AfricaCom – Connecting the Next Billion
Exploring the key trends at this year's AfricaCom
After a two-year hiatus, AfricaCom finally made its in-person return this year in Cape Town from November 7-11, 2022. AfricaCom is Africa’s largest tech event, dedicated to educating and bringing together the investors, policy makers, tech experts, and business leaders that are pioneering Africa's digital transformation.
The theme of this year’s event, Connecting the Next Billion, was focused on uniting industry champions that are working together to connect the continent’s next billion internet users. Over 12,000 attendees gathered at the event for a productive week of exchanging knowledge, building new relationships, and learning more about Africa’s vibrant tech and telecoms landscape.
Jude Murray, our Corporate Development Associate attended the conference on behalf of Lumine Group along with some of our portfolio companies’ team members from NetEngage, MDS Global, and Sicap.
“It was great to be back to in-person events and be able to meet with new people,” said Jude. “This was an exciting opportunity to represent Lumine amongst the African markets as we look towards building our presence within the region.”
The prospects for network management and e-Sim management businesses are overly saturated in the traditional markets as the infrastructure in those regions has already been set up over the years. Africa serves as an untapped market with countless opportunities for growth in this space. As smaller players, companies understand that they cannot do everything by themselves and are looking to build relationships with wireless networks and telcos within the region to be able to compete with the already established larger tier-one businesses.
With the current market conditions, there is a strong shift in focus from investors to customer acquisition and companies have gone back to concentrating on the fundamentals. A lot of the businesses in African markets have great products but find it difficult to penetrate the broader market without having well-established supporting teams.
Lumine has a portfolio of 20+ businesses and a playbook of over 250+ best practices that guide communications & media software companies to strengthen and sustainability grow. Our ecosystem of businesses support one another and share resources to provide you the ability to grow and break through into potential markets. Our leaders and experts have grown and developed teams that were acquired and helped them enter markets that they have been unable to breakthrough to, in the past.
The African markets present endless opportunities for the telco industry as customers are eagerly demanding innovative services that have not yet reached their region. We see the immense potential within the region and are continuously looking for strategic opportunities with software companies.
Reach out to us if you think Lumine could be a fit for your business. Let’s discuss how Lumine can help your business achieve its unique objectives.