South Africa’s digital economy could see a $5 billion boost if it addresses current deficiencies, according to a report by Naspers and the Mapungubwe Institute for Strategic Reflection. The report highlights that the nation’s digital sector is underperforming despite high demand and potential. To resolve the deficiencies, the report recommended improvements in digital infrastructure and regulatory frameworks. This includes establishing regulatory “sandboxes,” expediting high-speed internet expansion, and enhancing tech education. The proposed changes could increase the sector’s GDP contribution from 0.02% in 2022 to 1.38% by 2035. The report also noted the growing influence of global e-commerce players like Amazon and Shein in South Africa, intensifying competition for local businesses.
SOURCE: SEMAFOR
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