Connecting Africa

Crystal Orderson highlights how the continent has increased its ICT sector and how investment can further its growth.

Information and Communication Technology (ICT) refers to the various forms of technology that we use to create, share, store, or exchange information. This includes the internet, radio, tv, mobile devices, and many more. Africa faces many challenges in developing ICT since much of the population resides in rural areas alongside the high cost of internet access an equipment.

Despite this, ICT throughout Africa has gone through an impressive evolution over the past few years.

To unpack Africa’s progress around ICT, Bongani Bingwa spoke to Crystal Orderson, a seasoned journalist specializing in African content. This forms part of the new Africa Focus series presented by RMB. The weekly series aims to highlight Africa’s innovations and potential growth while answering key economic questions.

The ICT sector has substantial capital requirements, says Orderson. To ensure that progress is made, investment from both the private sector and mobile companies is needed.

“A few years ago, one would say Africa has been excluded [from ICT], but over the past few years, it’s changed.”

“Sub-saharan African accounts for nearly 70% of the one trillion transactions of mobile money. And this has made people that would’ve been excluded from the banking sector now able to simply send money.”

Orderson touches on the impact that MTN has had on the continent and how the network is a prime example for other South African businesses to look up to.

“There’s something patriotic when you arrive in Guinea-Bissau, Nigeria or Ghana and you see the MTN yellow. MTN is your ideal African case study of a mobile company from down in South Africa growing into the continent.”

Zambia's progress within ICT has also been interesting, says Orderson. She explains how the country's new government has made efforts to grow investment in their ICT sector, giving the minister more investment.

“In addition, the minister announced that they’ve scrapped, and zero-rated the importation of telecom equipment, masks, etc. to ensure and attract further investment.”

RMB has financed key projects in Africa and continues to fund Telecommunication and Technology as an enabler of economic growth in Africa. Their experienced Telecommunications, Media, and Technology team offers corporate banking, investment banking, and financial risk solutions to clients in the sector.

This year, RMB in Nigeria facilitated two landmark deals for MTN Nigeria. One where they acted as joint issuing house and bookrunner and another where they acted as adviser, joint issuing house and bookrunner on these transactions.