Figures
show that the digital economy is becoming a large part of the global
economy worldwide. In many Sub-Saharan African countries, some aspects
of the digital economy have already had a huge impact on the daily life
of the population. This is particularly apparent for mobile payment. In a
country like Kenya, mobile payment represents 10% of its annual GDP.
Other factors, such as the emergence of equipment in the affordable
devices market and increased connectivity, reinforce the movement
towards digitization of socioeconomics and culture. Consequently, there
are many positive outcomes that those countries should focus on and
enhance. Here are five such benefits:
1. Digital economy enhances business creativity and entrepreneurship
The
link between digital economy and creativity is almost evident. Major
technology services of these last years are based on disruptive ideas.
Creativity is the driving force that allows us to address issues around
us and seize opportunities. Now is the ideal time to break rules, build
and innovate culture, find original ways to monetize ideas, and
eventually have a deep impact on society. The idea of inventing a Touch
Screen Medical Tablet came to a young Cameroonian engineer while he was
an intern at a public hospital. During his internship, he decided to
address the issue of a critical lack of heart surgeons by building a
device that can perform medical examinations in distant places and
transmit results to doctors for interpretation and diagnosis. Being and
remaining competitive in this digital era requires you to invent new
business models and approaches in relation to customers and access to
markets. The good news is that people can be inspired by many successful
examples in this current world.
2. Digital economy has a direct impact on employment
There
are many potential jobs tied to the ICT field, such as computer and
electronic products, software publishing, telecommunications or IT.
There is also a demand for specialists in the global ecosystem: mobile
app developers, data scientists, and social networks specialists. Of
course skilled workers are needed worldwide and this offers the
possibility to anyone to foster his/her career locally or globally at
anytime, even from the comfort of their own home. The self-employed and
entrepreneurs can take advantage of numerous opportunities available to
start their own business. But it is important to mention that people
should work together, share new ideas, assess their projects and develop
synergies. It can also be relevant for both employers and employees to
think deeply on the shift on working habits with 'Uberization' of the
labor market.
3. Digital economy opens up Africa as global potential market
Unlike
what some falsely think, Africa is not a country. But one of the
promising prospects of digital economy, especially for investors, is the
possibility to look at the African market as a whole or at least as
blocks of potential clients with similar purchase power and/or
lifestyles. Nowadays, many executives and business developers are
targeting more and more the growing African urban consumers as they have
become demand boosters. Africa Internet Group (a start-up founded in
Nigeria in 2012) is now operating e-commerce companies in 26 countries
across Africa and has recently received additional investments totaling
$245 millions to support its continuous growth. Today, entrepreneurs
should have African musicians' mindset as many have been thinking about
their art like something to be appreciated in many African countries.
And that's why they list cities which they think they will be successful
with their craft: Douala, Abidjan or Nairobi, and even other cities
outside of the continent.
4. Digital economy induces positive social impacts
For
some people excluded from the financial system, mobile devices have
been a channel for access to some financial services. It has even been
the first step in connecting them with the rest of the society. Nowadays
with mobile money, everyone can buy a plane ticket (or train or bus)
from a mobile phone without a bank account that requires proof of formal
job, for instance. There are still ways to explore the alignment of
micro credit with mobile money in an optimal way that can address
dynamic populations without means and ideal projects in which to invest.
In the same way, fields like m-health and m-education are just
beginning to be explored.
With digital economy, the production
chain is a shortcut and collaboration is a path for great achievements.
The fact that information is instantly available for everyone reduces
inequalities among citizens. Everyone can be skilled to take his own
destiny in hands without necessarily being affiliated with a powerful
network. With the potential growth induced by those patterns and if
different stakeholders implement good practices, sustainable development
is the normal output of those positive impacts.
5. Digital economy amplifies sustainable development
It
indeed requires fewer warehouses, fewer objects and sometimes there is
no need to have stocks; "dematerialization" is positive for the
environment. For instance, if people buy fewer cars because they share
with other people via a digital platform, this can effectively
contribute to a reduction in traffic in our cities and bring more
ecological balance.
Beside the social and economic dimensions,
culture is gaining a decisive place in the today's dematerialized world
as stated by a recent report by UNESCO. This is the time to produce
local relevant content to be used by an increasing demand on books,
music or movies. The quality of numerous tools allow serious artists to
create and to propose their work to the world. And it is even easier to
access funds via crowdfunding and other digital financial facilities.
The
digital economy is emerging in Sub-Saharan Africa as a powerful
catalyst for growth and development. But people have to learn to work
together and be open to the world. There is a necessity to have creative
ideas and find disruptive ways to make things happen. Opportunities are
everywhere to fulfill personal needs and help others.
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