Africa is one of the fastest growing economic regions in the world, experiencing a steady rise in GDP over the last 20 years fuelled by government reform and market liberalisation, rapid growth in the technology and communications sector and foreign direct investment.

The common misconception is that the rapid growth seen across the continent from the late 1990’s to the early 2000’s is solely due to high commodity prices, particularly the soar in oil prices. However, according to research*, oil and other natural resources accounted for just 24% of Africa’s GDP growth between 2000 and 2008, with telecommunications, financial services, agriculture and manufacturing all making sizeable contributions.

The telecommunications sector, and the use of mobile phones in particular, continues to dominate the headlines and with good reason – the continent has seen 316 million new phone subscribers since 2000*, more than the total population of the US.

All of the above have helped create an enabling environment which has led to a rapid rise in the use of technology across the continent. From enterprise solutions to e-commerce, African companies are harnessing the power of technology to reach hundreds of millions of consumers in need of products and services across all sectors.

Adlevo Capital believes that investing in African companies with technology-enabled business models will generate significant returns for investors as well as create a positive impact on the local economy through job creation and training.

* Source: McKinsey & Company

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Source: McKinsey & Company