BREXIT: What IT could mean for TECH in Africa

HARARE, ZI—CNBC Africa reports lower commodity prices, a slowdown in exports, higher debt servicing costs, greater currency volatility and dollar liquidity issues are some of the challenges African economies likely will experience in the immediate aftermath of the June 23, 2016  52% to 48%  British vote to exit (Brexit) the European Union (EU).

africa-techAs a result of leaving Europe, Britain will need to renegotiate its trade agreements with all 162 World Trade Organisation member countries. These renegotiated trade arrangements have the potential to significantly raise the costs of doing business and increasing restrictions and barriers to trade. Any slowdown in the UK will have an indirect effect by impacting the growth outlook for other key European trading partners – thereby reducing demand for African imports.

Read the full Brexit executive summary for the tech economy in Africa in the July 2016 edition of bdpatoday.

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Sources: CNBC Africa, All Africa and Africa Progress Panel.

Author: bdpatoday

BDPA, formerly known as Black Data Processing Associates, was founded in Philadelphia, Pennsylvania over 40 years ago in 1975 to promote professional growth and technical development in underserved communities for those in or entering information and communications technology (ICT) oriented fields of interest and related industries. bdpatoday (ISSN 1946-1429) is a monthly serial periodical published in Washington, D.C. by participating local BDPA Chapters of National BDPA (NBDPA) within their respective media markets by local chapter Communications Committees. bdpatoday is emailed to BDPA members, BDPA corporate sponsors, or electronically delivered to BDPA Chapters and Chapter Interest Groups (CIGs) via social media as a benefit of membership. Popular Technology TV (PTTV) features the latest TECH-Inclusion innovations and multimedia STEM programming content produced for video streams and television programs by Industry with bdpatoday and National BDPA's Washington, D.C. Chapter for general audiences.

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