The world economic power is shifting to Africa because Africa has so many resources the world can’t ignore us. Over the past two decades, Africa has been growing exponentially technology-wise, the major problems that retard Africans development, economically affecting the standard of living are steadily improving. These problems include access to electricity, access to potable water, transportation, Education, and other relative amenities. But we can say over the past two decades these problems are getting behind us. Africa is a great continent that consists of 54 countries and over 1.3 billion population. Among these 54 countries, 38% of the world’s fastest-growing economies in the world since 2012 have emerged from Africa. The last year 2019, the fastest growing economies in the world ranked Ethiopia first and Ghana on the 15th all from Africa.
Unquestionably, Africa is in its transition to the advancement and it is too big to be ignored now by the rest of the world. Countries like China, USA, Russia are investing big in Africa over the past two decades and strengthening their relationship with Africa. Not forgetting other countries all over Europe, Tech companies, and FinTech start-up from the western world moving to Africa to start big projects and a lot of investments coming in. Africa is somehow influencing the rest of the world now.
Education in Africa influences our lives to the extent that it influences how we live and the decisions that come with our lives and for the past two decades, the rate at which people are getting access to education has increased exponentially. For example, education has a strong influence on our population growth in Africa. Education influences the fertility rate in Africa. Highly educated females are less likely to have plenty of children they cannot afford to take care of, while, on the other hand, Uneducated females have more children regardless of considering the fact that, they cannot afford to take care of the children. Also, female education in Africa reduces teenage pregnancy and for males, it gives them a new life that will make them focus on education than going wayward against their moral upbringing. This above elaboration gets down to the point that education in Africa is steering our future in the right direction as our future keeps on getting brighter.
Also, technology consumption in Africa is growing and unlike other continents, Africa is always open for business and it has the virtue of hospitality, embracing foreigners who visit either for tourism or business and learning from them. As of now with current statistics, access to internet is also growing in Africa and over 40% of Africans now have access to the internet. Because of this, digital entrepreneurs are also growing in Africa, making good use of the internet and earning living with what they do with it. Tech consumption in Africa is growing so fast to the extent that, big tech companies like SpaceX, Google, Microsoft, and many more have started big projects in Africa projecting that Africa will take over the rest of the world in the years ahead. And with Africa having the cheapest labor compared to the rest of the world, big tech companies all over the world are considering starting projects here or moving here. And the western world is investing big in Africa infrastructure. Countries like China have been putting up big infrastructure projects in Africa including the African Union headquarters in Ethiopia Adisa baba and almost owns almost all railway companies in Africa.
Over the past two decades, the world is eying Africa, bringing new projects and investing big in Africa. Introducing us to new business models we never had in Africa and now we are getting access to western business models. A lot of futuristic economists even say that Africa could be the next china considering how the rest of the world are focusing major investment here. And unlike the rest of the advance world where the cost of labor and manufacturing is getting expensive killing their companies, Africa is considered to have the most cheapest labor in the whole world and for that, countries like China are moving a lot of their manufacturing companies to Africa not only are we going to get a chance for our people to get employed there but we also get to learn and experience new stuff.
Crypto Adoption In Africa
Over the past 12 months on google trends, Africa has been leading on google searches on Bitcoin worldwide. Ranking Nigeria first, Ghana second and South Africa fourth with most of the Sub-saharan countries and eastern African countries falling within the top 30 worldwide.I can say this speaks so much for itself and the rest of the crypto world will agree to the fact that this signals the growth of crypto adoption in Africa and hopefully we are taking over adoption. Over the past five years, we have seen most Blockchain and crypto start-ups in Africa and people are working so hard to put Africa on top to compete among the western countries that influence crypto adoption and its related businesses.
Over the past 5years in crypto I have watched and observe Africa evolve in crypto-related businesses. This is more than just Africans embracing crypto, this runs through our society wanting to digitize our way of living and going cashless with our way of handling money. Digital entrepreneurs have increased over the past two decades in Africa and the internet has made everybody an entrepreneur making access cryptocurrencies easy because of the use of the internet. Before 2017, crypto adoption in Africa compared to the rest of the world, crypto entrepreneurs were lesser. Before then it was even difficult to exchange cryptocurrency for cash and you have to rely on just some few trusted companies like Remitano and some other Nigerian exchangers. After the 2017 bull run, most of the youth in sub-Saharan Africa became crypto entrepreneurs. And in the history of Africa, crypto has created more employment since 2015 in the crypto dominated sub-Saharan countries more than the government could ever do. Cryptocurrencies and Blockchain technology have given most African youth hope, has help provide food on their families, elevated people from their poor standard of living, and given them success. In hope we all believe it will help Africa redistribute the world’s wealth and liberate us from modern slavery(debt).
Despite cryptocurrencies having bad publicity in Africa and most governments regulations sanctioning against cryptocurrency related business, the adoption in the Sub-Saharan Africa continues to grow and we are hoping to see the rest of Africa embracing crypto and we taking over the rest of the world.
Not only are people embracing cryptocurrency in Africa, most African youth believes it creates transparency and provide a trustless environment where people can interact with convenience in all other business models and as well fight corruption in Africa.