Economics

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    Transforming Africa: The Information and Communication Technology Revolution
    (2019-07-12) Crable, Prof. Elaine
    The Internet and mobile phones are transforming the commercial landscape in Africa. The Information and Communication Technology (ICT) sector is now positioned to promote innovation, job creation and boost the export potential of African companies. In recent years, a greater number of the 54 African countries have been embracing technology as the driver. Africa is a continent in a digital e-transition. The rise of the middle-class is fueling consumer growth and according to a study by the McKinsey Global Institute, the Internet will generate African economic growth and social transformation particularly in the following six sectors: Financial services; Education; Health; Retail; Agriculture; and Government. In the Financial sector, McKinsey pointed out that M-Pesa’s mobile money solutions have brought millions of Kenyans into the financial grid for the first time. In the area of Health care, remote diagnostics are expanding medical services to rural areas that have few healthcare professionals. In Education, students are beginning to learn with new digital education tools, and e-government initiatives are connecting citizens with government services. Technology-related productivity gains in these, other sectors could reach $148 billion to $318 billion by 2025, and large African populations stand to benefit as a result. This presentation will discuss the progress and future of ICT in Africa and discuss how small and medium-sized enterprises (SMEs) from different business sectors can make use of ICT opportunities.