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By 2030, The Shared Mobility Market In Africa Is Expected To Nearly Double In Size

Oliver Wyman, a global management organization, has issued a new report stating that Africa’s ride-hailing, e-bike and scooter rentals, and car-sharing businesses are poised for major growth. According to the research “Shared Mobility’s Global Impact,” the market size is estimated to nearly double from $4.2 billion now to $7.8 billion by 2030. Numerous African-specific characteristics contribute to this exceptional growth trajectory.

The fast urbanization that is taking place throughout Africa is a major factor. There is a growing need for economical and effective transportation options as cities grow and their populations rise. Because of increased urbanization, traditional public transportation networks frequently find it difficult to keep up, leaving a need that shared mobility services are well-positioned to fill. For instance, ride-hailing applications provide convenient on-demand transportation and efficiently handle crowded urban areas. Furthermore, a larger population may now use these services due to the increased smartphone prevalence in Africa

Compared to industrialized areas, the percentage of Africans who own cars is still low. This presents a significant opportunity for shared mobility platforms to serve people who may not have the funds or desire to purchase a personal vehicle. Shared mobility provides a flexible and affordable option by enabling users to use transportation only when necessary.

The projected growth of Africa’s shared mobility sector also carries positive economic implications. The report highlights the potential for increased job creation, with an estimated 550,000 income-earning opportunities emerging by 2030. The majority of these are expected to be within the ride-hailing sector, where drivers can reportedly earn significantly more compared to traditional taxi services. This economic empowerment fosters a ripple effect, boosting local economies and contributing to a more vibrant and connected continent.

However, there are still obstacles to realizing shared mobility’s full potential in Africa. In particular, dedicated lanes or pick-up zones for shared mobility vehicles are critical areas for infrastructure development. Furthermore, drivers and passengers must ensure safety laws are implemented and strictly followed. Moreover, combining these services with the current public transit networks can establish a smooth and effective environment for urban

Africa’s shared mobility sector is on the brink of significant growth. It is driven by urbanization, the increasing availability of smartphones, and a rising demand for affordable transportation options. This sector has the potential to transform urban landscapes, generate employment opportunities, and empower communities. To ensure that shared mobility continues to thrive and becomes a cornerstone of a more connected and dynamic future, Africa needs to address infrastructure limitations, prioritize safety, and foster collaboration with public transport systems.

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