The Transformation of Africa’s ICT Market

Africa is on the brink of a major transformation. Over the last decade, the continent was home to six of the world’s 10 fastest growing economies, and the outlook for the region remains bright at a time when the rest of the world is facing major political and economic challenges. However, attaining Africa’s aspirations in a new global context will require bold and actionable ideas, as well as strong leadership on regional, national and industry levels.

In 2012, Africa’s projected growth rate of 6% will be driven by improved macroeconomic and political stability, an ongoing resource boom and a growing consumer base. In addition, deepening links to fast-growing emerging economies and an increasing appetite of global and regional champions for long-term investments in Africa’s frontier markets are fuelling a renewed optimism about the continent’s future. At the same time, resource price volatility, youth unemployment, food insecurity and the adverse effects of climate change remain important challenges. Strengthening Africa’s leadership, accelerating investment in its frontier markets and scaling innovation will be essential in transforming Africa’s growth story into shared opportunities for present and future generations.

The 2012 World Economic Forum on Africa will be held in Addis Ababa, Ethiopia. Ethiopia is the second most populous country in sub-Saharan Africa and a prime example of the continent’s fast-growing economies. Home to the African Union and the United Nations Economic Commission for Africa, Addis Ababa will offer an exceptional

opportunity to bring together global and pan-African leaders to shape the region’s transformation.

CFI are looking to report from this event and other on Africa’s transformation and challenges.