Three Industries Affected by Technological Change in Zambia

The continent of Africa is the second largest on the planet but industry there has struggled to grow. There have been recent signs that this is changing and some of this change is powered by technology. For example, powerhouses such as China are investing in countries all over the continent, bringing with them money but also technological software and systems. Zambia is one such country that has benefitted from the advancement in technology so in this article we’ll look at three industries that are experiencing growth on the ground.

Gambling

The gambling industry in Zambia has grown rapidly in recent years. There have never been more people visiting casinos in the country or using online platforms. This boom has been put down to several factors such as increased access to internet and the development and integration of the fintech sector. Casinos and gambling companies can now offer online services knowing that there is widespread smartphone ownership around the country. For example, the availability of the Aviator game in Zambia hints at a new future in the country. This game, which is taking over the market, is a crash game and allows players to bet and cash out before the game ends. As the industry develops, more games like this will come available to the growing market.

Tourism

Zambia has some of the world’s most unique and most naturally beautiful areas on the continent. Victoria Falls are located on the border with Zimbabwe and is one of the world’s largest waterfalls. As well as this, the country has over 20 national parks which house a host of animals including lions and different nature sites.

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Although the government is behind an increase in tourism, pledging to invest in transport infrastructure and under-developed areas of the sector, AI has also played its part. Chatbots and virtual assistants can now assist tourists in developing customized itineraries based on a user search preference while AI-powered platforms can also help tourists book the most cost-effective hotels and flights.

Banking & Finance

The banking sectors of developed countries have long been digitalized but that isn’t necessarily the case in many countries in southern Africa. Zambia has only recently seen development in the sector. This took off in 2020 when banks saw an increase in online banking payments. To aid the development of the industry, banks reduced transaction costs for their customers. While online payment platforms became more integrated into tertiary sector to allow users shop online.

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Zambia is one of a number of countries that is part of the World Bank’s initiative to build a digital economy in Africa by the year 2030. This program will aid economic growth in these countries by allowing the population greater access to technology, introducing a more integrated digital society. With initiatives like these funded by world organizations, technology in the region and in Zambia is sure to grow. As Africa aims to catch up to its continental neighbors, it will be interesting to keep an eye on their digital development over the coming years.