IFC: African businesses lag in digital tech use

May 20th 2024

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Africa is missing out on the economic benefits emanating from the digital revolution as most businesses are not using the technologies despite having access, a new study shows.

Research by the International Finance Corporation (IFC) shows that although 86 percent of businesses in Africa have access to digital technologies such as mobile phones, computers and the internet, only 24 percent are intensively using them for business-related functions such as accounting and sales.

As a result, they are not fully benefiting from the efficiency and growth associated with the use of these technologies.

“If you don’t have the proper use and the instruments to be able to use the connectivity, you don’t have the economic impact that you expect from that technology,” said IFC Managing Director Makhtar Diop during the launch of the report on Thursday on the sidelines of the Africa CEO Forum in Kigali.

Source: The East African

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