Driven by increasing industrialisation and the proliferation of free markets, Africa’s development can be seen via the move away from labour intensive economies to ones which largely rest on telecommunications, banking and retail. Although the African growth story is far from homogeneous, it mostly appears that the continent’s prospects for the future largely depend on investment in technology.
Factors such as the declining cost of high-speed internet, the rise of smartphone use across the continent, innovations in banking and payments technology and the increasing availability of early stage investment funding will all play major roles in the development of Africa.
Mobile phones are also transforming both banking and payments across Africa. With many across the continent lacking bank accounts, innovations which allow individuals to transfer money via their mobiles could potentially boost the growth of countless startups, as their customers demand safer and more affordable ways to transfer money and pay for products.
INGRACE PROJECTS (Pty) Ltd is involved in the Information Technology sector through: crafting websites for individuals and businesses, providing innovative Value-Added Services to mobile phone operators, facilitating the market penetration of state-of-art IT solutions in all sectors of the economy on the African continent.