African countries are seeing the effects of the digital revolution, which is being fueled by the widespread use of new technologies such as automation, artificial intelligence, and networking. A number of nations, like Kenya, have taken use of digitalization to enhance the lives of their people as well as the general economy of their country.
Profitability has also been boosted by the fast growth of the internet, which has resulted in the creation of millions of new employment. By 2030, it is expected that Africa would be able to compete with the rest of the world in terms of economic and social development. Following are a few of examples of industries that have flourished on the continent since the introduction of the internet:
Sports Betting is a popular pastime.
Sports betting, especially on mobile devices, has exploded in popularity across a wide range of African nations, and it has emerged as one of the most prominent topics at the SBC Digital Africa conference and expo this year. In the past decade, the combined markets of Nigeria, Kenya, and South Africa have grown to a value of about $40 billion, according to estimates. As a result, since sports betting has just recently begun to gain traction on the continent, new possibilities have begun to arise, as well as a slew of new problems that must be addressed.
Football, rugby, and cricket are the most popular sports to bet on online, out of all the betting possibilities available to you. Football, on the other hand, continues to be the most popular sport in Africa, with over 100 players having been recruited from a variety of African teams and placed in first division leagues in Europe and the United States. The fact that the industry is benefiting from technology is evident all over the world, where bettors and fans can register on international online betting platforms to check football odds and place wagers on the Africa Cup of Nations, as well as other sporting events taking place in the country, among other things. Moreover, it demonstrates the increasing impact of African sports and sportspeople on a worldwide level, with the expectation that these markets would continue to develop.
Money on the Go
Most people are familiar with M-Pesa, which is a mobile money transfer service that started in Kenya and is now available in more than 100 countries. M-Pesa is a mobile money service that operates in 10 countries across the world. It began as a text message-based business before the internet became widely available in Africa. A mobile application with additional capabilities was developed as a result of this, making money transfers even simpler and more accessible for individuals to do. Individuals with internet connection and cellphones are becoming more common, and statistics indicate that about 614 million transactions are completed each month throughout the continent.
The development of an original concept such as this is critical because it has the potential to lead to the support of a financial and transactional ecosystem that extends throughout the whole continent. M-Pesa has accomplished this, and people are now able to handle their money and payments in a more contemporary manner. Furthermore, the business has even become a symbol of what can be accomplished when creative ideas are given backing and financing, with numerous companies following in its footsteps in the years that followed. Despite the two instances provided above, the development of online platforms is one of the most promising developments that the internet has brought about for Africa. New opportunities are being created for young people, women, and entrepreneurs via local employment platforms, as well as through e-learning, financial technology (fintech), and innovation centers. In the process of developing, a whole entrepreneurial ecosystem is being created that provides financing, access to knowledge and worldwide connections, as well as the necessary instruments to transform ideas into reality and propel the African digital revolution ahead.