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Kenya ranked top within the region in digital growth and demand, according to the latest Digital Intelligence Index payments firm Mastercard and the Fletcher School at Tufts University.
In the survey titled Digital Intelligence Index, Kenya is followed by Rwanda and Tanzania. Together, the three countries are categorised as “Break Out” economies for evolving rapidly and their significant growth.
Growth in internet penetration, improved infrastructure and more young people who are digitally savvy are some of the factors that made Kenya and Rwanda more attractive to investors.
In March, for example, Kenya and Djibouti were connected through the Djibouti Africa Regional Express 1 (Dare1) cable submarine with 30 Terabit per second boosting connectivity in the Horn of Africa. This adds to other cables serving Kenya such as Seacom, East African Marine System (Teams), Eastern African Submarine Cable System (EASsy) and Lion2 systems.
Sub-Saharan Africa countries such as South Africa, Nigeria, Uganda, Ethiopia, and Namibia have been categorised as “watch out” economies for their infrastructure gaps despite young people showing enthusiasm for a digital future with increased use of social media and mobile payments.
The study, released this month, shows sub-Saharan Africa has witnessed a vast surge in mobile payment adoption in the past decade. Savings have increased, micro-savers have opened bank accounts, and lenders are now able to price short-term loans. In fact, currently there are over 20 million virtual savings accounts.
SOURCE: The East African
In the survey titled Digital Intelligence Index, Kenya is followed by Rwanda and Tanzania. Together, the three countries are categorised as “Break Out” economies for evolving rapidly and their significant growth.
Growth in internet penetration, improved infrastructure and more young people who are digitally savvy are some of the factors that made Kenya and Rwanda more attractive to investors.
In March, for example, Kenya and Djibouti were connected through the Djibouti Africa Regional Express 1 (Dare1) cable submarine with 30 Terabit per second boosting connectivity in the Horn of Africa. This adds to other cables serving Kenya such as Seacom, East African Marine System (Teams), Eastern African Submarine Cable System (EASsy) and Lion2 systems.
Sub-Saharan Africa countries such as South Africa, Nigeria, Uganda, Ethiopia, and Namibia have been categorised as “watch out” economies for their infrastructure gaps despite young people showing enthusiasm for a digital future with increased use of social media and mobile payments.
The study, released this month, shows sub-Saharan Africa has witnessed a vast surge in mobile payment adoption in the past decade. Savings have increased, micro-savers have opened bank accounts, and lenders are now able to price short-term loans. In fact, currently there are over 20 million virtual savings accounts.
SOURCE: The East African
