The world’s next and largest digital economy will see its tech investments scale from $115 billion to $712 billion by 2050, analysts predict. The inaugural edition of GITEX AFRICA aims to bring together technology leaders, governments, startups, investors and global innovation hubs to accelerate, collaborate and explore. In short, to accelerate the growth of the next biggest digital economy.
By Dounia Ben Mohamed, in Marrakech
The first edition of GITEX Africa 2023, the biggest technology and startup expo on the African continent, will take place from May 31 to June 2. It is expected to bring together 500-plus policymakers, heads of government, investors and academics. It’s a historic launch in the world’s next biggest digital economy.
The continent’s tech sector will grow from $115 billion to $712 billion over the next 25 years, analysts predict, while according to Briter Bridges, African startups will have raised a total of $5.4 billion from over 900 deals by 2022. Meanwhile, Africa’s young population and rapid urbanization are accelerating the growth of the digital economy, with 70% of sub-Saharan Africa’s population under the age of 30 and 45% of Africans expected to live in cities by 2025. At a time when the African Union is committed to unifying the continent into a single secure digital market by 2030, GITEX Africa must bring together local and international stakeholders to accelerate Africa’s digital transformation.
More than 250 hosted investors from 34 countries with $200 billion worth of assets under management will also seek breakthrough technologies and potential co-investment opportunities in African technology
Guests at the event include more than 250 investors from 34 countries with US$200 billion worth of assets under management will also seek breakthrough technologies and potential African tech scale-up co-investment opportunities. “As the ultimate startup incubator and magnet for flourishing VC funds, GITEX Africa will deliver an unmatched scouting platform for these investors, of which 70 percent are coming from outside of Africa,” say the organizers.
This is not a first for them. GITEX GLOBAL, which is spearheading the initiative, has 42 years of experience connecting technology leaders, governments, startups, investors and global innovation hubs to accelerate, collaborate and explore a new journey in the world’s emerging technology continent. While its annual mega-event is traditionally held in Dubai, this time it’s being held in the tourist city of Marrakech, organized in partnership with the Agency for Digital Development (ADD), the public entity leading the Moroccan government’s digital transformation agenda, in collaboration with KAOUN International, the overseas events company of Dubai World Trade Centre (DWTC), which is leading the partnership for this highly anticipated technology showcase.
Intra-governmental cooperation is key enabler of digital services adoption and acceleration, while mitigating these associated challenges across the African continent
“The lack of connectivity in remote and rural regions along with insufficient data protection and high cost of African connectivity have brought new challenges to businesses, governments, and people,” said Lacina Koné, the Director General and CEO of Smart Africa, which also held its annual Transform Africa conference in Zimbabwe at the end of April. That meeting which ended with the slogan: “Intra-governmental cooperation is the key enabler of digital services adoption and acceleration, while mitigating these associated challenges across the African continent.”
Generative AI, finance, infrastructure development and investment are among core theme explorations at Africa’s most impactful leadership conference program. “The societal impact of AI is multifaceted and far-reaching globally, and it is already reshaping sectors, such as healthcare, finance, agriculture, education, and manufacturing and therefore the way we live,” said Dr. Alsharji, CEO of UAE-based Presight, who will be attending the event.
“The African continent is showing a speedy AI adoption rate and a readiness to explore and harness the potential of AI for driving economic growth and addressing local challenges, ultimately benefiting the greater good of people. As AI advances, we can anticipate further innovation and positive applications. It is crucial, however, to embrace AI responsibly; ensuring ethical considerations are in place as we navigate this transformative landscape.”
Adapting and adopting technology is one of the challenges of the continent’s digital transformation. A selection of emerging technologies from fintech, e-commerce, cloud, IoT, AI, telecommunications and cybersecurity will be showcased at the forum. A showcase of African made innovation. GITEX Africa 2023 has also partnered with North Star, the world’s largest start-up event, to deliver North Star Africa, converging more than 400 start-ups – including 100 Moroccan start-ups – from across the globe to extend engagements, build connections, and scale imaginations in an African tech ecosystem where investment reached US$6.5 billion in 2022.
A showcase for Morocco’s digital ecosystem
It’s also a fantastic opportunity for Morocco, which has embarked on a digitalization strategy that is bearing fruit. “The potential for tech on the continent of Africa is limitless and the time for action is now,” added Mohammed Drissi Melyani, General Director of the Agency for Digital Development (ADD). “As the catalyst for Morocco’s digital transformation, ADD is involved to promote innovation in many sectors and to push all the involved partners of the ecosystem to ensure Smart digital transition.”
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