Are new graduates ready to make a difference? The digital era generation is expected to properly use and monetize digital technology. The era of digital technology is basically changing the way of doing business and transforming business activities. It opens a golden opportunity for startup businesses as it helps to penetrate the market and promote businesses easily. In addition, digital technology opens golden opportunity for the youth to join the business world by exploiting the untapped potential of the digital sector. As a new and growing industry, the digital sector opens equal opportunity both for newcomers to the business world and to the existing ones.
By its nature, the digital industry demands educated people. The youth generation has a comparative advantage in exploiting the untapped potential of the digital economy. Especially in developing countries like Ethiopia, the sector with huge potential is in its initial phase. Despite rapid growth during the past five years, the digital sector is still untouched. Youths, especially graduates of higher educational institutions, can easily penetrate the digital sector to create businesses using their knowledge with limited capital.
The digital era opens an opportunity to easily change ideas into businesses. The digital sector presents a significant opportunity for the new generation in various ways. Exploiting the rapidly growing opportunity of the growing industry is in the hands of the current generation, especially in the developing world. The new generation has the comparative advantage of easily penetrating the industry and exploiting the untapped business areas in the sector.
Ethiopia with over 100 million populations and a fast-growing economy places due focus on the development of digital technology. The country promotes the development of the digital industry to accelerate its economic development. As a result, the country focuses on developing the digital infrastructure which opens equal opportunities for newcomers and existing business activities. Knowledge-based business ideas by the younger generation especially graduates of higher educational institutions can easily penetrate the industry.
Wasting time to find jobs and waiting to be recruited is not profitable for the current generation. In the digital era, it has become easy to do business using your knowledge and skills. The development of the technology sector in general and digital technology in particular brings new opportunities for the younger generation. And the technological development opens comparative advantage for educated young.
Understanding the development of digital technology is important to exploit the opportunities of the sector. Graduating students have to look into the burgeoning sector. Leveraging the opportunities of the growing digital economy, graduates of higher education institutions in groups or individually can easily start businesses and professional online services with limited capital. Using their knowledge and experiences, graduates of higher education institutions can significantly benefit from the growing digital sector and contribute to the growing digital economy, positioning themselves as key players in the country’s economic development endeavors instead of wasting time and resources to find jobs.
June and July are graduation months in Ethiopia where tens of thousands of students are graduating from different Higher Education Institutions across Ethiopia. These Tens of thousands, of graduating students from different institutions in different fields of studies are joining the market with diversified knowledge, skills, and wisdom. This fresh energetic trained and skilled human resource is a blessing for the economy of the country, recruiters, and the family’s recruiters as well.
Instead of wasting their energy, knowledge, and skills to develop businesses and companies of existing investors, the current generation has to use the knowledge, skill, and energy to create new and competitive businesses, innovations and companies using the current technological developments including AI, digital technology and other emerging technological developments. Emerging technologies are coming with new opportunities, new potentials, and new advantages, especially for the new generation. The new generation in the developing world has the comparative advantage of using these emerging technologies.
Speaking during the graduation ceremony of Debre Birhan University 2024 batch, State Minister of the Ministry of Innovation and Technology (MInT), Yeshurun Alemayehu (PhD) calls new graduates to stamp their fingerprint in Ethiopia’s digital economy journey. Yeshurun stated that graduating students are entering to a new chapter of their lives calling the graduates to contribute their share to the development of Ethiopia’s digital economy endeavors.
Mentioning Ethiopia’s efforts to develop the role of digital technology in economic development, Yesgurun stated that Ethiopia is creating a conducive ecosystem for the development of the digital industry. Especially the Digital Ethiopia 2025 Strategy is transforming the digital sector in Ethiopia and accelerating the role of the digital sector in the economic development of the country. As the sector demands skilled, well-trained, and equipped human resources, Yeshurun calls on graduates of higher education institutions to play their role for the development of the digital sector in Ethiopia.
Yeshurun stated that graduating from higher education means “starting a new chapter in your life.” As to him “Graduating from higher education institutions is a transition to another chapter of your life, not the end of the journey. Hence, you have to be ready for the new world order” Yeshurun said. As to him, using the knowledge and skills the graduates have developed during their stay in higher education institutions, they have to play their contribution in the development of Ethiopia’s digital economy journey.
The growing demand in software development, IT support, developing new applications, cyber security, data analysis, development of digital payments, digitalizing traditional businesses, and innovating new businesses using emerging technological developments are among the areas where the new generation has comparative advantages. In addition, remote and part-time work, online services, and other merging activities are allowing graduates to work for international companies without leaving their country.
Similarly, the digital economy fosters a startup and innovation culture where graduates can innovate and create their own tech companies, contributing to job creation and economic growth. E-commerce, digital services, content creation, networking, and collaboration also provide opportunities for graduates to make businesses. Monetizing social media, exploiting e-commerce to start online businesses, and offering digital services like web design, app development, and content development are among the available businesses in addition to using the digital industry to promote business activities that are non-digital businesses.
Attending Addis Ababa University’s 2024 graduation ceremony, Education Minister Berhanu Nega (Professor) stated that education brings a positive change in the world. He stated that education helps people to overcome existing challenges adding education is the base to elevate our country in technology, science, health, and other social sectors. Mentioned the interconnected and systemic crisis of the new world order, Professor Birhanu calls on the new generation to give due focus to quality education to compute internationally.
Professor Birhanu calls the graduates and the youth in general to exploit emerging technologies like AI for economic development before they become threats for developing countries like Ethiopia.
BY DARGIE KAHSAY
THE ETHIOPIAN HERALD FRIDAY 19 JULY 2024
