New research shows technology could speed up growth in Africa

Although we are headquartered in Washington D.C. USA, our reporters and editors are working around the globe to cover what you care about. We invite you to donate to our fundraiser to help us keep our quality news free and available to all.  

A new research published in the Harvard Business Review on Wednesday shows that although both the World Bank and the International Monetary Fund have made less optimistic projections about Africa in the years and decades to come, technology could help the continent “leapfrog” ahead in its economic development.

The IMF and the World Bank last October during the Annual Meetings in Washington DC cut their 2019 economic growth projections for sub-Saharan Africa (SSA) to 3.5% and 2.8%, respectively.

In addition, the World Bank said poverty has increased — 437 million of the world’s extreme poor are in SSA — and 10 of the 19 most unequal countries in the world are in SSA.

[read_more id="2" more="Read full article" less="Read less"]

The World Bank even projected that if poverty reduction measures and growth remain sluggish, Africa could be home to 90% of the world’s poor by 2030, a shocking statistic many Africans find it hard to believe.

However, despite those projections of gloom and doom, a new research shows that at least in six African countries – Egypt, Ethiopia, Kenya, Nigeria, Rwanda, and South Africa – technology could perform magic in lifting many out of poverty and transforming their economies.

Read full research here.

[/read_more]

Simon Ateba
Simon Ateba
Based in Washington, District of Columbia, United States of America, Simon leads a brilliant team of reporters, freelance journalists, analysts, researchers and contributors from around the world to run TODAY NEWS AFRICA as editor-in-chief. Simon Ateba's journalistic experience spans over 10 years and covers many beats, including business and investment, information technology, politics, diplomacy, human rights, science reporting and much more. Write him: simonateba@todaynewsafrica.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

Volunteer in AstraZeneca coronavirus clinical trial dies

A volunteer for AstraZeneca and Oxford University's coronavirus vaccine trial has died, Brazilian authorities said on Wednesday, according to Reuters. It...

IMF approves additional $156 million disbursement to Cameroon to respond to COVID-19 economic fallout

The International Monetary Fund (IMF) on Wednesday approved an additional $156 million disbursement to Cameroon to respond to COVID-19 economic fallout.

Amnesty International urges Sudan to transfer former President Omar al-Bashir to ICC

Sudan should transfer individuals indicted on charges of crimes against humanity, genocide and war crimes to the International Criminal Court (ICC),...

Amnesty International confirms at least 38 Nigerian protesters killed on Tuesday

At least 12 Nigerian protesters were killed on Tuesday in two locations in the commercial city of Lagos, Amnesty International said...

“I’m heartbroken”: Former Nigerian Vice President Atiku Abubakar releases video message as country slips into chaos

Former Nigerian Vice President Atiku Abubakar on Wednesday released a video message received by Today News Africa in Washington D.C. as...

MOST POPULAR

Damning report finds detainees in Iran were sexually abused and given electric shocks in gruesome post-protest crackdown

Iran’s police, intelligence and security forces, and prison officials have committed, with the complicity of judges and prosecutors, a catalogue of...

Africa shocked U.S. under Trump has worst coronavirus response in the world

President Donald Trump has "failed in his basic duty to protect Americans", world's renowned journalist Bob Woodward told Fox News Sunday...

Ethiopia charges prominent opposition figure Jawar Mohammed with terrorism

As human rights organizations continue to warn that Prime Minister Abiy Ahmed is turning Ethiopia into a dictatorship, his administration on...

Ghana to reopen international air borders from September 1

Ghana will reopen its international air borders on September 1, six months after closing them in March to curb the spread...

Cybercriminals target South Africa, Kenya and Nigeria with millions of attacks in 2020, and the year is not over

South Africa, Kenya and Nigeria have already seen millions of cyberattacks in 2020 with three months to the end of the...

Volunteer in AstraZeneca coronavirus clinical trial dies

A volunteer for AstraZeneca and Oxford University's coronavirus vaccine trial has died, Brazilian authorities said on Wednesday, according to Reuters. It was not immediately clear whether the man received the vaccine or had been part of a placebo group.The Wall Street Journal cited local reports in Brazil as saying the volunteer was a man in his 20s from...

[/read_more]

[read_more id="2" more="Read full article" less="Read less"]

Share
WhatsApp
Reddit
Tweet
Share