Internet could add $300bn to African economies
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 (20 November).
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.
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