According to a new report from Google and International Finance Corporation (IFC), the internet economy of Africa has the potential to contribute $180 billion to the continent’s GDP by 2025. That would give about 5.2% in the gross domestic product (GDP).
By 2025, the Internet economy has the potential to contribute $180 billion to Africa’s economy growing to $712 billion by 2050 . Over the next five years, COVID-19 is expected to delay economic growth both in Africa as well as the rest of the world. However, the resilience of the Internet economy, coupled with private consumption, strong developer talent, public and private investment, investments in digital infrastructure, and new government policies and regulations will continue to drive this growth in Africa.
Largely, it is time to have a strategy for your internet-anchored future, in both professional and business domains. Like the Abia State government (Nigeria) which abandoned the state college of education after it went on a strike, I expect Nigeria to give up on about 10% of tertiary institutions in the nation by 2025. Simply, the government will not fund them, and they will just disappear! A redesign is coming due to the application utilities era of the Internet, and dislocation and disruptions will happen at scale.
Now is the time to plan: from the voice telephony decade to the mobile internet decade, we just got into the application utilities decade, things are changing. The internet will play a major role in everything we do. If you are not clear on how to navigate this future, now is the time to join me for a three month journey.