• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home highlights

African economies projected to earn over $180 billion from the internet by 2025

4 years ago
in highlights, Home, home-news, latest News, Technology
2 min read
0 0
0
67
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

African economies projected to earn over $180 billion from the internet by 2025

Africa’s Internet economy has the potential to reach 5.2% of the continent’s gross domestic product (GDP) by 2025, contributing nearly $180 billion to its economy, according to a new report from Google and the International Finance Corporation (IFC).

According to the report titled e-Conomy Africa 2020 Report, the internet economy in Africa is bound to see exponential growth as a growing urban and mobile population brings tremendous potential to the economy.

Specifically, Google and IFC estimate that internet penetration is 40% today and a 10% increase in mobile Internet penetration can increase GDP per capita by 2.5% in Africa, compared with 2% globally. Increasing Internet penetration to 75% has the potential to create 44 million new jobs. The projected potential contribution could reach $712 billion by 2050, the report added.

Read This: SSA: Financial Stability Board review Covid-related policy challenges

Analysing the report, the Interim Managing Director, Executive Vice President and Chief Operating Officer of IFC, Stephanie von Friedeburg, said: “The digital economy can and should change the course of Africa’s history. This is an opportune moment to tap into the power of the continent tech startups for much-needed solutions to increase access to education, healthcare, and finance, as well as ensure a more resilient recovery, making Africa a world leader in digital innovation and beyond.”

“Digital startups in Africa are driving innovation in fast-growing sectors, including Fintech, Healthtech, media and entertainment, e-commerce, e-mobility, and e-logistics, contributing to Africa’s growing internet gross domestic product (iGDP), defined as the internet’s contribution to the GDP,” he added.

RelatedPosts

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

GSE Opens Week Higher as CPC Posts First Gain of 2025

Google Africa Director, Nitin Gajria, said: “Google and IFC have created this report to highlight the role the digital startup sector is playing and other factors to drive the continent’s growth in order to showcase and support the opportunities the continent presents.”

Some of the key findings from the 2020 report include:

  • Access to early-stage and pre-seed funding is still lacking across most of the continent. In a 2019 survey, 82% of African startups reported difficulties in accessing funding. Key issues include insufficient seed funding, limited follow-on funding, and a lack of angel investors.
  • Venture capital investment in Africa reached an all-time high in 2019, increasing year-on-year for the past five years reaching a record of $2.02 billion in equity funding raised in the last year, while the first half of 2020 closed with $493.5M of total funding.
  • Fintech startups remain the top destination for funding, receiving 54% of all startup investment in 2019 followed by e-Commerce.

Source: businessinsiderafrica
Via: norvanreports
Tags: AfricAfricaAfrica’s internet economy to cross $180 billion by 2025 - ReportghanaGoogleInternational Finance Corporation (IFC).Nigeria
No Result
View All Result

Highlights

Asante Gold Announces Completion of $500m Financing Package to Boost Bibiani and Chirano Growth Plans

Gov’t Pledges to Intensify Reforms in Gold Sector Ahead of Crucial Anti-Money Laundering Assessment

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

Trending

Features

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

August 26, 2025

Premier League: Ngumoha’s Late Goal Seals Liverpool's Thrilling Win Over Newcastle Liverpool triumphed 3-2 over Newcastle United...

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

August 26, 2025

GSE Opens Week Higher as CPC Posts First Gain of 2025

August 26, 2025

Asante Gold Announces Completion of $500m Financing Package to Boost Bibiani and Chirano Growth Plans

August 26, 2025

Gov’t Pledges to Intensify Reforms in Gold Sector Ahead of Crucial Anti-Money Laundering Assessment

August 26, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.