Tech

5G to generate $26 billion for Africa by 2030, GSMA says

Published

2 years ago

January 4, 2023

The Groupe Speciale Mobile Association (GSMA) an association that represents the interests of mobile operators and the broader mobile industry globally, has predicted that the 5G network will generate $26 billion for Africa by 2030.

In a report released by the body on Wednesday titled “5G Africa: realising the potential”, the GSMA said 5G-related activities have begun to pick up across Africa, including spectrum auctions, pilots and commercial trials, as well as efforts to develop locally relevant 5G use cases, the report found.

The report signed by Angela Wamola, Head of Sub-Saharan Africa at GSMA, said what the projection means is that 5G will account for 20% of mobile connections in Africa by 2030, with the belief that retail, manufacturing and agriculture, will be among the sectors that will see the most impact.

“5G in Africa is a matter of when, not if. The decision on when to launch 5G is often based on a number of factors in the local market that reflect the readiness of operators to roll out 5G networks and readiness of customers (consumers and enterprises) to adopt 5G services and 5G-enabled solutions,” Wamola said.

“Ready or not, the 5G era has already begun in Africa. This will be driven not only by the benefits of the network economics and innovation that this evolutionary broadband technology promises, but also by the region’s digital natives who will be front and centre in fuelling consumer interest in non-connectivity offerings, such as video and music streaming, gaming and metaverse applications,” she added.

The GSMA also predicts that by the end of this decade, there will be more than 340 million 5G connections in Africa, equivalent to a fifth of total mobile connections. Together, 4G and 5G will account for nearly two-thirds of total mobile connections at the end of 2030.

“5G networks bring substantial improvements over previous generations, including higher connection speeds, greater capacity and lower latency.”

“With this increased performance, 5G networks can enable new use cases and applications that will positively impact many industry sectors,” the report said.

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Tech

20 African tech-preneurs embark on Korean innovation tour

Published

2 hours ago

December 22, 2024

Isaac Dachen

The African Development Bank Group’s Innovation and Entrepreneurship Lab has selected 20 promising tech entrepreneurs from various African technology ventures and enterprise support organisations to embark on a two-week study tour of the Republic of Korea, with the aim of seeking investment and insights from the country’s innovative tech ecosystem.

The selected entrepreneurs are from 133 ventures that participated in last month’s Africa Tech Startup Forum.

The forum which will hold under the auspices of the lab’s “Leveraging the Entrepreneurial and Innovation Success of Korea to Strengthen African Enterprise Support” project, had selected entrepreneurs who pitched the best business models during the week-long virtual market access and acceleration programme preparing, training, and connecting technology ventures with opportunities.

The 20 young tech-preneurs were selected from eight African countries including Nigeria, Egypt, Ghana, Kenya, Morocco, Rwanda, South Africa, and Uganda, with the delegates spanning various sectors in the technology space.

While in Korea, the African delegates will pay visits to prestigious institutions such as Global Startup Centre, LG Science Park, the Korea Software Technology Association, and the Global Digital Innovation Network.

Speaking on behalf of the delegates, founder of Kenya-based health technology venture Zuri Health, Uche Ezadinachi said:

“I am excited to go to Korea because the country has made serious technological developments. The country is a technology-driven society, and this tour is an opportunity for me to see how we can bring such technology to Africa.

“We will share experiences with our Korean counterparts; they will learn from us as much as we learn from them,” he added.

Tech

Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments

Published

3 days ago

December 19, 2024

Isaac Dachen

Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.