Invest Africa is set to host Google and Cassava Technologies at the upcoming Africa Tech Festival, collaborating with DLA Piper to facilitate a high-level fireside chat focused on advancing digital infrastructure across Africa. The event, featuring Google’s Managing Director for Africa, Alex Okosi, Cassava Technologies President and Group CEO, Hardy Pemhiwa, and DLA Piper’s Partner, Livia Dyer, will explore the dynamic digital landscape in African markets, shedding light on both the opportunities and challenges for investors.
The fireside chat will serve as a platform for discussions on achieving inclusive connectivity throughout the continent, addressing digital infrastructure hurdles, and raising awareness about cybersecurity and digital proficiency across diverse populations. The two industry leaders will share their perspectives on investment prospects within Africa’s evolving digital ecosystem.
The digital landscape in African markets is experiencing rapid transformation, offering substantial opportunities and challenges for investors. Approximately four in ten Africans now have internet access, with about 60% utilizing mobile phones for connectivity. This widespread access is expected to contribute a remarkable $180 billion to Africa’s GDP by 2025, and a projected 10% increase in mobile broadband penetration is anticipated to result in a 2.5% rise in GDP per capita.
Despite these advancements, challenges persist. Three hundred million Africans reside more than 50 km away from a broadband connection, and a significant portion of inter-country internet traffic relies on undersea cables. As Africa aims to establish a unified digital market, regulatory landscapes differ among its 54 countries, particularly in areas such as data protection and intellectual property rights.
Alex Okosi, Google’s Managing Director for Africa, emphasized, “Africa’s digital transformation is not just a goal but a necessity for the continent’s growth. Google is supporting a range of initiatives, from improved connectivity to investment in startups, to help boost Africa’s digital transformation.”
Hardy Pemhiwa, President & Group CEO of Cassava Technologies, added, “We believe that digital infrastructure is one of the most important pillars for Africa’s economic development. Technology solutions for the continent must be grounded in ‘African Intelligence.’ We have to develop local technology solutions and adapt what is available globally to Africa’s unique development challenges. Cassava Technologies has made extensive investments in realizing our vision of enabling a digitally connected future that leaves no African behind.”
