Quotable: The Internet’s transformative potential in Africa

Financial Inclusion

Quotable: The Internet’s transformative potential in Africa

Internet use continues to skyrocket across Africa, driving economic growth. Image: McKinsey Global Institute.

A new report from the McKinsey Global Institute highlights the economic power of the Internet in Africa:

“By 2025, Africa’s iGDP (Internet contribution to overall GDP) should grow to at least 5 to 6 percent, matching that of leading economies such as Sweden, Taiwan, and the United Kingdom.”

“If the Internet achieves the same kind of scale and impact as the spread of mobile phones in Africa, iGDP could account for as much as 10 percent, or $300 billion, of total GDP while producing a leap forward in economic and social development.”

Read more about the McKinsey Global Institute’s findings about the Internet in Africa, or download the whole report, here.

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