As part of its support for digital transformation in Africa, Proparco has just acquired a US$ 5 million stake in TLCOM TIDE AFRICA FUND, which will provide financing for young innovative businesses in Sub-Saharan Africa. These start-ups will leverage new technology to improve access to essential services.
Harnessing technology to sustainable development
Although the penetration rate for SIM cards across Africa is similar to that for Western Europe (i.e., 70% vs. 83%), access rates for basic services in Africa still lag far behind. For example, rates of electrification or access to healthcare or banking facilities are under 31% in Africa while they exceed 90% in Western Europe.
With over 600 million smartphone users forecast in Africa by 2020, mobile phones have become key vectors in development that can help in unlocking access to basic goods and services (i.e., energy, healthcare, education, transport, and everyday consumer goods).
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