Report: Africa is the fastest growing mobile market
A new report released earlier this week by London-based Informa Telecoms and Media shows that Africa’s mobile subscriptions will hit 761 million by the end of next month, making the continent once again the fastest growing market in the world. The number of Africa’s mobile subscriptions will reach 761 million this year, making the continent once again the fastest growing market in the world, a research group has claimed. This encouraging trend is being driven by the Africa’s robust economic growth and an increasingly competitive marketplace the number of subscriptions in Africa is set to hit one billion in the next three years. The continent’s biggest mobile market Nigeria, with 100 million subscriptions and is set to rise to 169 million.
The report forecasts that African market will have grown 18 percent by the end of 2013, against the world average of 11 percent. Africa’s mobile market is expected to grow robustly, driven by competition among mobile operators, the availability of new data services and strong economic growth on the continent. There are substantial opportunities for further growth remain, because the rate of mobile penetration in Africa is the lowest among major world regions and fixed networks are under-developed or absent across much of the continent. Africa is currently the world’s second largest mobile market after Asia although the penetration is 68 percent compared to world average of 91 percent but forecasts 1.13 billion subscriptions by the end of 2017 which will be more than 90 percent penetration.