
Africa’s economic reset requires moving from ambition to execution
The Africa Commerce Convergence Summit keynote address identified four elements that must converge if the continent is to achieve a meaningful economic reset.
MOBILE CONNECTIVITY
By our African Marketing Confederation News Team | 2024
This connectivity is also enhancing internet penetration. Mobile money adoption, for example, has risen notably.
In 2024, mobile penetration in Tanzania has increased and there are approximately 67.7–million mobile connections – accounted for 99% of the total population.
Photo: Neil Palmer for CIAT, via Wikimedia Commons
This marks a significant rise from the previous year, when there were 57.42-million mobile connections, amounting to 86.4% of the population.
However, accurately assessing mobile penetration remains challenging due to the prevalence of multiple-SIM usage, as highlighted in the ‘Mobile Phone and App Usage in Africa Survey’.
Importantly, mobile connectivity enables greater internet penetration. Mobile technology, including services like Vodacom’s M-Pesa and Tigo Pesa, has revolutionised the finance, education and healthcare sectors.
Tanzania positioned to harness benefits of Fourth Industrial Revolution
In a blog post published last week, Newton Adika, Digital Marketing Specialist at market research firm Geopoll, says this means Tanzania is well-positioned to harness the benefits of the Fourth Industrial Revolution for inclusive growth and sustainable development.
The growing tech startup ecosystem, supported by incubators and accelerators, drives economic development and job creation.
“Industry reports show that Tanzania has experienced a significant increase in mobile internet adoption in recent years,” Adika writes in the blog post.
“As of February 2024, approximately 81% of mobile connections in Tanzania were broadband, ranging from 3G to 5G. This represents an increase from 60% in the previous year, indicating a continuing upward trend.”
Looking specifically at the mobile banking sector, Adika says mobile money adoption in Tanzania increased from 60% in 2017 to 72% in 2023, according to the ‘FinScope Tanzania 2023’ report.
However, the country is still trailing behind regional neighbours such as Kenya and Uganda in adopting mobile money for airtime purchases, for example.
You can read the full blog post here.

The Africa Commerce Convergence Summit keynote address identified four elements that must converge if the continent is to achieve a meaningful economic reset.

Vongani Mageza brings more than 20 years’ experience across financial services and FMCG) companies such as FNB and Diageo.

AI agents will influence shopping, algorithms will supersede social connections, and the clip economy will change how brands connect.

The brand partnership includes a new TV commercial featuring Kipchoge, digital storytelling, wellness initiatives and community programmes.

Modern retail in Africa is still dwarfed by the traditional trade. Marketers who dismiss this relationship-heavy retail model do so at their peril.

Research finds brands don’t just sell products. They can also provide employees with stories through which they feel their work is meaningful

Honesty must be demonstrated through transparency, accountability and action – shaping both reputation and future trust following a crisis.

In the funeral plan category, where most advertisements look like an obituary, Standard Lesotho Bank opted to ‘sell the cow’, not the policy.

Strategic Marketing for Africa, the publication for deep-thinking African marketing professionals, is not to be missed.

CEO of Scopen says the expansion into East Africa is a natural progression following the success of the research in South Africa.

Report says around 80% of Africa’s annual goods export potential to the Caribbean remains untapped.