Internet of Things (iOTs) , which is also referred as machine to machine language is picking up in Africa. In 2019, close to US$ 100 million investments were made in Africa by venture capitalists from all over the world. The African Development Bank estimates that by 2021, Africa together with Middle East would account for close to US$12.6 billion investments in IOTs.
This makes it by far the most attractive technology for investors in the continent. According to the African Development Bank, the Internet of Things market is expected to reach US$12.6 billion by 2021 in Africa and the Middle East. The top countries that have attracted IOTs investments are Nigeria and Tanzania, riding on the back of Facebook and Uber investments. There are some Chinese companies also trying to invest in the sector.
