Africa Could Be the Next Big Market for Silicon Valley

Africa Could Be the Next Big Market for Silicon Valley
The Siliconreview
16 July, 2018

Silicon Valley is currently seeking a partnership with an African City called Lagos. The city is considered to be a new hub for tech. It is also famous for its beach resorts, nightlife, and boutiques. Not to mention, the national museum of Lagos and various public events happening at different intervals. Currently, it is the Nigerian’s burgeoning tech scene that is really attracting interests of various tech giants. The most fascinating thing about this regions’ tech is the young Africans market who are working on it.

The proof of tech giants’ interest was clearly shown when both Facebook and Google launched its initiatives in May. Google also mentioned that it would open Africa’s first ever Artificial Intelligence lab in Accra, Ghana. This news was released last month and the key factors are the demographics where Africa’s population is estimated to be 1.2 billion, 60 percent of the entire population is below the age of 24. This shows the quality of human resource present in the region and eventually, the UN expects the population to jump to 2.4 billion by 2050. A clear double-jump and hence tech giants are planning to utilize this opportunity to the fullest.

For now, Facebook is operating from NG-Hub and is yet to have a permanent office in Nigeria. The social network has plans on training 50,000 people across the country in order to provide relevant digital skills to improve both quality and quantity. Let us see how things turn out in the future.