How social media is powering small business in Africa
The Facebook Company contracted Genesis to produce an independent report exploring the impact of the digital economy and social media on small- and medium-sized businesses (SMBs) in eight African countries (South Africa, Nigeria, Kenya, Ghana, Mauritius, Senegal, Cote d’Ivoire and the DRC).
The study finds evidence that social media platforms are powerful catalysts in the formation and growth of new SMBs, and shows that SMBs that use digital tools such as the Facebook apps (Facebook, WhatsApp, Instagram and Facebook Messenger), are the vehicles for realising Africa’s three latent opportunities:
Leveraging Africa’s competitive advantage of an extremely young population;
Bringing more women into formal economic activity; and
Diversifying and expanding intra-African trade.
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