Africa's revival is centered on innovation. Digital technologies provide a vital channel for African nations to recoup lost GDP and create jobs. They can assist alleviate economic losses in a variety of areas by creating new job markets, diversifying production, enhancing productivity, revolutionizing service delivery, and expanding access to finance via mobile money.
However, if countries do not take deliberate steps to close the digital divide, digital innovation will only go so far. The benefits of digitalisation and digital solutions will be concentrated in the hands of a few due to persistent inequalities in technology access, education, and internet availability across the continent. Rural areas, women, adolescents, and low-income households will be excluded from the transformative potential of a COVID-19 recovery as long as inclusivity is a problem.
Africa has recently been hailed as the future hotspot of technical innovation and economic progress. Major milestones such as the widespread adoption of M-PESA in Kenya, which has become a global case study on mobile payments; Facebook's $1 billion 2Africa internet project in collaboration with the world's top telecom companies to increase internet penetration in Africa; and the unicorn status of companies like Jumia, Interswitch, and Flutterwave, all demonstrate this. These incidents serve as a reminder that addressing Africa's most pressing issues has enormous worth. While all of this is going on, I've heard claims that Africa lacks innovation and that we don't come up with our own solutions. Those people, in my opinion, are incorrect.
The world's earliest stone tools were discovered in Africa, according to history. Many people assume that the ventilator was invented in Egypt, for example. Africa may have been late to the digital economy, but it has a number of competitive advantages. It benefits from the accomplishments and failures that other advanced countries have already made.
With its young population and plentiful natural resources, Africa has a lot of room for economic and technical development. There's no denying that Africa is ready to join the tech industry: Africa has a number of advantages over other regions when it comes to establishing a technology-based economy. With an average age of 19.5, the continent boasts the world's youngest population, indicating that there is a significant population of young individuals looking for a way into the technology business. African tech startups can learn from the early errors of tech centres like Silicon Valley because of the continent's late entry into the global tech sector. Furthermore, Africa is entering the digital market at an excellent time: by joining late, African technologists can quickly benefit from globalized internet technology, bypassing antiquated infrastructures such as landlines and branch banking in favor of mobile phones or mobile money.
Other Industries are Being Revolutionized by Technology: Technology isn't simply excellent for the technology industry; as many countries have realized, it can be applied to a wide range of industries. Through digitized books and online classes with worldwide universities like Harvard and MIT, technology is transforming education in Africa. Farmers may control their cattle populations with the use of an app called iCow. Africans can now attend church services through the internet, alleviating the problem of limited religious resources in rural areas. Furthermore, mobile phones and enhanced connection have already proven to be crucial in responding to crises such as the Nigerian Boko Haram kidnappings. Both commercial and social areas have already been impacted by new technology.
The field of technology education is exploding: Multiple African institutions are now offering software engineering, computer science, and other tech degrees that compete with established universities such as Yale and Stanford, recognizing the urgent need for technology-based education. Furthermore, the number of technology accelerators is rapidly increasing. In April 2019, Orange, a French telecoms firm, inaugurated its first African digital center in Tunis, Tunisia, to support businesses and educate young entrepreneurs. Andela, based in Nairobi, Kenya, is Africa's best computer engineering accelerator, connecting its students with tech jobs all over the world.
Africa is Developing Its Own Tech Economy: Africa's technological revival indicates that the continent will eventually develop its own tech market. President Paul Kagame of Rwanda, for example, launched Africa's first smartphone manufacturing in October 2019. The facility does not make iPhones, but rather the Mara, a mobile phone designed by the Pan-African Mara Group. The Mara is remarkable in that it is the first phone built wholly in Africa by a corporation. Onyx Connect from South Africa and AfriOne from Nigeria are two other African businesses that have entered the smartphone industry.
Growing tech industries boost GDP: Expanding access to technology is crucial for African economies to grow. According to the World Bank, a 10% increase in internet penetration results in a 1.38 percent boost in GDP in a developing country. International companies are attracted to Africa's technical advancements. IBM, Google, Facebook, and Microsoft have all initiated investment projects in Africa as a result of the continent's technological advancements. Despite the difficulty of providing extensive technology access to dispersed people, African governments are banding together and devising initiatives to accelerate Africa's technological rebirth.
Africa is becoming a prominent role in global technology, despite the fact that its countries are still developing.