Equity Group CEO Dr James Mwangi has called on African countries to embrace new technology and invest in the youth to drive the continent’s economic transformation and sustainable development.
Speaking During the 1st Annual Platinum CEOs Breakfast Forum hosted by KEPSA, Dr Mwangi said Africa’s young and tech-savvy population gives the continent a massive advantage for a future industrial revolution as a good percentage of Africa’s labor force will be well equipped to cope with industrial demands.
Dr Mwangi says technology has the potential to provide the continent with the labor it needs to develop sustainably, fill gaps within the continent’s labor force and labor requirements, and pioneer a new world order of tech-enabled business operations.
According to the United Nations Economic Commission for Africa (UNECA) the average technological capability in African states has almost doubled since 2013, increasing from 25% to 41% which is linked to increasing internet penetration and rapid diffusion of digital technologies across the countries.
Sustained growth of technological capability is crucial to the promotion of regional value chains in Africa and scaling the role of the Africa Continental Free Trade Area (AfCFTA).
