The startup industry in Africa continues to blossom at an incredible pace. The continent is gradually becoming a source of technological innovations, with most countries investing in different tech hubs.
Step by step, the startups become more specialized and widespread across several countries. This article will be mainly about the most popular startup industries in Africa, why they are so popular, and what is the future for them.
The manufacturing industry holds vast potential in Africa. It also provides an opportunity for the whole region to be a quality standard of living for citizens. Manufacturing is a pivotal catalyzer for the continent’s fast and inclusive growth. The people are looking for innovative ways to implement strategies and create startups that involve targeted investment in infrastructure.
No wonder gambling industry startups are very popular, because a lot of people are fond of playing online casino games. Even though it is illegal in most parts of the region, the citizens are using mobile phones, laptops, personal computers to access casino games. It is evolving slowly, and different startups try to focus on producing innovations.
However, it should be mentioned that most startups chase profits more than innovations, which is very reasonable. We can say the same about gambling. They are determined to gain revenue, but in most cases, everything ends with failure. Mainly it is a failure because as many companies are gaining a foothold in the casino industry, people are looking for new ideas and innovations and this is why Spinia casino website which is also a gambling company, declares all the time that no matter how much is invested in a casino startup, it will simply not bring huge revenues if there is not something unique or special about the innovation.
The gambling industry is still developing in Africa, and newly-established startups try to follow this concept as best as they can - innovations ahead of profit, which after some time will definitely bring profits and the customers’ satisfaction as well. Nothing is more beneficial than having the loyalty from the customers and the decent revenues simultaneously.
It may seem surprising, but yes - Africa’s technology startups receive more investments than other sectors and are increasingly popular across the region. For example, in Ghana, MTN launched a mobile-money based IPO which raised over $200 million.
We can say the same about Flutterwave, which is a Nigerian-headquartered payments API that announced a partnership deal with Alibaba, enabling African merchants to receive payment from Alipay’s one billion users.
The fintech startups make it possible to build a technological-oriented system, and a new generation of African youngsters are actively taking part in this process.
Moreover, Africa is aiming for a revolutionary payment change, which is focused on bringing a cashless network, the one which Sweden, for instance, has recently announced.
Africa no more presents a technologically inferior continent, as we see that the main direction is oriented towards technological development. This is a logical decision because in a world of computers, it is essential to introduce as many technological innovations as possible; otherwise, it is extremely hard to keep up with modern trends. Africa is spending a lot of time on cryptocurrency as well, which by some financial experts is considered as the future of payment network.