Many major tech companies are looking to Africa for growth. However, many businesses in Africa are already investing in their own technology. They are leap-frogging technology, creating new infrastructures and solutions to do business in the local countries. Despite ups and downs, they are finding paths to profit. In this post, we show how many African startups are investing in technology.
Training Young Talent
Many companies are creating programs to train individuals to work in technology. They are sending people to school to build skills required by technology companies. The investment in training and skill sets will supply the demand for technical talent in the region. As more talent becomes available, young developers will be able to create solutions for local businesses and companies. Additionally, larger tech corporations can hire local talent rather than importing talent from other parts of the globe.
Venture Capital Funding Startups
Moreover, venture capitalists are funding technology hubs in Africa. Most notably, Nigeria has become a hotspot for tech startups, receiving an influx of VC funding and entrepreneurial partnerships. Many of Africa’s fastest growing startups have been founded by local Nigerians and are preparing to scale across Africa. The tech investment flowing into startup companies will surely create new solutions for the entire continent.
On top of the investment funding, there is a wave of connectivity infrastructure. Many of these tech companies need full connectivity. These businesses are going to need all types of solutions from basic web hosting to high-performance VPS servers. With the added connectivity, many African businesses will have access to the servers infrastructure needed to compete domestically and internationally. As the networking speed and data centers continue to pop up in the region, more businesses will have access to affordable solutions.
Increasing Market Data
Additionally, African businesses are investing in data solutions to learn about the markets. As we know, Africa has many diverse people. Many companies are investing in more robust market data solutions that allow them to segment customers by geography, industry or interests. As African technology continues to collect more data about their specific markets, we can expect the startups of the year to provide the most relevant and tailored solutions for growth.
Providing Software And Tools
Furthermore, African tech companies are leveraging relationships with larger tech corporations. The likes of Google, Microsoft, and Facebook are all investing in Africa by providing software, tools, and platforms to help small businesses grow. For example, a local business can use Facebook to create their brand presence before even building a website for the first time. In areas where more people have access to mobile devices, the access to enterprise technology and tools will help businesses thrive.
The partnerships within Africa businesses and technology are growing strong year after year. The investments in training, skills, infrastructure, data, and tools are giving local companies the resources need to grow and scale. As foreseen by major corporations, we can look to Africa businesses to be the driving force of growth in the technology industry.
Originally published on Africa Business