Technological Change And Economic Growth

Google, Facebook, Twitter, WhatsApp, Zynga, Airbnb, Uber etc etc. These are all companies that have come from nowhere and are now market leaders in an increasingly mobile and digital world. They have built their brands and revenues on populations that are increasingly sucked in (some would say addicted...) to this new world of digital apps. However, Africa is still playing catch up. If you exclude the telcos, no household African IT or social media company has emerged. Nevertheless the TMT sector in Africa is growing and thriving.

The National Intelligence Council identifies technological advancements as having a game-changing role within the global economy. This is especially visible in Africa where development and economic growth powered by technological change can be seen across the continent Africa (...just ask any farmer or trader in Kenya who uses M-Pesa to trade). The combination of rapid technology uptake, growing populations and an expanding middle class is