Business
Africa is the worlds 2nd largest mobile phone market – still growing
Saturday, March 17, 2012
Telecoms operators are slowing their price wars and rolling out new products as the mobile market becomes more saturated.
With approximately 650 million connections, Africa is now the world’s second largest mobile phone market, according to the GSM Association.
This growth has fuelled the rise of telecoms within The Africa Report’s Top 500 ranking, with total revenue from telecoms firms on the list more than doubling from US$34 billion in 2006 to US$78 billion in 2011.
The sector is a huge employer, with an estimated five million people working in the African telecom ecosystem.
The share of telecoms companies’ revenue in the Top 500 fell from 12.4 percent last year to 11.3 percent in this year’s ranking.
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