By Hardeep Sound, Regional Sales Director: East Africa at SAP
NAIROBI, Kenya, September 1, 2021 -/African Media Agency(AMA)/- As East Africa recovers from the social and economic impact of the pandemic, could the region’s vibrant tech start-up ecosystem be a catalyst for accelerated growth?
Following a year of constrained growth – East Africa saw only meagre growth of 0.9% in 2020, compared to 6.6% in 2019 – economies across the region look poised to recover some lost ground.
According to the latest data, Kenya is expected to see growth of 6.3% in 2021, Ethiopia 4%, Uganda 3.7%, Rwanda 5.7% and Tanzania 5.2% in 2021.
While traditional sectors such as tourism took a heavy knock due to the lockdowns imposed as well as limits to international travel, the region’s tech sector proved resilient and could hold promising potential for accelerating the region’s economic recovery.
For example, mobile money, for which the region is considered a global leader, continued to…
Source: Guardian Newspaper