Today, the African continent is experiencing ground-breaking changes in both fields – technology and sports. That is why there is an unforeseen rise in sports tech development initiated by relevant startups. Emerging entrepreneurs keep investing in the industry while African countries are expecting a new era of sports.
In this article, we will discuss how Africa is being shaped by technology in the sports realm. Among other influencing and developing industries, online sports gambling is becoming increasingly popular, so feel free to check out the jackpot casino south africa link to have a better image in this regard.
African Tech Investment and Its Status-Quo
Tech companies are facing a major breakthrough in terms of their fast-growing investment. In 2019, this category was considered to have the highest total capital amounting to approximately $2 billion. However small the figure may seem in comparison to other more developed countries, this variable is significantly higher than in previous years. Later on, that number doubled to about $5 billion while the total number remains unknown, yet the African tech industry is claimed to be on the pinnacle of its long-running development.
The Rise of African NBA Investment
Last year, it was announced that Africa would face the NBA business operation, which includes new partnership connections, media and content development, as well as tools for supporting local governments seeking to expand horizons of the sport. Therefore, basketball is anticipated to be the most viewed sports in African countries within the following decade.
In a CNBC report, Jabari Young claims that the first investment sums might amount to $1 billion, especially given the fact that large-scale investors such as Forest Whittaker, Barack Obama, Joakim Noah, and Loul Deng will have their say in it and are planning to make a contribution to the long-term sustainable growth.
Associated Risks
Even though the current numbers are highly promising, there are still a few factors to take into account before jumping to conclusions.
One report from The Generalist highlights two main things to be aware of when it comes to the African economy. The first is that Africa is not properly united. In a nutshell, there is a common misconception that Africa is a country of itself while it’s just one continent with various countries that may significantly differ from each other. So, if we take, let’s say, China or India, the investment and development process is much easier due to its unity, regardless of the population size. However, if we look from an opposite angle, Africa does look like a one whole country owing to the capital inflow seen by emerging markets intending to spread its influence across the entire continent like Uber, McDonald’s, Instagram, and other giants. And yet African startups are building something of their own.
What is also important to understand is that even with solid products, it will be financially challenging to afford it for many walks of life, which is why new companies are digging for the ways to reshape today’s economic behavior that is so prevalent in Africa.
