Digital economic expert, Ogechi Ifeoma Anya, has revealed that technology could promote the growth of about six African countries to further add value to the economic conditions in those countries.
In an article by her, she detailed various statements of problems and recommendations that could aid these countries achieve adequate digital and technological growth. According to her,
Africa has long been regarded as the next big growth market, a designation that has remained. There are numerous reasons to be optimistic: the African continent has some of the world’s youngest populations, it promises to be a key consuming market over the next three decades, and it is becoming increasingly mobile phone enabled. Because access to smart phones and other devices improves consumer information, networking, job-creating resources, and even financial inclusion, a rising digital ecosystem is especially important as a multiplier of that progress.
While comparing the digital growths of these countries based on their strengths and deficiencies as far as digital growth is concerned, she posited that Kenya and South Africa are leading the way.Rwanda is punching above its weight.Egypt and Nigeria have untapped growth potential. Ethiopia has the greatest potential for digital gains.
A part of the article read: “Nigeria has a strong entrepreneurial climate, which has resulted in innovative enterprises such as Jumia, Interswitch, Kobo360, and Andela. These companies are involved in education, fintech, agribusiness, healthcare, logistics, and tourism. In 2018, Nigeria was Africa’s largest startup investment destination, with approximately $95 million in agreements. The Yaba district of Lagos has even gained the moniker “Yabacon Valley.”
While recommending some key actions, she wrote: “Nigeria’s use of digital payments must be improved. 87% of Nigeria’s economy is conducted in cash, and the majority of Nigerians have never heard of mobile money.
“Policies to encourage wider mobile money use will be critical — in 2018, the central bank authorised telecoms and supermarkets to function as “payment service banks,” accepting deposits and making payments digitally — but the practise must become more widespread.”