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Continent is seen as mobile money pioneer to benefit greening Africa

Continent is seen as mobile money pioneer to benefit greening Africa

by greena
March 15, 2021
in News
A A

Alex Rose-Innes

The world is taking notice of Africa, not only in terms of the way it is embracing the green revolution, but with the world’s fastest internet penetration and usage rates, the continent’s ever increasing volume of cashless transactions and extent of financial inclusion is outperforming the rest of the world.

However, according to the International Telecommunication Union (ITU), digitalisation to support green ventures shows that women are still lagging behind with only 30% being content creators, coders and entrepreneurs.

However, by the end of 2020, Fintech, (a combination of the terms “finance” and “technology” referring to any business using technology to enhance or automate financial services and processes) of almost half a billion US dollars had been raised. This is proof of Africa’s growing footprint as an entrepreneurial hub to address climate change. Across the globe, it is estimated that worldwide GDP could increase by 3% if the gender disparity gap is addressed.

According to the International Labour Organization (ILO), 84% of female non-agricultural workers in sub-Saharan Africa work in the informal economy compared with 63% of male non-agricultural workers. This puts them at the forefront of understanding the needs for digitisation in order to grow agriculture in a sustainable manner while keeping the effects of climate change at bay.

While African women are the majority in the uneducated and poor segments of the population, they have a dominant role in food production but limited access to digital technology and critical climate information.

Recognising the urgent need for a digitally connected Africa to drive the continent’s transition to a green future, the African Union penned a Digital Transformation Strategy (2020-2030) for an integrated and inclusive digital society and economy, ensuring every African would be digitally connected by 2030. 

Tags: African Unionclimate changeDigital TransformationGreening AfricaInternational Labour Organization (ILO)International Telecommunication Union (ITU)

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