Africa is changing faster than many realize, and there is definite momentum for economic reform and development — similar to trends in both India and China.
The best example of that momentum is in telecommunications, said longtime investment banker Thomas Gibian, speaking to the Seventh Biennial U.S.-Africa Business Summit in Washington on September 30.
There are approximately 390 million cell phone subscribers presently in Africa, with the rate of growth for the entire continent at more than 58 percent per year.
Gibian predicted that the next “game-changer” for Africa will be affordable high-speed Internet coming around both coasts, a change that is also already under way.
Photo courtesy of Sun Star