Investment of technology in Third World countries, By Fom Gyem

Technology will bridge Third World countries with the rest of the world and make them more approachable. A sustainable technology development will offer better opportunities and raise the standard of living of the people in Third World countries. It is essential in bridging the skills deficiency gap in science, technology, and innovation, which are vital to unlocking Africa’s potential and accelerating economic growth and prosperity.

As technology has shown a critical role in the development of the Western world and its economic growth, developing countries are still suffering to integrate advanced technologies into their systems today. With globalisation and cooperation from developed countries, advanced technologies can be invested in Third World countries.

The lack of investment in science and technology has undermined Africa’s economic transformation at both the structural and sectoral levels (the growth of productivity within sectors).

In many Third World countries, the unemployment rate is found to be very high. Driving technology can decrease the unemployment rate by creating more job opportunities in those countries, for example here in Nigeria we have the Bolt, Rida, Uber and many other driving technology platforms that has help reduce the rate of unemployment .

As technology continues to advance, this is creating a highly technological environment in different types of organisations, where almost every job today requires a certain degree of advanced IT skills.

Today, mobile phones and other computer software make services accessible to everyone online. Third World countries can benefit from those provided services through advanced technologies in different fields such as agriculture, healthcare, and education.

One of the main reasons to infuse technology in the Third World countries is that existing technologies developed by other nations can be used; the Third World countries just need to learn how to integrate and operate them. And, consequently with all integrated technological advantages.

One of the most common challenges that developing countries face when integrating technology is the lack of infrastructure that might interfere with technology. It is crucial, prior to infusing technology into developing countries to develop a sustainable infrastructure plan that could support advanced technologies. While integrating technology in Third World Countries is well thought out for economic development and growth, it is also as important in improving education.

As a matter of fact, education is a priority that Third World Countries need today to take them to the next level and even lead them to the status of developed countries, also in order to infuse technology into Third World countries it is significant to take social, economic, and political factors into account.

Technology will bridge Third World countries with the rest of the world and make them more approachable. A sustainable technology development will offer better opportunities and raise the standard of living of the people in Third World countries. It is essential in bridging the skills deficiency gap in science, technology, and innovation, which are vital to unlocking Africa’s potential and accelerating economic growth and prosperity.

The best-trained, most talented researchers gravitate to environments where their work is leveraged by modern equipment, reliable utilities, and sufficient funding for supplies and, perhaps most critically, where they can benefit from the presence of other talented people and we Africans are proven to be very talented and smart people if given the chance to explore.

Nigeria has a powerful entrepreneurial climate, with innovative ventures such as Jumia, Inter-switch, and Andela as the outcomes. These ventures cut across education, fintech, agriculture, healthcare, logistics, and travel. Nigeria was Africa’s leading startup investment destination in 2018, recording nearly $95 million in deals. Lagos’ Yaba neighbourhood has even earned the nickname “Yabacon Valley.”

The relative affordability of Nigeria’s internet is key; The Economist ranks it first in affordability in the region. The government’s National Identity Management Commission has been carrying out massive registration across the country on the mandatory National Identity Number (NIN) scheme.

A unique identity system is essential in developing countries, where the vast majority have few other ways to prove who they are and thereby get access to public services or the financial system, usually through a mobile phone. Policies to facilitate digitisation must adapt to many challenges, which, themselves, must be addressed over time.

It is therefore heart-warming when the Minister of Communications and Digital Economy, Isa Pantami recently challenged startups and innovators in the Nigeria ecosystem to take ownership of existing policies to further consolidate and enhance the success of the ecosystem.

During his meeting with indigenous innovators in Lagos, Pantami urged them to explore avenues of developing the ecosystem to further drive the digital economy agenda.

Beyond the call, the Federal Government should also ensure its policies are practicable for the enabling environment.

Fom Gyem writes from Wuye District, Abuja.