Tech Scramble In Africa Attracts Big Tech Names IBM, Samsung

Over the past few months, Africa has become a hot spot for investors. Africa’s recent economic growth and its size in both land area and population have led investors to see untapped potential in the continent.

The most rapidly growing sector thus far has been technology. Market research company Frost & Sullivan claim that e-commerce in Africa has the potential to become a us$50 billion industry by 2018.

The e-commerce and mobile industries have seen the most activity and have attracted the most attention. Recent start-ups have received a surprising amount of support. At the end of last year, mobile network operator company Safaricom announced a US$1 million investment fund for mobile-related start-ups in Kenya.

Technology giants, like IBM and Samsung, have also been making moves to establish themselves in Africa now that the continent’s abundance of opportunity has been made apparent. IBM has invested $60 million into a South African technology facility for start-up development and research. Now, Samsung will launch a Digital Village in Nigeria that will offer “a complete educational infrastructure, comprehensive healthcare solution and power generation capabilities that will spur the growth of small businesses and harness the energy of the sun to minimize running costs, among others.”

Read more: MUIPR