Why companies like Microsoft and Google are betting big on Africa
When Jack Dorsey, co-founder of Twitter and Square, announced he was going to live in Africa for a few months, it raised a few eyebrows on Wall Street.
Dorsey’s potential move to Africa is one of the reasons why Paul Singer, billionaire investor and founder of Elliott Management, wants to remove Dorsey from his job as Twitter CEO. Dorsey now might reconsider his trip to Africa because of coronavirus concerns.
Tech companies have consistently looked to China and India — not Africa — for growth.
But that’s beginning to change. Africa now has more than 600 active technology hubs, with facilities and support for tech and digital entrepreneurs. That’s up from 442 in 2018. And its population is expected to explode to 4.3 billion by the year 2100, according to the United Nations and the Pew Research Center.
And big tech companies such as Twitter, Google and Microsoft have begun to take notice. Watch the above video to see why Africa is well on its way to a technology boom.