Africa is the fastest-growing mobile phone market in the world, according to analysis and research firm Informa Telecoms & Media, which said in a press release issued today that it expects mobile subscriptions in Africa to have grown to more than 760 million by the end of 2012.
That would be 17.5% growth during the year (while the world average is 10.75%), according to Informa, and puts the continent on track to reach 1 billion mobile subscriptions by 2015.
"[S]ubstantial opportunities for further growth remain, because the rate of mobile penetration in Africa is the lowest among major world regions and fixed networks are under-developed or absent across much of the continent," said Informa analyst Matthew Reed.
Africa's penetration rate is at 67.55% compared to 91.1% for the world average, said Informa.The largest market, Nigeria, passed the 100-million subscriber mark this year and is expected to have 169 million subscribers by the end of 2017, followed by Egypt with 129 million at that time, according to Informa.
Dan Radovsky is a Fool contributor. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.