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Excellent year for South African IT and telecoms companies expected

2022 is set to be a standout year for South African ICT companies, with a tremendous amount of interest in the country’s IT and telecoms industries.

The year kicked off with the news that Teraco was acquired at a valuation of R55 billion, which shows the international interest in South African IT companies.

There was also a lot of news about new tech products and the latest developments in the local IT and telecommunications markets.

The buzz in the South African ICT market is to be expected, as it follows the international trend of strong growth in the IT and telecoms sectors.

Gartner research predicts that tech budgets are set to increase significantly in 2022 – up to levels higher than before the pandemic.

Monika Sinha, research vice president at Gartner, said their research showed technology investments are going way up.

“In fact, technology investments are going to be at the highest they’ve been over the last decade,” Sinha said.

Big tech growth

The growth in the local IT industry is clearly seen when looking at MyBroadband’s latest statistics.

MyBroadband is South Africa’s largest IT publication and is the window into the local IT and telecommunications industries.

In the first week of 2022, MyBroadband attracted 1 million readers – the strongest start to a year it has ever seen.

MyBroadband has also launched a record number of marketing campaigns for South African companies in January.

It illustrates the excitement from South African IT companies about the year and the optimism about increased tech budgets which are up for grabs.

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Excellent year for South African IT and telecoms companies expected