CAPE TOWN – Leveraging technology is one of the best ways to move South Africa forward. This according to Lee Naik, the chief executive of Transunion, the oldest credit bureau in Africa.
Naik was a keynote speaker yesterday at the opening of the AI (Artificial Intelligence) Expo Africa 2018 conference, which ends today at the Century City Convention Centre.
Naik’s discussion centred on solving problems that matter using AI, and he presented delegates with six numbers impacting South Africa’s economic statistics.
South Africa was provisionally declared the most economically corrupt country in the world, followed by Kenya, which claimed second spot.
The country’s gross domestic product (GDP) had gone backwards by 0.7 percent in the past quarter, an improvement from the previous quarter’s –2.6 percent. The average rate of inflation is 4.3 percent this year. South Africa’s unemployment rate is 27 percent.