Accelerants for Growth in Africa: Cell Phones and Banking

This is the eBook version of the printed book.

This Element is an excerpt from Africa Rising: How 900 Million African Consumers Offer More Than You Think (9780132339421) by Vijay Mahajan. Available in print and digital formats.

Discover Africa, the world’s fastest-growing cellphone market—and learn how those cellphones are creating a foundation for breakthrough growth.

There are now more than 130 million Africans with cell phone subscriptions, and it is the fastest growing mobile phone market in the world. A 2007 study by the Africa Media Development Initiative found that cell phones were achieving a compound annual growth rate of 85 percent or more in 10 of the 17 African nations surveyed…