Global consulting and research firm, Analysys Mason has revealed that leading social networking site, Facebook is set to grow Africa’s economy by a whopping $57 billion in five years.
This was contained in Facebook’s findings on its Impact Connectivity Initiatives in Sub-Saharan Africa (SSA). The findings highlighted how Facebook investments in infrastructure and connectivity across the region will deliver over $57 billion in economic benefits over the next five years (2020–2024).
The initiatives, it said, would also ensure a reduction in costs for Internet Service Providers (ISPs) and lower prices for end-users.
“This includes the 2Africa cable, one of the largest Subsea cable projects in the world, which will circle the African continent, landing in 16 African countries. It will triple the capacity currently provided by all the subsea cables serving Africa today further supporting the growth of 4G, 5G, and broadband access for hundreds of millions of people.
It also includes Edge networks which enable ISPs (Internet Services Providers) and MNOs (Mobile Network Operators) to access content on Facebook’s platform closer to their own networks
This increases service quality and reduces costs while cutting international connectivity and transit costs for operators and improving user experience” Facebook said in the study.
The company further disclosed that 70 percent of its traffic in SSA was now served from within the region.
Speaking on the development, Facebook’s Africa Public Policy Director, Kojo Boakye disclosed that the company is committed to Africa and the role it can play in improving the continent’s global competitiveness.
“At Facebook, we are committed to Africa and the role that we can play in improving the continent’s global competitiveness. Over the last three years, we have heavily invested in infrastructure and connectivity initiatives that aim to affordably connect people on this continent and create tangible socio-economic benefits. These efforts are part of a complex solution that requires all stakeholders, including mobile operators, infrastructure providers, and governments to work together for the common good” Boakye said.
