Browsing: 4IR

Within the service industry, 4IR creates a potential for new goods and processes enabled by technology. As demand develops in lockstep with income, possibilities exist as African countries resume economic growth. Because technology complements rather than replaces labour in many service industries where formal companies and employment dominate, the adoption of technology should develop new formal wage positions for young and educated job seekers.

Adoption of 4IR technology may also result in improvements in job quality (e.g., earnings, income security) in the large non-farm informal sector (63 per cent of total employment)—for example, by the use of online stores and channels to find customers and satisfy their needs safely and efficiently.

Even though the country knows that diamonds are a finite resource, it still holds the world’s richest mine and is the biggest producer of gem diamonds. The country has become something of a role model for good development, powered by diamond mining.
20 percent of Botswana’s gross domestic product comes from this one commodity.
It propelled the country from the second poorest country in the world in 1966, at US$70 per person per year, to a middle-income country in 2021. Botswana estimates the diamond economy will start dropping in 2030.