Frost & Sullivan study finds Africa to have huge potential for digital currency firms, potentially 1 million Bitcoin wallets by end of 2015

Physical map of Africa

French-headquartered ReportLinker, a search engine offering access to a large online collection of industry, company, and country reports available, has shared key findings of Mountain View, California-headquartered Frost and Sullivan’s study titled “Mega Trends in Africa.” According to one of the key findings, Africa will have great market potential for firms operating in the digital currency space, and by the end of 2015, there will be one million Bitcoin wallets in Africa and nearly one-third of Kenyans will be using a Bitcoin wallet.

Frost & Sullivan is a consulting firm which provides market research and analysis, growth strategy consulting and corporate training services across multiple industries. The company made the in-depth study, which is priced at $6,000, available for purchase on September 30 on its website.

The study, according to Frost & Sullivan, weighs in on Africa’s future prospects, examining exogenous factors or Mega Trends that will drive Africa’s growth story over the next 10 years and provides insights into the impact of digital trends, such as virtual currency and future direction of a cashless African economy. The study, says the market research firm, provides insights on the economic growth, future demographic trends, growing levels of foreign investment and new business models from the African perspective as well as an understanding of the inter-linkages of these ‘Mega Trends’ and their implications for countries and industries on a macro level, and for cities on a micro level.

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