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Forbes Africa

‘THAT'S DISRUPTION, THAT'S POWER, THAT'S INCLUSION’

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PHOTOS BY AJEESH LOTUS

CEO STRATEGIES

Growth outlook for Africa

If you [look at] macroeconomics, it's no longer one or two countries driving the continent's growth. That versatility has started to come through, which they didn't have earlier. The continent is currently growing at about 3.5% and that will go up… The governments in Africa realize the economies have to transform into digital economies, and there's a tectonic shift taking place [in sectors] from manufacturing to services. The continent [will continue to] leapfrog into new tech, not just in payments; it will do well in tourism too, and the SME sector.

[Besides talk on] inclusion, I think access is also most important. So, if I get included, what access do I have to funding, better services, convenience and affordable products? Mobile money is big in Africa, but if you really look at the core – and I don't think the continent is fully covered in terms of internet and mobile penetration – the per capita cost of providing these services in Africa is higher than the rest of the world. I think there are too many closed loop ecosystems that exist in Africa. You need to have open borders and open economies. And the scale will never happen in a single country. The scale can happen, and that's why the versatility of having

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