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Professional investors are forecasting strong growth in the value of Africa’s internet economy with mobile phones central to the expansion, new global research for blockchain-based mobile network operator, World Mobile, shows.
 
The study with professional investors responsible for around $700 billion assets under management, by independent research company PureProfile, found one in four respondents expects the value of Africa’s internet economy to more than double over the next three years from the current estimated $115 billion. More than half (51%) expect it to be worth more than $200 billion by 2025.
 
Increased use of mobile phones will be central to the growth which will be further enhanced by improved affordability, the study with investors in the US, Germany, the UK, Hong Kong, India, Japan, Nigeria, and Switzerland found.
 
Around 71 percent of investors expect affordability of mobile phones in Africa to improve over the next three years – currently it is estimated they account for around 6.8 percent of monthly incomes on average – while nearly all professional investors (97%) believe the COVID-19 pandemic has accelerated demand for mobiles.
 
Professional investors questioned believe healthcare is the sector that will see the most benefit from increased connectivity, followed by e-commerce, media and entertainment, finance, and education.