People between the ages of 15 and 35 are spending big bucks trying to remain in touch and connected to the latest trends.
Mobile communication has become the next frontier as a profitable sector of the economy and East Africa is certainly leading the way.
According to a report by the Consumer Insight Research Group, young people in the region are spending close to $1 million a day…on cell phone air time.
In Tanzania, Kenya, and Uganda combined…that’s 70 million US dollars a month.
And these are still conservative figures.
Kenya takes the lead, with young mobile users spending 38 million US dollars a month on topping up their phones. Ugandan youth spend 20 million…and in Tanzania, it’s 12 million a month.
These numbers are staggering in a region where most people live on about 2 US dollars a day.
Analysts say mobile operators in East Africa can bring in as much as 850 million US dollars a year. But they need to remain competitive to maintain these figures.
East Africa has the highest number of pre-paid users on the continent. In Southern and West Africa, mobile subscriber numbers are high. But by and large young people take out contracts in their parents’ names.
Maybe this is the right time for me to pack my ish, move to East Africa and start a business…