia Fuller, who conducted the survey, “the African digital media consumption is morphing at an unprecedented speed, and survival depends on anticipating the key value drivers of the ongoing convergence of digital media channel, and moulding products like gaming and eSports that deliver this value.”
In sum, the online casino and gaming industries have become a popular choice with pundits and the youth of Africa. Games like Merry Xmas slot and Casino Cruise, as this Casino Cruise review points out, seem to be popular choices.
Africa’s Demographic Booms Fuels Consumption
African consumers have become more affluent as they become household decision-makers, the proportion of the population that can legally work continues to rise.
By 2050, Africa will have the only global decreasing dependency, boosting Africa’s competitiveness in the skilled and unskilled labor markets, increasing consumer spending power.
The African Development Bank stated that over 350 million people fall into the middle-class category. The African Development Bank further noted that when the growing middle-class of South Africa has been excluded, the rest of Sub-Saharan Africa spends over $400 million per day. Africa expects to be home to over 1.7 billion consumers, contributing to a total expenditure of $2.5 trillion by 2030.