With African countries expected to have the youngest populations and the second largest continental population in the world by 2050, innovation and business support will be critical to ensure that the continent records the kind of growth rates needed to sustain it, analysts have said
Speaking at the Epicor Customer Summit, in South Africa last weekend, the Chief Executive Officer of World Wide Worx, Arthur Goldstuck, said that the African challenges should be seen as opportunities and not challenges.
“Africa is poised to become the breadbasket of the world, and African innovators and entrepreneurs have a good understanding of the bottom of the pyramid consumer,” Goldstuck said.
He added that exporting was critical to the growth of Africa, with mobile money, incubation hubs and entrepreneurship, as well as crowdsourcing becoming crucial players of growth on the continent.
Goldstuck said that through innovations, industry have been rapidly transforming and will continue to do through further advances.
“The agriculture sector, for example will now see smart farms, where farmers can monitor their land with a drone, and sensors in cows will be able to measure the health of livestock and send the farmer an SMS notification,” Goldstuck said.
“This is already happening and could be the future of Africa. Africa has a bright future and is alive with possibility,” he added.
However, Goldstuck said that the digital divide between Africa and more developed economies used to be a significant obstacle that needed to be overcome for the continent to be competitive on the international stage.
“This is no longer the case with many examples of how African countries are using mobile payment solutions and other services being mirrored in the global marketplace,” said Goldstuck.
“In many respects, the continent is showing the world what can be done when combining world-class technology with people who have embraced the digital environment and empowering themselves with the skills needed for this connected age,” he added.
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