Tag: Enterprise Services
MTN marks three decades of operations, celebrating a legacy of connecting people, changing lives, and driving economic growth across South Africa and the African continent.
“As we reflect on this significant milestone, we express our sincere gratitude to all our stakeholders, past and present, across multiple jurisdictions, for their support,” said MTN Group President and Chief Executive Officer Ralph Mupita. “We couldn’t have achieved this remarkable success without you.”
Since its inception in 1994, MTN has evolved from a small South African start-up with 20 employees into a global telecommunications leader, employing over 17,500 individuals representing more than 70 nationalities across 18 diverse markets.
In South Africa, MTN’s impact has been profound. The company’s network now reaches 97% of the population, providing a foundation for digital inclusion and economic empowerment. By investing in cutting-edge technologies like 4G and 5G, MTN has ensured that South Africa remains at the forefront of technological advancement. A recent study by KPMG showed that MTN South Africa’s contribution to the country’s GDP is substantial, making it a key player in the national economy.
The evolution of handsets and the proliferation of apps have democratised access to information and essential services, from financial solutions to healthcare, education, and entertainment. This has been a game-changer for individuals and businesses alike.
MTN’s influence extends far beyond South Africa. In 2023, the MTN Group recorded over R220 billion (more than US$11 billion) in revenue, a testament to its market leadership and the growing demand for digital services across Africa. This success has driven the company’s market capitalisation to over R150 billion, solidifying its position as one of the continent’s most valuable companies.
Across Africa, MTN connects millions, empowering them with essential communication tools and access to vital services. More than 149 million people rely on MTN’s network for data access, fuelling a digital transformation that is reshaping industries and societies. Additionally, MTN Mobile Money (MoMo) provides over 65 million individuals with access to financial services, driving financial inclusion and economic empowerment in underserved communities.
MTN’s commitment to socio-economic development is evident everywhere. In 2023, the Group’s total tax contribution to governments across markets was nearly R62 billion (over US$3.3 billion), supporting vital public services and infrastructure development. MTN’s operations also generated some R159 billion in economic value, creating jobs, stimulating economic activity, and fostering digital innovation.
From the outset, the Group has been driven to make a social impact. Launched in 2001, the first MTN Foundation had an annual budget of R22 million. In 2023, MTN spent ten times that – R220 million – in corporate social responsibility across markets, with a special focus on developing digital skills to enable the digital economy.
Furthermore, both MTN Group and MTN South Africa have achieved Level 1 Broad-Based Black Economic Empowerment status, underscoring their commitment to diversity, inclusion, and social transformation.
MTN’s dedication to giving back is embodied in the annual “21 Days of Y’ello Care” initiative, which has been extended to 30 days this year to commemorate the 30th anniversary. Kicking off on 01 June 2024 under the theme “Learn Today, Lead Tomorrow: Education for Rural and Remote Communities,” this initiative mobilises MTN employees across the continent to dedicate their time and resources to enhance educational opportunities. This year, the focus is on bridging the educational divide in rural and remote areas, providing digital learning tools, and supporting educational infrastructure to empower the next generation of leaders within these communities.
MTN’s 30-year journey is a testament to the transformative power of technology and the unwavering spirit of innovation. Looking to the future, MTN remains dedicated to bridging the digital divide, empowering individuals and communities, and driving Africa’s sustainable and inclusive progress through cutting-edge digital solutions.
MTN Group reported a resilient underlying operating performance for 2023 in the face of tough macro headwinds, declaring a total dividend of 330 cents per share. Inflation remained elevated in several key markets and the sharp devaluation of the Nigerian naira impacted reported results for both MTN Nigeria and MTN Group.
Amid sustained high demand for data and fintech services, MTN Group increased the number of active data subscribers by more than 9% to 150 million – half the total subscriber base – and active Mobile Money (MoMo) users by 5% to 72.5 million. Total subscribers increased to 295 million across the Group’s markets.
In the year to end-December 2023, data traffic on MTN’s networks (excluding joint ventures) grew by more than a third, with usage up to an average of more than 6GB per user per month. To sustain this growth, as well as network coverage and quality, MTN deployed capital expenditure (excluding leases) of R41 billion in the year.
