Broadband internet should be open to all, and is a fundamental part of moving South Africa’s economy forward, says finance minister Tito Mboweni.<\/p>\n
Presenting to the World Economic Forum on Africa in Cape Town on Thursday (5 September), Mboweni said that greater internet access will also help aid the country’s other major issues.<\/p>\n
“We all know that economic growth, job creation and entrepreneurial activity is inextricably linked to broadband access,” he said.<\/p>\n
“We, therefore, need to ensure that broadband access like healthcare and education is available to all.<\/p>\n
“If we don’t overcome social, economic and spatial inequality in the provision of broadband we will simply perpetuate the economic exclusion of the majority of the people.”<\/p>\n
Mboweni said that South Africa must also take advantage of the opportunities presented by technological change to enhance its competitiveness in the global landscape.<\/p>\n
“The growth of mobile money systems on the continent is an example of just how much technology can broaden access to markets, connect companies and support the growth of start-ups and small businesses.<\/p>\n
“We are entering an era in which many things are unknown. We need to prepare our young people for jobs that haven\u2019t yet been created.”<\/p>\n
Impact of automation<\/strong><\/p>\n Mboweni also acknowledged that new technologies will bring challenges to South Africa – including job losses.<\/p>\n “We know that workforces in just about every industry will be impacted by automation, possibly resulting in downsizing and redundancies,” he said.<\/p>\n “According to McKinsey, up to 375 million workers globally may have to change their occupational category and acquire new skills by 2030.<\/p>\n “Employers will need to make substantial financial commitments to ongoing upskilling and reskilling in response to labour market needs.<\/p>\n Mboweni said that South Africa needs to also ensure that technology promotes greater equity and broader social and economic participation.<\/p>\n “Just as the Greek god Prometheus seized fire and gave it to man, let us harness technology for the sake of human progress.”<\/p>\n
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