The perception of Africa as a high risk continent for business ventures is gradually changing thanks to an increasing number of significant investments in the telecommunications sector, mainly in Nigeria. The global investment market has realised that investment risks in emerging markets, such as Africa, have reduced mainly due to a change in perception. Investors now tend to look at individual countries and not at the continent, noting that some African countries have developed capital markets.
Nigeria is an example of a country that was previously perceived as a high-risk market for investment, but has now seen increased financial activity particularly in the telecommunications industry. Africa, as a continent has experienced growth in the mobile sector of telecommunications with a penetration rate currently at 6%. However, it still has a long way to go in terms of service accessibility.

The general level of technology and regulatory management in the industry is improving, while technical education and training is also improving. With low penetration levels and a population of about 850-million, Africa poses as a huge potential market for the telecommunications industry. At the same time it is a powerful tool for economic growth and poverty eradication, which can facilitate the integration of African countries into the global economy.