The volume of fintech transactions also increased by around a third to 17.6 billion, with the value of transactions across the fintech platform up at US$272 billion, driven by growth of advanced services in payments, banktech and remittance solutions.
In South Africa, where the business faced loadshedding challenges, subsidiary MTN South Africa deployed R10 billion of capex to drive network capacity expansion and power resilience. More than R2.6 billion of this was investment in power and security resilience. By the end of the year, network availability across the entire network reached around 95%. For the sites where we had completed our resilience investment, we recorded network availability of more than 98%.
MTN South Africa reported solid growth in the consumer postpaid, enterprise and wholesale businesses. In the second half of the year there were also sequential improvements in the consumer prepaid business.
Strategic delivery
In the year, MTN Group made good strategic progress in the development of our fintech and fibre businesses. A key highlight was concluding an agreement for payment network processor Mastercard to invest up to US$200 million for a minority stake in MTN Group Fintech at a valuation of US$5.2 billion.
“We are excited about this partnership, particularly the commercial agreements, which we expect to support the accelerated growth of our fintech business,” said MTN Group President and CEO Ralph Mupita. “In 2023, we also advanced our work to structurally separate the fibre business, Bayobab, with engagements to secure regulatory clearances in key markets being the main priority.”
In the year, Bayobab and Africa50 partnered to develop Project East2West, a terrestrial fibre optic cable network to help bridge Africa’s connectivity gap by improving broadband access for the continent’s landlocked countries in particular.
Among the Group’s other strategic progress highlights were the 13.1% absolute reduction in Scope 1 and 2 emissions. This is part of our environmental commitment to reach Net Zero emissions by 2040. We also finalised the sale of MTN Afghanistan, which completed the Group’s exit of our consolidated subsidiaries in the Middle East.
Resilient results
In the year, MTN Group’s finances withstood a challenging external environment, marked by elevated inflation (averaging a blended 16.7%), forex volatility and paucity, and ongoing political tensions in some markets, most notably in Sudan.
In constant currency terms, MTN Group service revenue grew 13.5% to R210 billion, with data revenue making up R84 billion and voice revenue contributing R83 billion. Fintech revenue totalled R21 billion.
Earnings before interest, tax, depreciation and amortisation grew by almost 10% in constant currency terms to R90 billion. The Group delivered expense efficiencies of R2.6 billion and kept key debt ratios within covenant levels.
Outlook and priorities
Looking ahead, Mupita said MTN remained focused on executing on Ambition 2025: sustaining operational momentum, accelerating the platforms strategy, driving expense and capital efficiencies, and continuing to strengthen the balance sheet.
“We are anticipating that the macro conditions in our trading environment will persist in 2024, with naira volatility and elevated inflation the key challenges we will need to navigate. MTN plans to invest R35-39 billion in 2024 to position the company to capture the structural demand for data and fintech services across Africa,” he said.
“We maintain our overall medium-term guidance framework, however simplifying our objective for fintech,” Mupita said, adding that MTN was encouraged by the outlook for the fintech business, given the solid growth in advanced services. “The partnership with Mastercard positions the business well to scale faster and we are excited about the commercial launches of card issuance, acceptance and remittances across the footprint.”
MTN Group has announced the winners of the 2023 Y’ello Care Awards, recognising the work done by more than 5 000 MTN volunteers across our operations to nurture grassroot entrepreneurs during the annual ‘21 Days of Y’ello Care’ campaign.
Y’ello Care is an opportunity for MTN employees to volunteer their time and resources to support their communities. The Y’ello Care Awards showcase the power of collective effort and affirm MTN’s role as a catalyst for positive change and inclusive growth in Africa.
MTN Uganda was named the overall winner of the 2023 campaign, themed “Empowering entrepreneurs to unlock growth and job creation for communities”. This theme was chosen because of the role that small and medium enterprises (SMEs) play in driving economic development, particularly in Africa, where they contribute up to 45% of employment and 33% of GDP[1].
