Information and communication technology (ICT) market in South Africa

Industry highlights


Expected Compound Annual Growth Rate of local ICT market size between 2018-2028.

CAD $52.71 billion

Value of global South African ICT market in 2021.

CAD $1.16 billion

Expected value of ICT exports by 2026.


ICT companies active in South Africa in 2022.


Contribution of South Africa’s ICT sector to the country’s GDP in 2022.

South Africa is Africa’s most sophisticated, advanced and diversified economy.

With a GDP of CAD $551.78 billion in 2022 (IMF, April 2023 estimate), South Africa’s economy is currently the second largest in Africa and accounts for roughly 14% of the continent’s GDP.

South Africa has one of the largest information and communications technology (ICT) markets in Africa and remains Canada’s most significant African destination for ICT-related goods and services. South Africa has a highly sophisticated and technologically advanced banking ecosystem.

Key opportunities for Canadian ICT companies in South Africa

Notable challenges for Canadian ICT companies in South Africa

South Africa business landscape

The South African Presidential Commission on the Fourth Industrial Revolution released its report in October 2020. Priority subsectors as identified by the Commission include Artificial Intelligence, Broadband, Internet of Things (IoT), Cybersecurity and FinTech.

Accenture has predicted that digital industries can generate more than CAD $544 billion in value for industry & society over the next decade through the use of digital technologies in key industry sectors such as agriculture, public infrastructure & administration, financial services & manufacturing.

COVID-19 had seen companies rapidly speed up their digitalization processes. Manufacturers and industrial companies are looking for increased automation and solutions to reduce costs.

Business-to-consumer (B2C) organisations such as banks, multinational organizations (MNOs), retailers etc. are looking for innovative solutions to give them a competitive advantage. This has led to an increased appetite for AI, IoT, Cybersecurity and FinTech solutions.


South Africa is an attractive market for ICT, CleanTech and Digital Industries companies. Given its physical and economic conditions, the ICT and Digital Industries markets in South Africa are ideal for alternate power suppliers, FinTech, AI, IoT, cybersecurity, RetailTech and telco infrastructure solutions.

For more information on ICT and Digital Industries in the South African market, please contact

Date Modified: