VENTURES AFRICA – Africa is struggling in to economic climate along with everyone else, but with such a large continent, what are the options available to ensure the required infrastructure? Catching up with technology is the way forward.
Economic growth is a touchy subject all over the world right now and the strategy differs depending on the country or region of focus. African countries in particular are in need of better infrastructure in order to raise growth. The complications come with other issues and demands that the countries also face when it comes to spending. These issues could be health, education, and others.
What is the answer? In order to achieve the desired infrastructure considerations must be made, but, which is the best way to go? Africa could look into financing and aid options or even investment. Infrastructure is said to equal growth and quality of life, but is financial borrowing the way to go?
Africa is an impressive continent with over 50 individual countries; unfortunately most have barely grown in recent decades. It is this century that has seen some positive movement with domestic product growth and a trending growth in sub-Saharan countries reported in 2011 with an increase in output by 5 percent.
Foreign investment is made more feasible with the growing industries such as oil, game, banking, and telecom; this leading to a 27 percent rise in foreign invested projects between 2010 and 2011. It is the analysts who have suggested that the key to growth in Africa will be dependent on the quality of infrastructure in all sectors. At the moment, it is estimated that 72 million dollars a year is being invested via governments and private investors in a bid to better the infrastructure.
A decent telecommunications infrastructure is vital for Africa in order to compete, attract investment, and enter new markets. Since 2009 there has been noticeable movement in bringing Africa’s countries in line with others in the form of high speed internet. This opens Africa into a whole new world and enables the advantages of e-commerce, VoIP, cloud, and the option of entering the ever-expanding online business market.
Online communication brings a lot to Africa and opens a world of new opportunities from online business, to UK stag weekend packages! The knowledge and understanding that comes with being able to use the internet is unbeatable.
Staying connected is something that can be taken for granted in some countries, and now Africa can learn how they can benefit from connectivity too. It is already enabling oil rigs to adopt better ways of working. The potential growth in Africa for broadband will be great to say the least and will bring endless opportunities. They can be much more competitive and as the possibility of personal and office connectivity increases, so does revenue. Connectivity in the form of the internet also leads to connectivity in the form of mobile services.
It is mobile broadband services which have driven the broadband development and bought its own role in bettering Africa’s infrastructure. Technology likes this means more can be reached in the form of banking, healthcare, and educations.
Africa has great potential, and with the help of connectivity and infrastructure, can become a great success. As long as risks are considered, investment and financial aid is sure to be the way to help advance the countries towards the required infrastructure. By 2040, it is likely and expected that the continent will be the home place of one in five of the younger people in the world, which means making these industry advances now is essential to create opportunities for the generations to come.
Building and maintaining this infrastructure could see completely different time for Africa and with the population that they will house; it is vital that industry structure and markets are established now. Africa is a huge piece of the world and one that can make a big difference to its own economy by catching up to the more technologically advanced countries.