Ghana, Kenya and Nigeria Information Technology Q4 2020
The short-term outlook for the IT markets on Ghana, Kenya and Nigeria have been lowered to account for theCovid-19 pandemic and subsequent socioeconomic shocks. The heightened economic uncertainty and global quarantine effortswill cripple short-term demand for IT hardware, software and services as businesses face a deteriorating environment. As demandlevels are deferred, we expect spending on non-essentials to be scaled back in the short term. Our core scenario is for pent-updemand to be unlocked from 2021 onwards, when the outlook is slated to improve. Ghana, Kenya and Nigeria have huge growthpotential based on a large and untapped population and enterprise base where device and solution penetration is behinddeveloped markets, and most other emerging or frontier markets. Strong investments into economic modernisation, power andenergy, construction, infrastructure and transportation and logistics will provide steady enterprise demand for a healthy IT marketgrowth, albeit from a nascent stage of development. However, the downside is that per capita IT spending is still low and demand isvulnerable to external shocks, especially in the commodity export economies of Ghana and Nigeria, while the operatingenvironment also presents major challenges such as logistics and IP protection.
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