Africa is one of the largest continents in the world where it is the home to 54 sovereign states. Though it has been regarded as the poorest continent, there are some growing economies in Africa. As the economy transform from the margins to the mainstream of the global economy, technology is playing its part as the main player in the transition. The key that supports the rising and rapid development of the regional business, investment and modernization, is the emergence of technology where entrepreneurs, tech ventures and innovation centers are coming from country to country. As of now, Africa has become a hotbed for business start-ups.
Notable as it has become, Africa’s external financial flows have remained stable overall. The country is politically stable and has a well-capitalised banking system, abundant natural resources, well-developed regulatory systems as well as research and development capabilities, and an established manufacturing base.
Looking at Africa, Mauritius is by far the richest nation on a per capita basis with $21,700 averaged per person. South Africa ranks second with $10,300, and is closely followed by Namibia with $10,200. On a wealth per capita basis, the fastest growing countries in Africa during the past 15 years (2000 – 2015) are Angola and Ghana. Africa’s economic pulse has quickened, infusing the continent with a new commercial vibrancy. The nation’s long-term growth will increasingly portray and create new domestic engines of growth.