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Social Media Now Driving Economic Growth in Africa – Survey

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A new study has revealed that social media platforms are now playing a key role in Africa’s economic growth and opportunities.

The study conducted by Genesis Analytics shows that Small and Medium Size Businesses which use Facebook apps - Facebook app, Instagram, Whatsapp, and Messenger, have an average of 45 percent of their employees being under 30.

It also revealed that small businesses in manufacturing that were using Facebook apps named the ability to access new foreign markets as the most beneficial advantage of the social media platform.

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According to the survey findings published in Business Daily, social media platforms are critical tools in not only the formation but also the growth of small and medium-sized businesses.

Of the total businesses surveyed, 73 percent were using social media out of which 84 percent said were using Facebook admitted that the application’s use helped in the growth of their business.

77 percent of the businesses said their business was stronger because of social media use while 55 percent believed use of social media helped them start the business.

“Digital platforms are enabling economic development in Africa in many ways, such as job creation, through jobs such as digital analysts, digital marketing and supporting businesses through better logistics platforms and new payment methods like cashless payments,” noted Neville I. Igasira, an e-commerce business consultant at Creative Mode Uganda in Kampala.

The survey that was aimed at exploring the impact of the digital economy on small- and medium-sized businesses also found that sixty-five percent of surveyed businesses reported that they have increased the use of social media and online messaging during the Covid-19 pandemic to communicate with customers, operate remotely, raise capital, and make sales.

Over half of the surveyed businesses in five of the eight countries (Kenya, Senegal, Côte d’Ivoire, DR Congo, South Africa, Nigeria, Ghana and Mauritius) reported that social media helped the business to stay open.

The survey explored the adoption and use of social media and messaging platforms; value to Small and Medium Size Businesses; barriers to usage; and the impact of the Covid-19 pandemic. The focus was on the Facebook company technologies, being Facebook app, Instagram, Whatsapp, and Messenger.

Baoriat Agencies is committed to helping you find the best place for you to settle in Eldoret town. We walk you through the entire process of acquiring your own property in Eldoret until it has been transferred into your hands.

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