The landscape has drastically changed, especially when it comes to doing business in the 21st century. Hitherto the turn of the millennia, terms like; working online, mobile money transfer, social media, were unheard of and operating a business was very much a brickand-mortar affair.

However, thanks to this ever-shape-shifting enigma called technology; innovation in the tech world has become the ultimate disruptor of the century and has inspired a paradigm shift, whose value proposition has been to simplify processes. It is now easier than ever to start, operate and scale a business regardless of its nature.  A published paper titled Internationalization of Firms, Innovation and productivity co-authored by Iulia, Xiaoheng, and Brian discovered that firms that are closer to the technology frontier had higher labour productivity. Foreign entry had a positive effect on labour productivity. In Africa, Kenya best exemplifies the adaptive and mutating abilities of the internet. The
mobile money transfer phenomenon has been a tremendous success, baffling even the innovation
pacesetters of the West. As of April 2016, Kenya had a mobile penetration rate of 90% accounting
for 39 million Kenyans.

Smartphone uptake stood at 44% while the number of mobile money subscribers stood at 26.3 million. From these numbers, 227 million transactions were made with the transaction value at Kshs.420 billion.

 

 

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