A new report has highlighted job creation as the biggest advantage of Africa’s growing digital economy.
The Africa Innovation Impact Report which surveyed 4,500 Africans from Kenya, Nigeria, and Ghana revealed the exposure of the younger segment of the population to technology, growing financial inclusion, and the potential to plug infrastructure gaps on the continent are also benefits of the continent’s digital economy.
The report which was compiled by Talking Drum Communications and Survey54 also disclosed that education (21.1 per cent) is considered to be the sector most impacted by technology innovation on the continent over the last two years, more than financial services (18.3 per cent) and entertainment (15.1 per cent).
Commenting on the report, Founder and Managing Director of Talking Drum Communications, Olugbeminiyi Idowu, said, “Our aim with the report is to capture the impact of Africa’s emerging innovation narrative beyond anecdotes and hearsay and contribute to the conversation about how we keep things moving forward.
“Based on the data we have gathered, the innovation coming out of Africa is not only changing the way people live and work. It is also changing the way people think, and how they view themselves as Africans and driving demand for more innovation.”
There is a growing appetite for these innovations, both from African users and global investors, and there is much to be excited about what the future holds.”
According to the report, the development of every aspect of the digital ecosystem is required to meet the needs of Africa’s growing population.
It added, “With Africa’s share of the global population poised to increase from 17 per cent in 2020 to 26 per cent in 2050 and 39 per cent by 2100, the continent’s digital economy must expand accordingly to meet the growing needs.
“African innovators and entrepreneurs are increasingly rising to the challenge of identifying and creating solutions for various challenges, and the stage looks set for more innovation stories to emerge. There is a growing appetite for these innovations, both from African users and global investors. Hence, there is much to be excited about what the future holds.”