TechInAfrica – Genesis Analytics has conducted a study that showed how social media platforms assist the acceleration of financial development and opportunity throughout the Africa continent. The study took place in eight African countries – Senegal, Côte d’Ivoire, the DRC, South Africa, Nigeria, Ghana, Mauritius, and Kenya.
The African mainland is intensely dependent on its small and medium-sized companies and businesses (SMEs and SMBs), which are the foundation of the country’s economy.
The study reveals that digital technology could play an essential role in the continent’s evolution since numerous nations across the continent have left on their computerized change.
The research’s result conducted by Genesis Analysis proves that SMBs are the tools to reach youth employment, gender parity, and intra-regional trade in Africa.
The report shows that SMBs that utilize the Facebook applications have more young workers with a normal portion of 45% of representatives under 30.
Also, SMBs utilizing Facebook applications announced a higher recurrence of being possessed by women. Meanwhile, SMBs in the assembling area positioned the capacity to get to new foreign business sectors as the most helpful services of the applications.
Kojo Boakye, Director of Africa Public Policy at Facebook, says, “84% of studied SMBs revealed that Facebook applications have been significant for their business development. It builds up our dedication to giving the entrance and abilities that aid people using Facebook applications to expand work openings, wages, gender equity, and exchange.”
Meanwhile, Ryan Short, Partner at Genesis Analytics, mentioned that the Genesis Analytics study focuses a truly necessary light on how small and medium-sized businesses (SMBs) on the landmass are accepting digital technology and platforms. It reveals that the utilization of digital devices can drive economic development by carrying more women into the conventional economy, setting out financial freedom for the young generation, and boosting intra-African exchange.