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
WAEMU banking liquidity increased by CFA1,700 billion ($3.02 billion) in one year, according to BCEAO Governor Jean-Claude Kassi...
First National Bank Ghana secures $20 million BII loan to expand MSME lending Partnership targets wider credit access for MSMEs, key drivers of...
Nigeria lifts cash-deposit cap but keeps strict withdrawal limits with fees Banks face new reporting rules as CBN targets security, cost cuts and...
New law revises construction code and tightens insurance obligations All builders must obtain all-risk site coverage and 10-year liability...
Most Read
01

Camtel to launch Blue Money in 2026, entering Cameroon’s crowded mobile money market led by MTN Mo...

Cameroon: State Owned Telecommunication Company To Enter Mobile Money Market
02

Kossi Ténou succeeds Badanam Patoki as president of the AMF-UMOA. Ténou brings over 20 years of e...

Togo’s Kossi Ténou Appointed President of AMF-UMOA
03

BYD plans to open 35 dealerships in South Africa by Q1 2026, earlier than initially scheduled...

South Africa: BYD Targets 35 Dealerships by End-March 2026
04

The government will apply a 15% tax on all payments to foreign digital platforms starting Jan. 1...

Zimbabwe to Impose 15% Tax on Foreign Digital Services From 2026
05

Francophone Sub-Saharan Africa hosts 860+ startups but faces deep structural weaknesses EY urges...

Major Tech Reforms Needed for Francophone SSA to Attract More Investment, Report Says
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.