Deepening technological awareness and proficiency in Nigeria and other parts of Africa is creating opportunities for businesses to develop affordable devices and data usage plans, along with high quality home-grown content, a new PricewaterhouseCoopers report has found.
Also smart investors can key in to the opportunity it affords to share data that could support better planning and public services, and provide the basis for joint initiatives in areas such as housing and infrastructure development.
The 56-page report titled “Disrupting Africa: Riding the wave of the digital revolution,” states that Africa is embracing technological disruption in a way that sets it apart from other continents.
Africa has recorded growth in mobile phone usage from 174 million in 2007 to 772 million in 2016, a 344 percent growth while the rest of the world saw a growth rate of 107 percent from 3192million to 6605million in 2016.
“What marks out the digital revolution in Africa isn’t the technology that underpins it, so much as the growing affordability, accessibility and, until recently, largely untapped demand that have made its advances so rapid,” Joel Segal, Chair of PwC’s Africa Business Group.
Highlighting opportunities in the e-commerce sector, the report said harnessing the power of technology will provide business opportunities in secure and trusted payment systems, mobile and online, payment and delivery intermediation between retailers and customers and closer integration between high street and online retail, using stores to market and collect payment for a broader range of goods available online
This deeper technology penetration the report noted is driving efficiency in business and public services, strengthening trust and combating corruption, improving market access and ease of doing business.
The report states that technology is opening up opportunities to boost digital connectivity, revolutionise agriculture and improve public services.
It called for closer partnership between governments and business to make the technology accessible and affordable.
“There is in particular a huge commercial opportunity for companies that can bring broadband and functional smart devices within the financial reach of mass market consumers,” the report said
ISAAC ANYAOGU
