2023: Here Are Three Potential Tech Areas Investors Should Watch In Ghana

The Ghanaian Tech space is gradually expanding globally and has become an open source of employment for most youth in the country seeking a career for themselves.

The global economic hardship in 2022 hit the funding landscape. It pushed venture capitalists to rethink their investment priorities, forcing most Tech companies to cut costs by reducing employment size and, among other unforeseen problems.

But with the continued growth in the tech ecosystem and the emergence of innovations that come up now and then, investors need to put their money in the right place.

This article will highlight the best and most promising Tech spaces investors can look for in 2023.

eSports

eSports is fast growing in Ghana, and it's high time investors take a critical look into it and take technical measures to improve it; Gaming has transformed from just a recreational activity to a fast-growing, lucrative industry. eSports offers several avenues to make money for both gamers and investors.

According to a report, The global eSports market size was valued at USD 1.22 billion in 2021 and is expected to reach a valuation of USD 1.44 billion in 2022. The market is expected to reach USD 5.48 billion by 2029, with a CAGR of 21.0% during the forecast period. Increasing live streaming events and benefitting revenue opportunities are expected to have a positive market pathway.

Factors such as essential investments, increasing live streaming events of games, engagement activity, growing viewership, and league tournament infrastructure are estimated to propel market trajectory. An increasing number of advertisements for e-sports on online platforms is propelling the market's growth.

The love for sports by most Ghanaians and the growing interest in eSports among the youth provides a vast opportunity for an investor to tap in.

Cryptocurrency

The global cryptocurrency market and its adaptation have rapidly increased over the past years, especially in Africa. Ghana has been tipped as one of the rising countries to fast adopt the currency. The currency suffered setbacks last year with the collapse of the World's second-largest FTX raising regarding the necessity of establishing regulatory frameworks to safeguard investors' investments.

Despite warnings from the Bank of Ghana over the trading and investments of bitcoin in Ghana, the currency has found its way to rapidly grow in the country and also harbors prospects of reaching higher heights in the future.

Cryptocurrencies remain an excellent investment avenue in Ghana, which provides overtime recovery from losses and reaches record highs. Despite its regularly reported volatility, it shouldn't be shocking that more people are becoming interested in the bitcoin market globally.

In a recent poll of more than 40,000 people globally, nearly 40% of respondents said they intended to purchase cryptocurrencies like Bitcoin in the upcoming year. This article lets you learn more about the cryptocurrencies to watch out for in 2023.

Bitcoin is a good investment since it can eventually compensate for losses and reach record highs. Despite its frequently discussed volatility, it shouldn't surprise that more people have become interested in the cryptocurrency market globally.

Nearly 40% of respondents to a recent survey of more than 40,000 people worldwide said they planned to buy something.

Delivery Services

The arrival of covid 19 paved the way for delivery companies in Ghana, with the demand for delivery services hitting the highest levels. The global lockdowns temporarily closed companies, food joints, and other essential shops, leaving people to their faith.

The World had no choice but to embrace the new way of living. People resulted in other ways of doing things, but the delivery field was the biggest gain in this way of living. People fell on delivery guys like bike men and other transport means to have their goods, food, and needs delivered to them.

Despite the World moving past those stages, most people in Ghana still rely on delivery services through mobile apps as their primary shopping source.

This has been a significant source of employment for many youths in the delivery space. Connoisseurs of the game have projected the delivery market to hit higher revenues in the coming years.

With the rise of apps like Jumia Food, Bolt Food, Ghanapost, Eagle Express, Oak Express, Street Express, and Kasi Express, which combine technology and logistics to provide services to their customers, it is the need for investors to drive attention to it as it harbors a great wealth if the needed attention is given to it.