Airtel Africa, a leading telecommunications company in sub-Saharan Africa, experienced a decline in the share of revenue from voice services, dropping from 60.97% in 2019 to 46.16% in 2023, while data revenue increased from 21.74% to 33.11% over the same period. Despite a slight drop in profit after tax, the company saw growth in customer numbers and infrastructure. Nigeria remains Airtel Africa's largest market, contributing 39.3% of its revenue and holding a significant share of the telephony and internet subscriber market.

Tanzania saw a significant increase in internet subscriptions from 9.31 million in 2013 to 39.3 million by June 2024, with mobile wireless subscriptions making up 99.75% of the total. Safaricom in Kenya has grown its subscriber base from 10.2 million in 2008 to 44.7 million in 2024, maintaining a strong market position. In Nigeria, internet subscribers grew by 4.3% from March 2023 to March 2024, with Nasarawa leading in new subscriptions. The GSMA's Mobile Connectivity Index 2023 shows South Africa leading in Africa, with only four African countries surpassing the global average score.

Over 4,000 people were interviewed across Nigeria's six geopolitical zones for the Nigerian Financial Services Market report, produced in partnership with Moniepoint. The North Central, North-West, and South-West regions each accounted for a little over one-fifth of the people who own mobile money or bank accounts. The South West has the highest number of people without mobile money or bank accounts, while the South South and North East have significant portions of the population unaware of mobile money. Southern zones show higher neobank awareness, and the South South has the highest ratio of people without banking facilities in their communities.

Nigerian Fintech startups have been the most funded in the startup space over the past five years, with a peak of over $1.01 billion raised in 2021, marking the highest funding in 14 years. However, funding for the sector has decreased since the 2021 raise.

Revenue from voice remains the largest contributor to Airtel Africa's revenue between 2019 and 2023, but its share has steadily declined from 60.97% in 2018 to 46.16% in 2023. Meanwhile, the share of revenue from data and Airtel Mobile has been on a steady rise since 2020.

Nigeria's crude oil exports reached a record high of ₦29 trillion in 2023, accounting for 81% of the country's export value and marking a significant increase over three consecutive years since 2021. Despite a 36% decline in 2020, exports surged by 53% in 2021, 46% in 2022, and 37% in 2023. Concurrently, Nigeria experienced a dramatic 226% increase in petrol pump prices from ₦189 to ₦617 between May and July 2023, following the removal of petrol subsidies. The Petroleum Industry Bill, passed in July 2021, is anticipated to bring transformative changes to the oil and gas sector. Nigeria's oil production saw a decrease from 2.1 million barrels per day in 2019 to 1.798 million barrels per day in 2020.

By 2027, Africa is expected to see a significant increase in the sale of fully electric vehicles, reaching 2,200 units from just 400 in 2021. Despite this growth, Africa will still represent only 0.02% of the global market for fully electric vehicles, which is projected to reach 13.33 million units by 2027, up from 4.6 million in 2021. This indicates a substantial global shift from petroleum-powered vehicles to electric ones.

Sales of fully electric vehicles in Africa are expected to increase from 400 units in 2021 to 2.2 million by 2027, which will represent about 0.02% of global sales. Worldwide, electric vehicle sales are projected to rise from 4.6 million in 2021 to 13.33 million by 2027, highlighting a significant shift towards electric vehicles.

GTCO led Nigerian banks in 2023 profit margins, retaining 45% of its revenue, while Zenith Bank led in profit after tax with nearly ₦677 billion. Twelve NGX-listed banks collectively earned ₦3.42 trillion profit after tax, with the top four banks contributing 71% of this amount. POS transactions in Nigeria surged from nearly 2.6 million in 2012 to nearly four billion in 2022, and the value of Mobile App transfers more than doubled in 2022.

Jumia Group experienced steady growth in active customers for five consecutive quarters from Q1 2019 to Q2 2020 and saw an increase in orders during the same period. However, Q4 2020 marked a significant drop in active customers. The company's highest order volume was in Q4 2021 with 11.3 million orders, followed by 10.3 million in Q2 2022. Despite a 13% year-over-year increase in orders in Q2 2021, Jumia still recorded a substantial loss, which was 105% higher than in Q1 2021.