Internet could add $ 300 b to African economies by 2025 – study
Monday, 25 November 2013 00:00
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Reuters: Africans spending time on the Internet could add $ 300 billion to the continent’s economy by 2025, a new study by consulting firm McKinsey & Co showed on Wednesday.
Only 16% of the one billion people in Africa are on the Internet, McKinsey estimates.
The sector could grow to at least 5 to 6% of GDP (gross domestic product) but if it follows the take-up rate set by mobile telephony in Africa, McKinsey reckons it could add 10%, or $ 300 billion, to African GDP by 2025.
The economies of Senegal and Kenya draw the most from the Web at 3.3 and 2.9% respectively, levels comparable to France and Germany. But South Africa and Morocco could emerge as the digital leaders, McKinsey said.
