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Africa Tech Festival 2022

For the first time in three years, the Africa Tech Festival took place, and the Adapt IT Telecoms team was right in the middle of all the exhibition action. It is always great to be part of this incredible event and to connect with industry leaders, customers, and potential customers. It also enabled us to discuss the many industry challenges, innovations and trends impacting this sector across the continent. 

Connecting with the African Tech Community 

The theme for this year’s Africa Tech Festival was “Connecting with the African Tech Community”, and this was achieved. The exhibition took place from the 7th to the 11th of November. It reunited the community in person while showcasing and spotlighting Africa’s vibrant tech and telecoms sector. 

This was an opportunity to share and exchange knowledge, identify industry patterns and address pain points affecting the industry and customers. Consisting of two anchor events, AfricaCom and AfricaTech, the exhibition provided an opportunity to share and exchange knowledge, identify industry patterns and address pain points affecting the industry and customers. 

The industry came out in their numbers with over 12000 onsite attendees, 7000 attending companies, 400 thought leaders, and 300 pioneering exhibitors with over 110 countries represented. 

Tech Trends in Africa 

What was inherently clear from the exhibition is that Africa holds immense potential for the telecoms industry. GSMA predicts that by 2025, there will be 615 million people in Sub-Saharan Africa subscribed to mobile services which is approximately 50% of the population. Mobile is dominating this market and with this comes a unique opportunity for Telcos. 

Telcos will be able to drive business growth by offering and delivering more personalised and value-added services that meet the unique needs experienced by customers within this market. This means investing in technology that allows for the monetisation of services, the provision of self-service options, fintech and enhanced connectivity. 

Within this space, fintech and mobile money solutions are set to continue to make waves over the next few years and contribute significantly to market growth. You may be thinking why? The answer lies in the numbers. At the end of 2021, there were around 300 million mobile money users, this figure is expected to rise to half a billion over the next five years, with 59% of Africans currently using electronic money services over traditional banking services. 

Conclusion 

From the Africa Tech Festival, it is clear that we are only just scratching the surface of what is possible within the realm of telecommunications on the continent. The telecommunications sector is full of potential, innovation and passion, and we are excited for what is to come. The future is bright and the opportunities are plenty, which makes this market one to watch.

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