Companies operating across Africa need to leverage technology or face the reality of being left behind. That’s the view of Dr Rutendo Hwindingwi, associate director at Deloitte South Africa, who said it was essential for companies operating in South Africa and the rest of the continent to understand that the technology drive would be a differentiator.
“You can visit a rural cattle farmer in Africa and the scene in front of you will be much the same as it was five decades ago except for one thing, he will have a mobile phone and with it he can access the latest research and advice on cattle farming from experts anywhere in the world.” He said according to research, venture capitalists in 2012 alone had invested $40 million into Africa, specifically for technology start-up companies.
“In 2018 they believe that figure will be close to a billion dollars. They are seeing the opportunity of technology and they understand that it is the future. “Kenya is a good example of a country that is relatively small compared to some of the other countries, with a GDP of only around $75 billion and a population of 47 million, but it is becoming a major technology hub in Africa.
“Several years ago, we undertook a study looking at mobile payments. It becomes clear how adaptable Kenya is to any form of technology when one looks at payments using a cellphone. Globally (at the time) the average was 11% of people were using a mobile to make payments. The average in Tunisia and Egypt was 3%, Ghana 11%, Nigeria 13%, Senegal 24%, South Africa 29%, Uganda 50% and Kenya then was already on 68%.”
