Here’s what we think about Oluwatosin Ogunjuyigbe’s : Tech Trends that will affect African Businesses in 2023
According to Oluwatosin, Africa has garnered global interest as a growth market not only because of the continent’s huge landmass and young population but also because its technological growth makes it highly prospective. I agree with Oluwatosin’s point of view.
He says that although technological advancement in Africa is positive, it also translates to disruptions that affect existing businesses.
The 2020 pandemic birthed a lot of technological disruptions. Oluwatosin believes that the rise of video conferencing and productivity apps have made remote work easier, thus reducing the demand for office spaces among startups.
According to Oluwatosin, some of the trends that will disrupt African businesses in 2022 that we believe would still be relevant to 2023 include:
The rise of Telemedicine
The pandemic has forced traditional healthcare providers to change their models and adopt new tech products, consequently creating opportunities in the industry. Companies now use tech-enabled solutions to change the distribution of health products. Also, e-commerce giants such as Jumia, Konga, and Copia have all, started selling over-the-counter health products.
In his article, he says that the real estate industry is one of the oldest business industries in history. This sector lacks transformation and is due for a facelift. To this end, Proptech startups are emerging to challenge orthodox thinking in the property space.
Last year, African Proptech startups became more prominent. Nigeria’s Rent Small Small became the first African prop-tech startup to join Techstars Accelerator, Canada.
Blockchain meets art and music
Blockchain technology has come with many benefits, one of those benefits is NFTs ownership alongside high profit-making.
Through NFTs, blockchain technology is influencing the business of arts and music.
Higher Internet Usage
He says that one contributing factor to the internet economy is urban growth.
Tech giants such as Facebook and Google are building large cable networks to increase internet penetration which will help businesses’ visibility on the internet.
Agriculture is big business in Africa, accounting for 14% of GDP in sub-Saharan Africa. But it still has much-untapped potential because of a large percentage of smallholder farmers. Because of this, AgriTech startups are rising to solve these problems and fill in the gaps between small-scale farmers and their consumers
Innovative startups like Releaf and Hello Tractor secured investments last year and are disrupting the Agric business.
Oluwatosin highlights important technological aspects that have promising prospects that startups/business owners should consider venturing into in 2022.
I agree with the writer’s viewpoint, though this is not static as the business world is ever-changing. Startups should be ready to move with the times and know what the market really needs, and what solution their product gives to consumers.
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