“At MTN, we know that real progress is made through collaboration, innovation and a shared commitment to empowering others,” MTN Group Chief Sustainability & Corporate Affairs Officer Nompilo Morafo said.“The Y’ello Care Awards are a celebration of this and a tribute to the dedication of our employees who volunteer their time and expertise to make a positive difference.”
In line with MTN’s strategic intent of ‘leading digital solutions for Africa’s progress’, MTN Uganda provided tech infrastructure, connectivity, and training to SMEs to enhance digital and financial literacy and equip entrepreneurs with the skills they need to navigate the digital marketplace.
MTN Cameroon won the West and Central Africa (WECA) region award for its work to empower female entrepreneurs and people with disabilities. Key initiatives included workshops, the provision of adapted co-working spaces, and assistive technologies. These efforts were aimed at creating an inclusive environment conducive to business growth.
MTN Eswatini received the Southern and East Africa (SEA) region award for a five-project campaign, including the ‘Trash to Treasure’ initiative focusing on waste management and entrepreneurship training for disadvantaged youth, and a greenhouse project supporting women farmers.
MTN Sudan scooped the special recognition award for the Middle East and North Africa (MENA) region, acknowledging the operation’s commitment to maintaining connectivity for communities even under challenging circumstances. Sudan remains home to the largest child displacement crisis in the world, with over three million children fleeing the war. MTN Sudan’s connectivity centres are playing an instrumental role in supporting child-friendly safe learning spaces.
MTN’s commitment to supporting SMEs extends beyond our dedicated 21 days of Y’ello Care initiative to a broader strategy to empower businesses through technology and connectivity solutions. Recognising the critical role we play in an increasingly hyper-connected world, MTN leverages our Enterprise Business to cater to the evolving communication and ICT needs of SMEs.
Whether its equipping entrepreneurs with the latest technologies, supporting women-led businesses, or fostering sustainable agriculture practices, MTN’s support goes beyond connectivity. It’s about building relationships, understanding needs and offering tailored solutions that empower businesses to chart their own course.
Looking ahead, we remain steadfast in our commitment to social responsibility, hand-in-hand with communities, as we build a more prosperous and equitable future for Africa.
[1] World Bank, 2020
MTN has reiterated its commitment to Africa’s progress at the Africa Prosperity Dialogues, recently held at Peduase, in Accra, Ghana. The program, organised by the Africa Prosperity Network, was designed to drive Africa’s growth through high-level dialogues between government and business leaders from Africa and beyond to deliberate and exchange ideas on key issues and solutions for building and harnessing Africa’s growth.
Ebenezer Asante, MTN Group Senior Vice President, Markets, encouraged industry players as well as government officials from across Africa to support cross-border trade by putting an end to what he called the “tyranny of sovereignty”. He applauded the government of Ghana’s decision to facilitate visa-free travel for Africans and bemoaned the challenges Africans face in making cross-border payments and transactions.
He said, “The tyranny of sovereignty must end to allow proper trade and ease of doing business across West Africa. Technology continues to transform the way we trade, and we must leverage the immense opportunities it presents to trade within our borders. The tyranny of sovereignty is an impediment to progress because with our borders closed to each other, we cannot foster seamless trade. African countries must open their borders to each other to allow intercontinental trade.”
Nompilo Morafo, MTN Group Chief Sustainability and Corporate Affairs Officer and Selorm Adadevoh, CEO of MTN Ghana, contributed to the conversation on “Critical Enablers for Single Market Success – Leveraging Infrastructure, Innovation, and Technology”.
Morafo underscored the significance of corporate entities engaging in discussions that propel Africa’s development. She expressed MTN’s enthusiasm for participating in initiatives like the Africa Prosperity Dialogues, which are vital for promoting digital and financial inclusion. Morafo added, “What we hope for is that at the end of these dialogues, we will see policies and frameworks enacted to bring to life the wonderful ideas we discuss at these sessions towards the overall growth of the African continent”.
Adadevoh, echoed her sentiment highlighting the advantages of harnessing the power of the youth to push Africa to the forefront of technology. He said, “It is not enough to invest in the infrastructure without investing in the skills needed. Africa has the largest youth population in the world. We must harness the power of the youth by transforming our current educational system towards a more digital framework.”
