Africa’s mobile revenue triple that of developed countries

Africa’s mobile revenue 3 times that of developed countries

CMA Holdings Investment says Africa’s mobile telephony revenue as a percentage of the continent’s gross domestic product (GDP) is three times the norm against developed countries.

This comes as a study conducted by CMA Holdings showed Africa’s Internet contribution to the continent’s GDP can leap-frog to 11% from the current 1% for 2015.

CMA Holdings is a family investment holding company that is the founding shareholder of the ABN Group including CNBC Africa, Forbes Africa, ABN Productions, ABN Training institute and ABN Pictures.

Speaking recently at the just-ended African Media Leaders, CMA Holdings director Sid Wahi said mobile revenue was three times the norm compared to developed countries.

“Mobile telephony’s revenue as a percentage of GDP in Africa is three times the norm in developed economies. Mobile technology has a remarkable impact on Africa’s development by connecting people who previously had limited access due to scarcity of fixed line infrastructure,” Wahi said.

“Implementing new technology is one of the top investment priorities for African chief executive officers and business models will undergo changes based on technological integration. The Internet will create productivity gains across multiple sectors in Africa.”The growth of revenues generated from the mobile platforms originated from the convenience involved in transacting and […]