Knowing the context of different countries in the region, we can see that the continent is still full of asymmetries, and the same occurs looking at the companies operating in the market, we have some, that are effectively breaking ground, with cutting edge solutions and technology, while most are tentatively trying their way into digitisation.
In this context, I believe that there will be some continuity with the current tendencies, albeit pushed forward and accelerated by the circumstances brought forward by the COVID-19 pandemic.
2020 was a fruitful year for Data privacy and protection initiatives, in different countries across the continent the legislation is already approved or in the process of being approved. This is an ongoing process, and adding up to the crescent awareness of consumers, and the risks of compliance fines, will drive companies, the make the necessary changes to comply.
We will be witnessing a serious increase in the number of companies that will now push for digital transformation processes. Although the bigger companies have already made this path, there will be, what might be called, a second wave. These processes will move in different directions, either in rebuilding or creating their analytical structures or investing in new digital channels.
The growth of cloud environments, it has been somehow impaired, by legal constraints in most of the countries, that don’t allow data to be stored outside their countries. These constraints are being removed by the vendors, through investments made in local infrastructures. Connected with the strong effort in the digitization processes, we will witness a growth in cloud implementations.
Insuretech and Agrotech
The technological drivers for development were traditionally the telcos and banking industries, deriving from the growth the had over the last few years. Right now, we are witnessing other industries trying to push this process. The cases of insurance and agriculture seem to be the two that will start showing new solutions and business approaches during next year.
Originally published in Africa Business Communities.