Africa: Digital Services Market Virtually Untapped with $2.2-Billion Potential
More than 90% of the market for digital services that support African smallholders remains untapped and could be worth more than €2 billion (US$2.26bn), according to a new report.
The study by CTA and Dalberg Advisors, found nearly 400 different digital agriculture solutions with 33 million registered farmers across sub-Saharan Africa.
But the current digitalisation for agriculture (D4Ag) market was likely to be the tip of the iceberg with a penetration of just 6% and turnover of estimated €127 million (US$143m) out of a total addressable market of 2.3 billion (US$2.6bn).
The Digitalisation of African Agriculture Report 2018-2019 found an annual growth of more than 40% for both the number of registered farmers and the number of digital solutions suggesting the D4Ag market in Africa is likely to reach the majority of the region’s farmers by 2030.
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