InvesTong CEO on how to leverage technology to spur entrepreneurship

Amidst the ongoing challenge of high youth unemployment in South Africa, entrepreneurs like Denny Tong are advocating for the leverage of technology to spur entrepreneurship and drive business growth in the country. In a recent interview with CNBC Africa, Tong, the CEO of InvesTong Group, shared insights on the importance of integrating technology into small businesses and the role of government policies in supporting young entrepreneurs. Tong, a seasoned entrepreneur hailing from a small village in Northwest Africa, emphasized the need for a shift from traditional business practices towards embracing technological advancements. He underscored the critical role of technology in helping businesses not just survive, but thrive, especially in the current pandemic-stricken environment where remote work has become the norm. One of the key points raised by Tong pertained to the necessity of proactive government intervention in implementing supportive policies that promote the adoption of technology among businesses. While acknowledging the presence of relevant policies, Tong highlighted the importance of effective policy implementation and monitoring to ensure that small businesses, in particular, are equipped to leverage technology for growth. He stressed the significance of ensuring that government-led training workshops and initiatives are aligned with the technological needs of today's businesses. Additionally, Tong emphasized the essential role of the private sector in facilitating the digital transformation of young companies by offering supportive pricing structures. He called for a collaborative effort between the government, private sector, and entrepreneurs to create an ecosystem conducive to technological innovation and business development. In a hypothetical scenario where he could engage in direct dialogue with the Minister of Communications and Technology, Tong outlined his wishlist for policy enhancements. He urged for a greater focus on integrating artificial intelligence into grassroots community projects and business operations, emphasizing the need for practical and technology-centric training programs for entrepreneurs at all levels. As South Africa continues to navigate the economic challenges exacerbated by the pandemic, Tong's advocacy for embracing technology as a catalyst for entrepreneurship resonates strongly. By bridging the gap between policy frameworks, private sector involvement, and entrepreneurial empowerment, the country can potentially witness a surge in tech-driven startups and sustainable business ventures. In conclusion, the call to action remains clear - to empower young entrepreneurs with the tools and knowledge needed to harness the power of technology and drive economic growth in South Africa.