• There is an ever-increasing demand for data: the state requires it for policy development and monitoring, businesses require it for decision making, and NGOs require it to hold governments accountable

  • There is a particular need for data from African markets, as the digital revolution has resulted in continual business growth despite the pandemic

  • Companies such as Rwazi have rolled out a data solution with broad coverage, which will become even more extensive with the upcoming expansion of their network to India and Southeast Asia in January 2022

In today’s world, the importance of data gathering is paramount across the board. It aids businesses in understanding their customers, as it enables them to make better business development decisions and improve customer retention, but it is also vital for both the state and non-governmental organisations (NGOs).

In the wake of the COVID pandemic, Africa has been able to bolster its economy and nurture incredible business growth as a result of the digital revolution - using online means as a way of reimagining itself. This growth means that the untapped potential of African markets is becoming a leading investment opportunity for many. Consequently, demand for services offering on-ground data from markets in these areas has increased exponentially. An investment decision without data is a gamble, not an investment.

The Increasing Demand For Data

The need for data is as old as civilization itself. In ancient Egypt, it was used to facilitate the effective measurement of land and monitor taxation of individuals. Since then, the amount of data demanded, plus its number of uses is tied to the complexity of an economy. These metrics have been exponentially increasing as the world has become increasingly sophisticated.

Economists use the PPF (Production-Possibility-Frontier) curve to illustrate the point at which an economy is producing at maximum efficiency and capacity. Since data is inherently tied with the other inputs to the production capability of an economy, if an economy’s potential production capacity should increase - the country’s demand for data will rise in order to realise this increase.

The investment opportunity presented by the growth of African markets represents such an increase in the potential production capacity of economies across the continent. Therefore, the demand for data has increased to enable investors and businesses to capitalise fully on this increase in output.

Africa’s Growth

Africa’s economies are recovering from the pandemic with strength, with projections that the continent’s economy will grow by 4.45% in 2021, according to the Control Risks and Oxford Economics Africa index. This growth will only accelerate with the establishment of the African Continental Free Trade Area - the largest free trade area in the world.

This is across a variety of industries, but particularly clear in Africa’s energy sector. The reasons for the booming African energy sector are twofold: the continent’s ever-increasing industrialisation and its associated demands, as well as the growing urbanisation of many African countries.

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Using Optimal Data Providers

Rwazi is a provider of fresh on-ground data and analytics across sub-Saharan markets. The information they provide is ideal for making the informed decisions necessary to effectively capitalise on the growth in African markets.

Rwazi is differentiated from traditional market research firms such as Nielsen, Kantar and GfK through their network of mappers across localities in developing countries; the firm has now achieved data harvesting coverage in 40 sub-Saharan countries with 10,000+ mappers.

The company has received various accreditations since its founding, including the Brave Founder of the Year award by the Southern Africa Startup Awards, and the Challenge of 1,000 award by Digital Africa. In addition to this, it is the first and only startup from Mauritius to be accepted by the Facebook Startup Circles Program.

The market data they provide is invaluable to any organisation looking to invest in Africa’s growing economy, and their professional attainments (as well as their exclusive data mappers), clearly marks Rwazi out.

Final take:

As the data industry continues to evolve, watch this space closely as innovators rise to meet growing demands around the world.