Participating in a discussion on ‘Scaling Up Mobile Interoperability to Deepen Financial Inclusion and Intra-African Trade,’ Eli Hini, CEO of MoMo PSB Limited Nigeria, highlighted the importance of involving Small and Medium-sized Enterprises (SMEs) in achieving interoperability across African countries. He shared, ”Ease of participation is a crucial factor in the discussion of interoperability if we want to deepen financial inclusion and intra-Africa trade. If we are finally able to get the framework and structures that allow us to trade among ourselves, then we must take into consideration the ease of participation. SMEs, often grappling with challenges in cross-border trade, should be a focal point. It will be a waste of time to solve the issue of cross-border trade if SME’s cannot benefit from it. They must be well integrated into the system and given the access that they need to leverage the benefits of this agenda. We must be careful not to put up roadblocks that hinder their participation.”
MTN is inspired by Africa’s potential and remains committed to bridging the digital divide, furthering financial inclusion, and advancing the attainment of the United Nations Sustainable Development Goals through its core business activities and its support to governments, communities and customers.
In the first half of 2023, MTN Group delivered resilient results, advanced our strategy by partnering with Mastercard on the MTN fintech business, and progressed plans to exit Afghanistan. This was achieved in a difficult operating environment marked by elevated inflation, weaker local currencies and regulatory developments across our 19 markets.
“We delivered a resilient performance in H1 23 and made good strategic progress against a tough macro backdrop,” said MTN Group President and CEO Ralph Mupita.
“In South Africa, we were very encouraged by the improved network availability on the back of our power-resilience investment, resulting in a stronger Q2 23 performance than Q1 23,” he said. By end-June, MTN South Africa’s network availability was more than 90% despite severe electricity shortages across the country.
“In Nigeria, we delivered a very strong operational result, having navigated the cash shortages in Q1 23 and increased inflation,” Mupita said. “The policy changes implemented in Nigeria in Q2 23 have short-term negative impacts, but we see these as being very constructive for the investment climate in the medium to longer term.”
MTN Group’s service revenue grew 15% to almost R108 billion in constant-currency terms. This was driven by increases in revenue from data services of 24% and from fintech services of 22%. Revenue from voice services increased 6% in the period.
At the end of June 2023, we had 292 million subscribers with whom we worked to create shared value. This subscriber base – 4% higher than the same period last year – benefited from lower data rates and improved access to broadband services.
To facilitate the digital economy, we increased the number of active data users by more than 7% to nearly 140 million; reported a 19% increase in overall data traffic; and improved data affordability by reducing the average effective rate per megabyte by more than 22%.
We continued to invest in world-class networks and platforms for the people of Africa, committing R17.2 billion in capital expenditure in the first six months of 2023. The Group’s balance sheet remained strong, with all key metrics well within the limits of our loan covenants.
Driven by solid revenue growth and improved efficiencies, adjusted headline earnings per share (HEPS) increased by 25% to 749 cents and adjusted return on equity (ROE) expanded by one percentage point to 24.4%. These were in line with our medium-term guidance.
The MTN Group Fintech business delivered on our rapid expansion plans. The volume of transactions increased by 37% to 8.3 billion in the first half of the year. These were executed by 61 million active MoMo customers.
Following the bespoke process to identify and potentially introduce strategic minority investors into MTN Group Fintech, we executed commercial agreements with Mastercard to support the acceleration and growth of our fintech business’s payments and remittance services.
MTN and Mastercard also signed a memorandum of understanding which provides for a minority investment by Mastercard into Group Fintech based on a total enterprise valuation of about US$5.2 billion for the business on a cash and debt-free basis. Signing of the definitive investment agreements is expected to occur in the very near term as we approach finalisation of customary due diligence. The closing of the investment will be subject to customary closing conditions.
We continued to work to simplify our portfolio. The process for MTN Group to exit Afghanistan in an orderly fashion through the sale of our entire shareholding to Investcom AF, and affiliate company of M1, remains well on track. The transaction received conditional regulatory approval to proceed, pending the submission of relevant documentation to the Afghanistan Regulatory Authority.
