Mayfair 101 founder and managing director James Mawhinney sees investment potential in Africa.
African markets are starting to experience a technology boom, which is compounded by a massive population.
“Africa has the potential as it’s become its own powerhouse in the future, with smaller countries that combined have large population growth,” said Mr Mawhinney.
He made particular note about South Africa and that mobile technology is starting to take off.
Parallel patterns
There are similar patterns of opportunity in the African market as there are in the Indian market.
India’s boom is being driven by high population, emergence of the internet and a disconnected country becoming more connected to its neighbours and overseas markets.
“The opportunity that exists for technology and fintech to obtain a lot of market share very quickly and a lot of that is because of [improved] internet connectivity,” said Mr Mawhinney.
The second key reason is demonetisation – the removal of certain currency out of circulation – as the countries move towards being cashless, it forces transactions to take place through mobile devices and the internet in general,” Mr Mawhinney added.
About the author
