The introduction of social media helps SMEs to drive the economic growth of Africa through a study
TechInAfrica – Genesis Analytics conducted a study that showed how social media platforms are helping accelerate financial development and opportunities across the African continent. The study took place in eight African countries – Senegal, Côte d’Ivoire, Democratic Republic of the Congo, South Africa, Nigeria, Ghana, Mauritius and Kenya.
Mainland Africa is heavily dependent on its small and medium-sized enterprises (SMEs and SMEs), which form the bedrock of the country’s economy.
The study shows that digital technology could play an essential role in the development of the continent as numerous nations across the continent have abandoned their computerized change.
Research conducted by Genesis Analysis shows that SMEs are the tool to achieve youth employment, gender parity and intra-regional trade in Africa.
The report shows that SMEs using the Facebook applications have more young workers, with the proportion of representatives under the age of 30 typically around 45%.
SMBs using Facebook applications also said they were more likely to be obsessed with women. Meanwhile, in the assembly sector, SMBs positioned the capacity to develop new foreign business opportunities as the most useful services of the applications.
Kojo Boakye, Director of Africa Public Policy at Facebook, says: “84% of the SMEs surveyed showed that Facebook applications are important for their business development. It builds our commitment to providing the access and skills that will help people who use Facebook applications to expand job opportunities, wages, gender equality and sharing. “
Meanwhile, Ryan Short, a partner at Genesis Analytics, mentioned that the Genesis Analytics study sheds a really necessary light on how small and medium-sized enterprises (SMBs) on the landmass are embracing digital technologies and platforms. It shows that the use of digital devices can drive economic development by bringing more women into the conventional economy, opening up financial freedom for the younger generation and promoting intra-African exchange.