POLS 1503 Unit 4 -DF
Ndung'u, N. (2017). Regulatory environment and technological innovation in Africa: Any tension? (Chapter 3). Foresight Africa 2017 Report. Brookings Institute. Retrieved from https://www.brookings.edu/wp-content/uploads/2017/01/global 20170109 foresight africa chapter- 3.pdf After reading through the report, address the following questions:
Why does the M-Pesa work so well in Kenya? Do you think that such a system could work in your country? Please state your reasons. As mobile phones, Internet access, and tech hubs differ greatly throughout the African
patrons, but more affordable? How can Konza Technology City make a positive impact in Kenya? Are there any pitfalls in this tech city, in your opinion? How can regulating technology improve a society?
The M-Pesa has worked so well in Kenya for various reasons. To start with, Kenya is a developing country, meaning that many people in Kenya have no access to bank systems. Therefore, the M-Pesa banking system has helped in creating the opportunity for all people to have access to banking systems. Moreover, this technological platform has helped Kenya in promoting innovation and financial inclusion without affecting financial stability (Ndung'u, 2017). And most importantly, the M-Pesa system has made it easier for the users to transfer money, developed virtual savings accounts, helped in cross-border payments and international transfers, and the companies have used the M-Pesa data to assess the customers' risk profile (Ndung'u, 2017). All these factors created by the M-Pesa system contributed to creating financial inclusion and innovation much better in Kenya, which is why the M-Pesa works so well in Kenya. For the United Arab Emirates, where I'm currently living, I don't think that such a system could work. This is because the United Arab Emirates already has well-developed bank systems with the best technologies, and most adults have bank accounts, which is why such a system could not be needed.
In my opinion, mobile phones, Internet access, and tech hubs can be more affordable to patrons throughout Africa if the governments invest in the best technologies that help in providing these key pieces of technology at the lowest costs. Furthermore, the government could encourage investors and retailers to export the latest technologies by lowering tariffs for example, which could create competition that helps to make these technologies affordable. This is just my opinion and ideas on how these technologies could be more affordable to patrons.
The Konza Technology City will have a huge positive impact in Kenya. In my opinion, this city will boost the technological development in Kenya, and maybe all of Africa, due to the technological advancement in that city. The Konza Technology City will provide a lot of new technology and digital job opportunities, which will help in bringing many people out of poverty (Ndung'u, 2017). This means that this tech city will have a positive impact on the economy of Kenya because this city provided job opportunities, and I'm sure that many investors were attracted to this city. In my opinion, the main pitfall of this tech city is that it