Complexities of Tech Accessibility and Affordability will Derail Digitalization
The digital divide in Ethiopia is becoming increasingly pronounced, with only approximately 30.1 million people (25% of the population) having internet access at the end of 2022, compared to the global average of 67%. While this disparity in of itself signifies the lack of substantial efforts to address these issues, other metrics indicate that socioeconomic and cultural factors, negatively impact the population’s ability to embrace the digital revolution.
Diversification for Sustainable Growth: Why African Startups Should Look Beyond Venture Funding
The global economic downturn is one of the early warning signs that startups should look elsewhere to quench their investment needs. Unfortunately for African businesses, mergers and acquisitions are predicted to be the primary growth strategy for startups worldwide. At the same time, data shows that investors anticipate significant reductions in their investment rates, which does not bode well for African companies.
Tech Crucial for Achieving Development Goals
The administration’s 10-year perspective plan adopted in 2021 outlines the role ICT will play in economic growth. Among its pillars is a focus on building technological capacity and a digital economy, which aligns with several SDGs such as good health and well-being, quality education, decent work and economic growth, and reduced inequalities.
Conventional Lending Won’t Do for MSMEs
Medium, Small, and Micro Enterprises (MSMEs) are undoubtedly essential pieces of a low-income country’s economic development. In developing nations, MSMEs contribute up to 40% of gross domestic product (GDP) and 70% to employment creation. Surprisingly, there aren’t extensive studies that assess the contribution of MSMEs to Ethiopia’s economy. However, some reports indicate micro and small […]