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
EIB Global invested $80 million in RMBV North Africa III, becoming the fund’s anchor investor The fund targets more than $300 million in...
Standard Chartered to sell all Botswana operations, exit market entirely Sale plan expanded after buyers sought full business, not partial...
nabD replaces SoGé following Saham’s takeover of Société Générale Maroc The platform offers mobile-first banking with remote account opening A...
Ghana’s First Atlantic Bank approved to operate in Liberia Liberia entry follows $60M IPO on Ghana Stock Exchange in 2025 FAB aims to...
Most Read
01

Development Partners International sold its 20.17% stake in Atlantic Business International for mo...

DPI Exits Atlantic Business International in $200 Million-Plus Deal
02

Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...

Africa’s Artificial Intelligence Moment : Infrastructure, Governance and the Path to Scale
03

Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...

Africa’s Energy Boom in 2026 Puts AfCFTA at the Heart of Its Trade Response to US Tariffs
04

Ivory Coast expects a new government after the prime minister and cabinet resigned following Decem...

Ivory Coast Awaits New Cabinet After Post-Election Resignations
05

African startups raised about $3.1 billion in 2025, up from $2.2 billion in 2024, accord...

Venture Capital: African Startups Raised $3.1 Billion in 2025, Launch Base Africa 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.