Looking ahead, MTN will keep working to create shared value across our markets. “We are focused on the continued execution of our Ambition 2025, which remains relevant in the current macroeconomic volatility and presents attractive scope for growth,” said Mupita.
“As we manage the challenges in our operating environment, as well as the near-term impacts on our top-line and margins, we maintain our medium-term guidance.”
MTN, Africa’s leading telecommunications company, is thrilled to announce its upcoming SME hybrid event aimed at fostering growth and providing essential resources to the continent’s small and medium-sized enterprises (SMEs). The two-day event, featuring a combination of physical and online components, will bring together industry experts, inspirational thought leaders, and innovative solutions to support the success of African businesses.
Scheduled to take place from the 23rd to the 24th of May 2023 at the company’s 14th Avenue Innovation Centre, this groundbreaking event will serve as a platform for SMEs to connect, learn, and showcase their products and services to a broader audience. The event will feature a live exhibition of SMEs and partner solutions, engaging activities such as the highly anticipated JumpStarter funding competition and insightful keynote speeches from influential industry figures.
MTN is committed to empowering SMEs by providing them with the necessary tools, resources, and support to thrive in a competitive business landscape. With this event, MTN aims to position itself as the leading brand dedicated to supporting the growth and success of over 40 million African SMEs through targeted development programs and a comprehensive range of services.
One of the event’s highlights will be the live exhibition, where selected SMEs will have the opportunity to showcase their innovative products and services to potential customers, investors, and partners. This platform will enable them to increase their visibility, expand their networks, and attract new business opportunities.
MTN’s commitment to supporting SMEs extends beyond the event itself. The company’s suite of services, including MoMo (Mobile Money), Digital, ayoba, and Chenosis, will be showcased during the event, demonstrating how these platforms can empower SMEs with convenient and secure financial transactions, digital marketing solutions, communication tools, and access to a broader customer base.
“MTN understands the critical role SMEs play in driving economic growth and job creation across Africa,” said Tumi Chamayou, MTN Group Executive: Enterprise. “We are proud to host this empowering event that brings together the brightest minds and resources to support the success of SMEs. Our goal is to position MTN as the go-to brand for African entrepreneurs seeking to thrive in today’s digital economy.”
As reported in its 2022 Sustainability report, MTN supported 1,250 small and medium-sized enterprises through its enterprise skills development initiative. This SME event is a further testament to the company’s unwavering commitment to empowering African SMEs and driving their success. By providing a platform for innovation, collaboration, and knowledge sharing, MTN aims to equip SMEs with the tools and support they need to thrive in today’s competitive business landscape.
For more information about the MTN SME event, including registration details and the full lineup of speakers and activities, please visit MTN EBU SME 2023
MTN South Africa network will be the first mobile operator in Africa to provide access to 5G technology to customers from the Philippines through its international roaming agreement with the Philippines’ leading mobile services provider, Smart Communications, Inc. (Smart). The agreement delivers on MTN’s and Smart’s commitment to keeping its travelers connected and providing them with access to 5G; both at home and when travelling as capable devices become available.
Customers of Smart in South Africa can enjoy 5G roaming access when they subscribe to Smart’s GigaRoam 1GB roaming plan for only P999 valid for 5 days. To subscribe, simply access https://roam.smart.com.ph or the GigaLife app.
“This is part of Smart’s commitment to bring our world-class services anywhere in the world by expanding our 5G roaming coverage in Africa, after our successful rollout with 46 partners in Europe, USA, Middle East and Asia,” said Ray Arsenal, AVP and Head of Roaming Partnerships.
“We’re excited to launch 5G roaming in South Africa with Smart’s network because of what it means for customers,” said Arne Casteleyn, General Manager – International Roaming, MTN GlobalConnect. “With MTN Y’ello Connect Roaming Hub and our central Roaming team, we never stop innovating, developing and deploying faster roaming services to provide our customers with access to a next-generation network. Furthermore, providing 5G services to our visitors coming to Africa is crucial to get the same data speeds as at home and to harness trends such as the Internet of Things (IoT). We continue to ramp up the roll out of 4G, VoLTE and 5G roaming with the world’s top operators which proves MTN’s commitment to provide excellent roaming services to its travelers as travel restrictions ease with mass vaccinations.”
