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Scaling and Accelerating Growth: The role of technology

In context of the International CEOs’ Economic Summit (ICES) themed “Advancing Global Private sector partnerships”, held from 9th to11th July 2019 in Brussels, Belgium, Mr. Ken Poonoosamy, DCEO has participated in the panel discussion themed "Scaling and accelerating growth: The role of technology”.

Technology infrastructure backbone to enable connectivity, systems to improve production processes, enabling framework to promote the use and deployment of IT-enabled solutions and an innovation-led government have positive impacts on growth and development. It is established by the World Bank that a 10%point increase in fixed broadband penetration increases GDP growth by 1.21% in developed nations and 1.38% in developing economies.

Fibre optic cables and the wide use of international broadband gateways have transformed the economic landscape globally reducing drastically the digital divide, accelerating the pace of technology diffusion and enabling nations to gain significant strides in efficiency and productivity gains. Such transformation has also led to new businesses, start-ups and entrepreneurs.

The impact of technology and its disruptive force to bring about economic gains is more pronounced on the African continent. Indeed, technology is re-defining the economic agenda of many African nations, providing greater accessibility to basic services, ensuring the mainstreaming of the informal sector, assisting new breeds of entrepreneurs and contributing to elevate the working class and middle class income earners...

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Author - Ken Poonoosamy,

Deputy Chief Executive Officer, Economic Development Board (Mauritius) & Chairman and Board Member, COMESA Regional Investment Agency