Africa’s younger generation clearly recognise the role technology plays on both a personal and financial level, according to the Barclays Group’s “Africa Prospers: Future Youth Drivers of the African Economy” report.
The report aims to reveal how Africa’s youth define prosperity and what it means to them. Over 7 000 respondents from South Africa, Zambia, Botswana, Kenya, Ghana, Mozambique, Seychelles, Mauritius, Tanzania, Uganda and Zimbabwe (of which 78% were between the ages of 18 and 35) took part in a survey from April to August this year.
According to the report, computers topped the list of items that respondents said would contribute to accessing financial freedom and helping them prosper, followed by books, which ranked second most important. Tablets ranked fifth and cell phones ranked seventh.
“Both the internet and new and developing mobile phone technology are increasing the importance of this generation as agents of social transformation and wealth creation in different sub-regions of Africa,” the report states.
The top five goals respondents said they used to gauge their prosperity were financial success, physical health, career satisfaction, wellness and happiness.
The report also reveals that young people consider investment and savings as the vehicles to financial success.
Barclays Bank of Kenya’s managing director, Jeremy Awori, said these are the factors that will drive Africa’s future growth.
“The Barclays Africa Prosper Report shows that people work hard for their money and want their money to work hard for them. What is particularly encouraging is that when questioned further, the youth of Africa would rather invest their money to fund further education than to spend it on flashy consumer goods,” Awori said.
“It is also clear is that Africa’s emerging youth presents the continent with an unprecedented opportunity to deepen our human capital, and with the right tools, tomorrow’s decision makers can unlock Africa’s potential,” Awori concluded.
You can see the full report on the AMedia Agency website.[Source, Image – A Media Agency]