commonly known as FinTech, refers to the use of innovative technologies to deliver financial services, products, and solutions. FinTech companies leverage advancements in information technology, data analytics, artificial intelligence, blockchain, and other emerging technologies to enhance and automate various aspects of the financial industry.
Published in Chapter:
Quantum Leap and Uptake for Technological Advances in Africa in the Era of the COVID-19 Crisis
Emmanuel de-Graft Johnson Owusu-Ansah (Kwame Nkrumah University of Science and Technology, Ghana), Richard Kodzo Avuglah (Kwame Nkrumah University of Science and Technology, Ghana), and Yaa Adwubi Kyere (Kwame Nkrumah University of Science and Technology, Ghana)
Copyright: © 2024
|Pages: 32
DOI: 10.4018/978-1-6684-9962-7.ch013
Abstract
This chapter explores how the COVID-19 pandemic affected technology in Africa, focusing on technological innovations and uptake. The COVID-19 pandemic has encouraged industrial innovation and digital transformation in Africa. The COVID-19 pandemic has shown that traditional methods are ineffectual, and technology is needed. African nations need digital technology to improve healthcare, education, e-commerce, and governance. Technology narrows the digital divide by improving productivity, access to critical services, and promoting economic development. Telemedicine, e-learning, digital payments, and remote working made Africa resilient in the face of the pandemic. The chapter evaluates African technical problems and potential. Poor infrastructure, internet connectivity, high fees, and digital illiteracy are critical issues that need to be addressed. The chapter suggests that government, industry, and international organizations work together to solve these problems. COVID-19 might boost African technology. Technology may boost African economies and living standards through digital transformation if the aforementioned critical issues are overcome.