Established in 2018, MTN GlobalConnect is based in Dubai and its team is made up of more than 25 nationalities.
Africa’s connectivity relies on strategic and global partnerships continually coming together to make a difference. In 2017, MTN GlobalConnect started partnering across the African continent and around the globe with leading carriers, hyperscalers, and telecom service providers to further African connectivity.
MTN GlobalConnect is a digital wholesale and infrastructure services company and an operating company in the MTN Group. Leading the journey is CEO Frédéric Schepens, who is driven by the ambition to build up Africa. The company has been turning a profit from the first year and is continually evolving to build the much-needed infrastructure stitching African countries together and connecting them to the rest of the world. Our agenda remains true to the MTN belief that everyone deserves the benefits of a modern connected world.
Digital connectivity fosters growth, and digital services are data hungry. The best way to secure these applications is to invest in the needed infrastructure on a national and regional level. We are on a mission to connect the unconnected utilising our portfolio of fixed connectivity and wholesale mobility services. The end-to-end fixed connectivity services range from subsea cables, cable landing stations, data centres to inter-country and cross-country fibre networks. To date the company has signed 4 cross-border fibre contracts and rolled out 2,050 km of fibre in Zambia. Our existing fibre network is over 100,000km of which 85,000 km is full proprietary. That is approximately 14 times the distance between Cape Town and Cairo. Another 10,000km is being built. Wholesale mobility services range from voice, interconnect, messaging, value-added services to roaming services.
Fast forward 30 years to 2050, and Sub-Saharan Africa will be home to more than 1 billion people with 50% under the age of 25 years according to the World Bank. Sub-Saharan is also the world’s largest free trade area. According to a GSMA prediction we will have 623m mobile subscribers in 2025 compared to 456m in 2018. We need to provide the infrastructure they’ll need in the future to live a modern connected life, NOW. It takes bold steps!
Wherever you are in the world, MTN GlobalConnect is well positioned as a partner of scale with a single-entry doorway into the most significant network infrastructure in Africa. The foundation of your partnership is one single contract accompanied by a Service Level Agreement.
Among the assets available to a potential partner is the global MTN.net IP/MPLS network. It leverages 47 multinational points of presence across 29 countries in the Middle East & Africa. In addition to our fibre footprint, you have access to over 3Tbps of backbone capacity, multinational Network-to-network interfaces and peering with major content providers. For mobility and value-added services, you can access any of the Y’elloConnect Hubs for Messaging, Voice, Signaling and Roaming.
Travel underwater and you have access to a portfolio of 15 submarine cables with the latest 2Africa in joint build due in 2023/4. 2Africa subsea cable is one of the largest subsea projects in the world, connecting 23 countries in Africa, the Middle East and Europe. The 2Africa subsea cable is significant to Africa – a continent that has historically been behind the global average in internet penetration. We have direct Tier 1 level investments in the WACS and ACE cables on the west coast of Africa, and EIG and EASSy cables on the east. We have substantial indirect investments in cables such as AAE-1 SMW5 on the north east coast of Africa connecting to Europe, and TEAMS on the east coast among others. MTN owns and operates 4 subsea cable landing stations in Nigeria, Ghana, Ivory Coast and South Africa.
The pandemic has taught us the importance of human capital, highlighted the value, and accelerated the demand for digital connectivity. Embracing 2021, the wholesale and infrastructure eco-system continues to be agile, highly responsive while building a more resilient network. When it comes to Africa, growth favours the bold so let’s grow together. #GoodTogether #GrowTogether #GrowAfrica
A business that isn’t online is a business that misses a world of opportunities.
Today, potential customers and collaborators are just as likely to ask for your Instagram handle as they are to ask for your business card. Even if the products or services offered have nothing to do with the digital world, an online presence is expected. As access to the internet grows across the continent, more African entrepreneurs are able to bring their businesses online. The benefits of a connected continent are far reaching, making a positive impact on more than 4 million SMEs and the people who rely on these small businesses to make a living.
