African Media Agency (AMA)/Johannesburg, South Africa this month marks It is Africa Day. This day is essential for the African continent. Africa Day is the celebration of the formation of the African Union on May 25, 1963. This day is when the Africans remember their continent’s independence, freedom, and liberation from colonialism.
Africa Has Embraced Technology As A Driving Force For Africa’s Development!!
This is a reminder of Africa Day’s significance. While they have done a lot to liberate Africa from colonial rule and achieved significant progress, poverty, inequality, and unemployment remain problems on the continent. We still have a long way to go before we can emancipate. In the last several years, you can have had the pleasure of working with numerous organizations and small-scale businesses (SMEs) in Africa.
The African continent offers a tremendous opportunity that discusses with corporate executives whenever they travel. Based on United Nations estimates, about the same number of people inhabit Africa as North America, And Europe combined.
With A Youthful Population, Africa Is A Continent Rich In Resources!!
According to current estimates, Africa’s youth population will rise to 1,490 million in 2030 and 2,170 million in 2050. Approximately 70% of Africans are now under 35 years compared to Europe’s aging and falling population. Only if they’re tapped into can this population’s potential for growth in the economy and creativity be realized.
There Is A Slew Of Other Beneficial Assets Just Waiting To Be Discovered!
According to the United Nations (UN), approximately 30% of the world’s mineral wealth and 65% of the planet’s arable land are found in Africa, according to the United Nations (UN). Ninety percent of the world’s platinum reserves are held by South Africa, while oil reserves in Nigeria and Libya rank among the ten most extraordinary.
More than pair of the world’s cobalt supply comes from the Republic Of Congo, and Africa does have the most significant cobalt reserves. Even in automobiles and power generation industries, cobalt has become a critical resource as the globe moves toward renewable energy.
Another Area Where Africa Is A Global Innovator In Healthcare
BCG surveys recorded the highest mobile payment usage rates in Africa. These results indicate that mobile payment banking is a massive opportunity for Africa. Mobile transactions make up 87% of GDP in Kenya, and in Ghana, mobile transactions make up 82%. The number of mobile payments in Africa is expected to exceed the entire population of Europe by 2025.
Despite Africa’s relatively young population and enormous mineral resources, the African continent continues to lag behind the rest of the overall social and economic growth. Small and medium-sized enterprises (SMEs) that are well-equipped with cutting-edge technology can propel continental development.
The entrepreneurs (SME) sector could be a solution for Africa’s economic growth. By producing jobs and boosting the economy, small and medium-sized enterprises (SMEs) can help development. The real question that’s why African small and medium-sized businesses (SMEs) are taking so long to embrace and it utilizes technology.
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