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Telecoms forecast to be fastest growing sector

from ALLOYCE KIMBUNGA in Dar-es-Salaam, Tanzania
DAR-ES-SALAAM – THE telecommunications sector is projected to be the fastest-growing industry in Africa over the next five years as internet connectivity improves.

Research by blockchain-based mobile network operator World Mobile, forecasts the uptick.

In a survey in which business leaders were asked to pick the three sectors they believe will see the strongest growth over the next five years, three out of four (75 percent) senior executives selected telecoms.

It was comfortably ahead of the healthcare sector which emerged as the second choice selected by 61 percent of survey respondents as one of three industries that will see the strongest growth ahead of tourism at 44 percent.

Senior executives at companies with combined annual revenues of more than US$6,75 billion based in Angola, Botswana, Cameroon, Ethiopia, Ghana, Nigeria, South Africa and Tanzania were interviewed for the study.

Improvement in internet connectivity was identified as central to growth in the economy and across all sectors.

Around two-thirds (66 percent) say it is important while 20 percent believe it is very important.

“The expansion of telecoms across the African continent is central to driving economic growth and senior business executives clearly agree as they rank it well ahead of other major sectors of the economy,” said Micky Watkins, Chief Executive Officer of World Mobile.

World Mobile is helping to revolutionise internet connectivity in sub-Saharan Africa.

It is working with the government in Zanzibar where it is launching a hybrid mobile network delivering connectivity supported by low altitude platform balloons.

World Mobile is in discussions to expand in Kenya and Tanzania as well as other territories underserviced by traditional mobile operators.

– CAJ News

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