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Follow on Google News | UN Africa Industrialization Day – Mobile payments pave the wayAs Africa Industrialization Day is observed across the world on the 20th November 2014, it is worth noting that Africans continue to display their ability to adapt and adopt new technologies and points of view.
By: Omlis “Many African economies have shown impressive growth rates in recent years, but increased prosperity has not always translated into inclusive wealth creation,” UN secretary General Ban Ki-moon said in a statement (http://www.un.org/ With a population of 1.1 billion and rising, Africa is currently experiencing exceptional growth to match its growing population. The question of how African-based economies can cope with their increasing population growth experts say is being answered through the explosion of mobile payments in emerging economies across the world, with Africa emerging as a global leader in this market space. Mobile payment experts Omlis have attributed Africa’s leadership in this mobile centric space to availability and access of affordable mobile phones and internet services, lower transaction costs compared to traditional alternatives and financial inclusion options for the previously unbanked and excluded. “Through mobile payments, Africa is beginning to show the economic potential that it always had. Mobile liberation means that industries from farming to telecom can effectively share knowledge, communicate and most importantly transact quicker and cheaper,” said Markus Milsted CEO of Omlis. Mr Milsted also added, “As a leader in the secure mobile payments space, Omlis ensures that mobile users operating on 2, 3 and 4G can access digital services with complete confidence. In mobile payments, trust is our most valued currency and we ensure that it’s justifiably spent.” Research by Gallup across 23 countries in sub-Saharan Africa found that 65% of households had at least one mobile phone, with countries like Zimbabwe and Burkina Faso experiencing an average annual growth rate of 9% since 2008. The same research found that 80% of urban households in Africa had a mobile phone compared with 63% of rural households compared to 2008 where the figures were 63 and 43% respectively. With energy being a key component for industrialization and economic development (http://www.cafamerica.org/ “Africans didn’t invent mobile phones, but they invented a new way of using mobile phones.” Said Calestous Juma, a leading voice on technology and development in Africa. Mr Juma also added, “Energy is becoming the biggest barrier to greater connectivity. All those smartphones that use broadband use power, so there is an energy challenge of how to expand to rural areas.” As Africa Industrialization Day is observed across the world on the 20th November 2014, it is worth noting that Africans continue to display their ability to adapt and adopt new technologies and points of view. It is very unlikely that this behaviour will change in the near future and the rapidly closing gap between African economies and the “industrialized” End
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