CSC signs MoU on establishing Saudi-Greek Business Council    Eng. Al-Falih starts Greece visit with aim of strengthening investment relations    Photo exhibition on march of Saudi Arabia's kings, urban development opened    Tourism Ministry highlights investment opportunities in AHIC    EU calls for quick resumption of Iran nuclear talks    French ambassador to return to Washington after Macron-Biden talks    A peep into diverse manifestations of National Day festivities during 56 years    Afghanistan's healthcare system on brink of collapse, as hunger hits 95 percent of families    Saudis, expats mourn death of prominent Filipino preacher in Riyadh    The Crown Prince's keenness to develop citizens' capabilities    Joe Biden plays down chances of UK-US trade deal    Saudi Arabia observes Alzheimer's Day with rest of world    Sex and the City star Willie Garson dies aged 57    Saudi exports increase 79.6% in July    Workshop organized with investors from German companies in Riyadh    John Lennon stamps inspiring message of peace, on UN's big week    Al Burj, Chinar, CSG, Kashmir Stags, ARM, Pak Zalmi record big wins in Kanoo League    Four million Indians suffer from obstructive sleep apnea, conference told    Saudi International, Asian Tour confirm historic partnership    Boxer Pacquiao to run for Philippine president in 2022    Saudi Arabia to host Youth Weightlifting World Championships    Bollywood actor Sidharth Shukla dies at 40    Custodian of the Two Holy Mosques Directs KSrelief to Urgently Provide Malaysia with Medical, Preventive Equipment and Supplies to Address COVID-19 Pandemic    Custodian of the Two Holy Mosques Congratulates President of Maldives on Independence Day    Weather Forecast for Sunday    RSNF Commander Patronizes Ceremonial Launching of His Majesty's Ship "Jazan"    OIC Condemns Houthi Attempts to Target Civilians in Saudi Arabia    Philippines evacuates thousands as monsoon rains flood cities, provinces    Heavy rain in India triggers floods, landslides; at least 125 dead    U.S. Records 64,321 New Infections of Coronavirus    Without Fans, Tokyo Olympics Kicked Off    Pilgrims Perform Dhuhr and Asr Prayers at Arafat Holy Site    Dr. Mohammed Sulaiman Al-Jasser, Saudi Arabia's Pick to Chair IsDB Group for the next five years, unanimously approved by BoG Committee of Procedures    Saudi Press: Fitch affirms Saudi Credit Rating at "A" with a revised outlook to stable from negative    Handled Cargo at Saudi Ports Increases during June 2021    SDAIA, DARP & STC Launch Pilgrim's Smart Bracelet (NUSK)    Tabuk sculptor spends 8 years in carving entire Holy Qur'an on 30 marble slabs    2 Goals by Diaz Gives Colombia 3rd Place at Copa America    Legendary actor Dilip Kumar, 98, passes away, and with him an era    Saudi Cinema Night at Arab World Institute in Paris Kicks Off    KSU Leads Joint International Scientific Project for Early Detection of Breast Cancer    Saudi Arabia to Participate in Cannes Film Festival 2021    Arab Cup U-17 Championship Draw Saudi Arabia, Morocco, Palestine, Kuwait, in the 1st Group    AWI Hosts Saudi Cinema Nights in Paris    Brazil Beats Chile at Copa America Despite 2nd-Half Red Card    Council of Senior Scholars: Muslim Brothers' Group Don't Represent Method of Islam, rather only Follows its Partisan Objectives, Violating our Graceful Religion    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Africa set to become ICT investment destination
Published in The Saudi Gazette on 17 - 10 - 2012

AFRICA is set become one of the Information and Communications Technology (ICT) investment opportunities of the decade, according to leading industry experts. Keen to explore this emerging market and promote its significant ICT opportunities for global and Middle East-based companies, Gitex Technology Week is putting its most prominent spotlight yet on the continent. Gitex Technology is running until Oct. 18 at Dubai World Trade Centre.
This year, Gitex has seen a 23 percent increase in exhibitors from countries like Algeria, Egypt, Libya, Morocco, Nigeria and South Africa. Strong trade delegations are also present from countries like Zambia, Kenya, Nigeria, Rwanda, Uganda, Tanzania, South Africa, Lesotho, Tunisia, Algeria and Morocco.
“We see Gitex as the ideal opportunity to foster business links between Middle East and African companies. Now, given the new geopolitical situation, countries like Tunisia, Morocco and Egypt are looking for new markets and new opportunities, and Dubai is now the most important place to look for partners and promote events and products. For us, and our delegates, Gitex is where we will find what we're looking for in the ICT sector,” said Chihab Bargaoui, Business Development and Relationship Manager with Sfax International Fair Association, a part government-backed exhibition organizer in Tunisia.
Gitex “Africa in Focus” highlight comes at a time when significant regional investor buzz is moving from the BRIC (Brazil, Russia, India and China) nations to also encompass the emerging continent, particularly potential economic powerhouses such as Nigeria, which features the largest African population, as well as notable natural resources such as gold and oil to aid its growth.
Africa's ICT sector has flourished in recent years and is predicted by IT market intelligence specialists International Data Corporation (IDC) to grow nearly 13 percent year on year in 2012.
Anticipating this prospect, Gitex will provide the opportunity to broaden existing links and develop new partnerships in the ICT sector between Africa and the Middle East. According to DHL, South Africa is the UAE's 13th most important market for non-oil exports, while Dubai Exports notes that total exports and re-exports from Dubai to South Africa alone valued at $408 million in 2011. Trade between Africa and Dubai had previously registered steady growth as more and more African countries continue to adopt free trade policies, and recognize Dubai's position as an international trading hub.
Furthermore, there is encouragement to be had from surging mobile adoption growth rates across sub-Saharan Africa. Research by the Arab Advisors Group indicates that a compound annual growth rate (CAGR) of 14 percent by the end of 2016 can be expected across the Democratic republic of Congo, Ethiopia, Ghana, Ivory Coast, Madagascar, Mozambique, Senegal, Tanzania, Zambia and Zimbabwe.
The total shared increase equates to around 121 million new subscriptions in the regions. Total cellular revenue, which reached $9 billion in 2011, is expected to grow at a 10 percent CAGR. Underpinning this encouraging trend, the International Monetary Fund predicts Sub-Saharan Africa's economy to grow by 5.5 percent in 2012, owing in part to a fast-growing and brand-savvy middle class. – SG


Clic here to read the story from its source.