We live in an era of technological innovation. Digital technologies have the power to drive change, especially in developing countries.
To capitalise on digital transformation and innovation, we need smart policies, more IT developers and affordable and sustainable internet connectivity.
“A well-functioning digital economy is necessary to achieve faster economic growth, offer innovative products and services, and create more jobs. Assessing where strategic investments and interventions need to be made is a critical first step to enabling growth in the digital economy,” writes Melissa Govender for Business Day.
According to Business Day, Africa’s economic growth and digitalisation largely depends on the affordability and quality of the internet. If more citizens have access to faster and cheaper internet connectivity, they can use it for education and various technological services.
While Africa has progressed towards digital transformation, it is of upmost importance to do more. Growth in the internet GDP is dependent on a combination of factors from “quality internet connection, rapidly expanding urban population, a growing tech talent pool, a vibrant start-up ecosystem, and Africa’s commitment to creating the world’s largest single market under the African Continental Free Trade Area (AfCFTA)”, Business Day reports.
Development Finance Institutions (DFI) can accelerate the digital economy and address market failures. According to Business Day, “the World Bank Group’s flagship initiative, Digital Economy for Africa (DE4A), supports digital transformation and recognises the role the digital economy plays in accelerating the achievement of the UN sustainable development goals, as well as the twin goals of ending extreme poverty and boosting shared prosperity.
Govender argues that innovation is not enough to improve the digital economy. “Systems, digital connectivity and infrastructure, together with improved human capital and access to services, will be critical for success and sustainability.”
Here’s a roundup of interesting opinions, analyses, and editorials:
Can development finance accelerate Africa’s drive towards a digital economy? – Business Day
Long road ahead for the retail sector — particularly e-commerce – Daily Maverick
Pattern of justice meltdown can no longer be ignored – Citizen (for subscribers)
Thich Nhat Hanh, Julius Malema and dreams of vetkoek – News24 (for subscribers)
Mmusi Maimane | Ten steps to fix SA’s education system for future generations – News24
Matric results are a real sign of hope – and a tribute to Angie Motshekga, who has education of children in her heart – Daily Maverick
Johannesburg needn’t be Fear City – Mail & Guardian
Without fiscal austerity, debt levels will continue to rise – Business Day (for subscribers)
Image credit: Pixabay
