Digital Economy

The Digital Economy: 5 Advantages for Sub-Saharan Africa

The world has embraced the digital economy including Africa where 10% of Kenya’s GDP comes from mobile payments. This is made possible by rising access to the internet and availability of cheap smart devices. For Africa and the rest of the world, the new economy has potentials for the following capabilities which need nurturing:

1. Disruptive Innovation

The new economy, mostly powered by the internet, has enabled a hitherto non-existent capability to create solutions and business models in various socioeconomic sectors which address social issues as well as make money. The building of a device by a Cameroonian engineer which examines a heart patient’s condition and sends results to a doctor for diagnoses is a case in point.

2. New Jobs, Careers and Entrepreneurship Opportunities

There are now jobs and careers in computing and software development and the like. The new economy has also introduced plenty of choices and huge growth potentials for entrepreneurs with partnership and knowledge sharing mindset as in the case of Uber.

3. Investor-friendly Contiguous African Market

Contrary to geography and thanks to the digital economy,Africa is gradually becoming a single market which can be targeted

with a similar strategy by investors As in the consumption of music and the performing arts, African consumers have become

contiguous and homogenous and can be reached almost with a single strategy with minor variants. Africa Internet Group

which started in 2012 in Nigeria and now in 26 African countries is a typical example of an investor with this understanding.

4. Improved social inclusion and sustainable development

The key elements of the digital economy: mobile money, mhealth, m-education and similar solutions which enable more people to gain access to services has considerably improved social inclusion. In addition, these and other elements of the new economy have introduced shorter, more collaborative and optimized production processes, enhanced equality and information and knowledge democracy which are key recipes for sustainable development.

5. Increased Social Development

With technology enhanced Just-in-time production processes, businesses save time, money and lives and ultimately impact the environment positively. However, the impact of the digital economy is not limited to the social and economic spheres, but extends to culture as well, according to the UNESCO. With its capabilities, local African populations can now curate, produce and market their content to the wider world assisted by various elements of the new economy such as crowd funding, video platforms etc. For Sub-Saharan Africa, the new economy creates a chance for economic growth and social development which can be activated and nurtured by cooperation, openness and innovation to realize the full potentials. .

TODAY'S YOUTH GROOMED OR BROOMED WITH TECHNOLOGY?

In our parents time everything they did was worked out with a pen on a piece of paper. You learn how to add, subtract divide and multiply all in long hand and possessed a very strong I.Q level capable of solving a very difficult equation by thinking and finding a solution. Whereas, today’s youth have developed their own means of solving problems through electronic devices. The National Council of Teachers of Mathematics recommends the use of calculators in schools at all grade levels. They believe though that calculators need to be taught to build students on mathematics knowledge. Technology has really changed things around the world. Most especially for the youth's. It has made youth's of nowadays lazy in thinking, lazy in planning, lazy in understanding some basics about life. All what most youth does is to be online browsing through the social media. But my question is "Is Technology a crime?"

No, technology is not a crime; it’s just that most or say majority of the youth abuse the use of the internet but for those that are wise are groomed to the positive side of technology for their own use and advantages. With the inventions of new technology and game consoles and other devices, today's youth are trading fun by spending hours in front of a monitor or television screen. You will find younger children having such facilities even in automobiles.

Computers have brought a world never before accessible to many, but some have abused the use of the internet. Calculators are helping tools for calculating but we are becoming too dependent on them. The gaming industry is one of the nation's largest, but is it just for fun or there are benefits attached to it? In order words,, there are merits and demerits to all aspects of today's technology, so whichever comes first, it all depends on how we take and make use of the technology.

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