We’ve even started to provide micro-loans to help grow small businesses on the continent
Connectivity Enables Digital Marketing
If nobody knows about your business, nobody can support it. Our current world is one where word gets around digitally, and at an alarmingly fast pace. Digital marketing is essential in building a brand and growing a customer base. A mix of paid advertising and social media content can be used in powerful ways, and African businesses are finding new ways to grab customer attention every day. Content is king when it comes to marketing a brand online, and budgets to create content needn’t be large when the idea is unique or attention grabbing. Digital Odyssey recently rounded up a few viral marketing campaigns which came straight out of Africa, and we expect to see much more in the next few years as connectivity on the continent increases.
Connectivity Enables Financial Inclusion
We’ve spoken at length of the benefits of Mobile Money for African businesses in previous Spotlights, and none of those benefits would be accessible if it wasn’t for connectivity. SMEs that accept Mobile Money payments for their products and services are gaining more customers – those who don’t have access to traditional financial services. For entrepreneurs who want to reach customers beyond physical borders, connectivity creates the opportunity to build online stores and brings an e-commerce element to African businesses.
Connectivity Enables Funding
Finding investors is easier today than it has ever been. Sending pitch documents, setting up crowdfunding pages and hosting meetings online are all possible because of connectivity. African businesses or entrepreneurs with lucrative ideas aren’t limited to the people in their physical surroundings as a source of funding when their online presence is comprehensive.
Connectivity Enables a Successful Future
School-aged learners are encouraged to become entrepreneurs when they leave school, and being digitally savvy will give these learners a necessary edge to compete with global players. Access to technology is essential for African youth who want to be entrepreneurs, so we’ve donated more than 925 multi-media centres and digital classrooms to schools across 12 of our markets. By doing so, we are equipping our youth for a successful future and the opportunity to become competitive on a global scale.
If you were to travel back in time, just a few decades, how would you begin to explain to people of the past what the world is like today?
Would you start by explaining that our phones are in our pockets and not permanently attached to a cable in the wall? Would you talk about the existence of an app which can turn any home into accommodation? How would you explain the way jobs have evolved? So many popular careers today simply did not exist a few short years ago.
The creation of the digital world has led to the creation of countless jobs. Before Facebook or LinkedIn, there was no social media manager. Before Google Adwords, there was no digital marketer. Today, digitally focused companies are among the most successful in the world.
Our API portal is currently used by 1000 young developers who want to improve or add to existing online solutions.
In regions where there always seem to be more people than jobs available, the digital world provides an additional avenue for employment. As more youth in Africa choose to take digitally enabled career paths, coding online platforms and innovating solutions, they are creating more opportunities for the people around them.
The very nature of today’s youth, with their innate understanding of all things trending and tech-related, could be the key to aiding unemployment in Africa. Entrepreneurship is encouraged across the continent in order to create more jobs and reduce unemployment for youth who have completed their studies. (note: link to African Entrepreneurs are Benefitting from franchises) Even Alibaba founder, Jack Ma, feels that African youth should be encouraged to create their own start-ups and get a tax break from the government for doing so.
African start-ups are already thriving so much that investors are flocking to events like AfricArena to discover new innovations coming from the continent. Companies like South African based Aerobotics are providing artificial intelligence solutions to clients all over the world. The ripple effect of the rise of such start-ups is the creation of new jobs for people in Africa.
As connectivity improves throughout the continent, access to digital services and tools become more easily available. With a public API’s becoming accessible at a rapid pace, youth in Africa have more opportunities to create more digital solutions. Our API portal is currently used by 1000 young developers who want to improve or add to existing online solutions. When the youth code, they create jobs for those who cannot.
Consider all the roles involved in building an online store. A graphic designer and copy writer are both essential for a developer who wants to build an aesthetically pleasing and user-friendly website. Products need to be created to sell on the online store, providing an employment opportunity for those who can create. When products are ordered, they need to be delivered to customers, which produces an additional set of jobs involving logistics. One simple website can become the source of employment for many. Even those who aren’t considered tech-savvy.
The future of jobs has already begun, and as our digital world evolves, we are likely to see even more jobs in the future which we cannot imagine today. Technology and job creation certainly are good together!