Kevin Nyango
Majority of the world’s youngest and working age is from Africa and it is estimated that by 2035 they will hit 1.1 billion. The figure will exceed that of China and India. Currently, Africa has 300 million middle-class population and it’s estimated that by 2030 the figure will hit 500 million. The figures indicate that Africa as a continent will have the largest spending power globally. Twenty years ago, India and Brazil were where Africa is currently ranked. The early 1980s data from China resemble the current state of Africa.
By 2025, it’s projected that Africa’s economy will hit $3.5 trillion since economic experts estimate that for the next decade or two; the continent will experience a phenomenal growth. Sagarmatha Technologies has recorded an increase in sales for the past few months as articulated by Business Report. It’s a technological market that is owned by integrated group which has witnessed breakthrough in syndicated news and business content, e-commerce, digital media and technology ventures.
Jim Rogers, the co-founder of the Quantum Fund whom the Business Report interviewed said that for Africa to attain Fourth Industrial Revolution and there was need of companies like Sagarmatha which improve the e-commerce. He also said that Africa will outstrip economies following the trend that China had set 20 years ago. Naspers paid $34 for sagarmatha’s stakes which are worth $170billion .
Africa has many tech gurus but the challenge is that Africans never own most of these platforms hence they are controlled by foreigners. They may not own technology startups to compete with global tech giants like Google and Facebook but it now calls upon Silicon Africa to fully participate in ensuring it attains the next level of development.
Paul Lamontagne, the chief executive of Sagarmatha also expressed his concern saying that Africa should stop allowing the world’s most powerful technology companies to control e-commerce and manage information and if changes occur, billions of Africans will benefit. He further said that the media should be the voice of Africans so that they are exposed to equal opportunity to access the universal source of intelligence. He challenged Africans to move out of their comfort zones and strive to earn seats at the round table of digital platform. Africans would need to be united and strategize on the next revolution.
