Digital transformation could unlock R5 trillion in 10 years

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Digital transformation has the potential to unlock more than R5 trillion worth of value in the next 10 years for South Africa if key initiatives across government and the private sector are implemented.

This is the conclusion of a recent report conducted by Accenture, titled Unlocking Digital Value for Business and Society in South Africa.

The report indicated that the potential value from digital transformation across five government services – public infrastructure, public administration, public healthcare, safety and security and social services – could be R2 trillion.

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On the other hand, the digital transformation of nine industry sectors, including financial services, agriculture and manufacturing, could deliver more than R3.6 trillion.

In an interview with City Press Vukani Mngxati, CEO for Accenture Africa, said the report had managed to highlight specific areas, which could be used to unlock the potential.

“What we are saying is that there is an additional R5 trillion, which is locked up in the digital transformation agenda that the country can unlock in various sectors in the next 10 years,” he said.

Mngxati emphasised that although the government played an important role in ensuring the potential was realised, the private sector and society had an equallykey role to play.

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He said both the government and the private sector needed to invest more in digital technology, adding that the infrastructure investment should not be concentrated in urban areas but also in rural communities.

“There will definitely be jobs that will be lost but there is an opportunity to create jobs,” he said. “Reskilling for digital jobs of the future and skilling for new entrants is important.”

He said that the analysis measured the effect that digital technologies and enablers, such as analytics, crypto company Blockchain, the internet of things and artificial intelligence could have on South Africa’s industries and society.


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