Public Management

African Smartphone Market Growth Slows in Q3 2024

African Smartphone Market Growth Slows in Q3 2024
Tuesday, 26 November 2024 19:13

In 2023, Sub-Saharan Africa had one billion mobile subscriptions, but only 51% were linked to smartphones, according to the GSMA.

Smartphone shipments in Africa reached 18.4 million units in Q3 2024, showing a modest 3% increase from the same period in 2023. This growth was slower compared to the 24% and 6% growth rates seen in the first and second quarters of 2024, according to data from the Singapore-based market research firm Canalys.

The deceleration is attributed to challenges such as inflation, energy volatility, weak consumer demand, rising operational costs, and infrastructure gaps. 

Looking ahead, Canalys notes that the future of Africa’s smartphone market will rely heavily on governments' and suppliers’ ability to address these structural hurdles. The firm forecasts a cautious 1% growth in smartphone shipments for 2025 and projects a compound annual growth rate (CAGR) of 1% between 2024 and 2028. 

This market slowdown could hinder broadband adoption in Africa, where telecom operators are ramping up investments in 4G and 5G networks, which require compatible devices. At the same time, African governments are accelerating the digitalization of public services to improve accessibility for citizens. Additionally, private startups are introducing various innovative digital services. 

“In the long term, success will depend on forging innovative partnerships among governments, vendors and service providers to balance immediate financial needs with long-term goals,” Canalys stated. “By fostering collaboration, Africa can accelerate its digital transformation, laying the groundwork for a connected, inclusive and economically dynamic future.” 

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• PIPL licensed by FSRA to operate in Abu Dhabi Global Market• Firm to raise global capital for key African growth sectors• License enables advisory, fund...
• DRC unveils $20.3B 2026 budget, up 16.4% from 2025• Budget targets revenue growth, reconstruction, inequality reduction• Reforms planned amid...
• The International Monetary Fund (IMF) has granted Zambia a three-month extension for its Extended Credit Facility (ECF) program, pushing the deadline to...
• The government announced plans for a new guarantee fund to ease SME access to credit.• Only 22% of SMEs in the country currently access formal bank...
Most Read
01

From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...

Africa's Boundless Future: How a simple mobile phone became a pocket bank for millions
02

• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...

WAEMU Region Records Second Straight Month of Deflation, at -0.9% in July 
03

Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...

Gabon’s Airtel, Moov to Share Towers Under Govt-Brokered Deal
04

Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...

Saudi Arabia’s 2025 Shopping List Now Includes Industrial Parks in Africa — With a $700 Million Entry Ticket
05

As a relatively small issuer in the West African Economic and Monetary Union (WAEMU) market, Benin i...

How Benin, a Small West African Nation, Became a Darling of Regional Debt Markets
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.