[UAH] Kenya’s phone use key driver of Africa trade
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Kenya's phone use key driver of Africa trade
PHOTO | JOSEPH KANYI | FILE A mobile phone user in Nyeri. Kenya's use of mobile phone services has been cited as among the key pillars of trade in Africa. NATION MEDIA GROUP
Posted Sunday, July 14 2013 at 18:02
IN SUMMARY
- Use of technology and mobile banking are expanding economic opportunities
- Some of the examples cited include Kenya's progress in the use of ICT and mobile banking in expanding economic opportunities, creating employment as well as deepening the financial services
- Kenya's use of mobile phone services has been cited as among the key pillars of trade in Africa.
According to a statement from the Economic Commission for Africa (ECA), African countries, including Kenya, have used information technology and mobile telephony services to enhance trade on the continent.
The panellists from the ECA and the World Trade Organisation (WTO), meeting in Geneva last week, pointed out that the services sector, especially mobile telephony and information technology, have been useful in linking developing and the least developed economies to the global economies, contributing to the structural transformation of these economies.
Productivity boost
"A notable example of this is the adoption of information and communication technologies and the boom in ICT-related services, which resulted in a sharp boost to industrial productivity levels," they said.
The panellists, who were discussing the roles of the services sector and global value chains for least developed countries at the Fourth Global Review of Aid for Trade, said the services represent one of the most vibrant segments of world trade, contributing to over half of the world value-addition with positive spill-overs on into many other sectors.
Some of the examples cited of vibrant trade services in the African context include Kenya's progress in the use of ICT and mobile banking in expanding economic opportunities, creating employment as well as deepening the financial services.
Enhance tourism
Others are the use of ICT
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