Youth-Led MSMEs in Sub-Saharan Africa Lag in Digital Maturity

A study led by Dr. Imoleayo Foyek Obigbemi from the University of Lagos, in collaboration with scholars from the University of Nairobi and the University of Witwatersrand, indicates that youth-led micro, small, and medium enterprises (MSMEs) in Sub-Saharan Africa are operating below expected levels of digital maturity.

The research was presented at an event hosted by Arthur Mbanefo Digital Research Centre, University of Lagos, where stakeholders discussed the future of digital transformation among African businesses. Vice Chancellor Folashade Ogunsola delivered a keynote address emphasizing the strategic importance of MSMEs, which account for 80% of businesses and contribute 50% to the continent's GDP.

The study identified four key forms of digital leverage for MSMEs: leveraging social media, customer relationship management software, fintech platforms, and access to digital learning resources. Experts warned that low digital maturity could exacerbate broader economic issues, including poverty, and stressed the need for mentorship and support for young entrepreneurs.