Global Voice Group's solutions have assisted countries to optimise the revenue generated by international incoming telecom traffic for innovative financing.

CAPE TOWN, WESTERN PROVINCE, SOUTH AFRICA, December 17, 2015 /EINPresswire.com/ -- Technology was not developed as a development tool, yet it has become one of the greatest vehicles for change[1]. Over the past decade, technology has transcended poverty, race and economics to become a driving force in the lives of people across the world. More than two billion people now have access to the Internet and five billion have mobile phones. Increasing digital technology use could add more than US$ 1 trillion to the world economy by 2020, with the greatest impact in emerging economies, according to a recent study[2].

For all these gains, over a billion people in less developed countries remain in extreme poverty living on less than US$1.25 a day[3]. Can digital technologies succeed in reaching and benefiting the world’s poor where previous attempts have failed?

We need to find new ways to achieve greater impact at lower cost. Advances in mobile technology and digital connectivity provide unparalleled opportunities to deliver social impact and economic returns to millions of people in developing countries, while engaging new actors in the development process. The “digitisation” of developing economies could yield as much as a US$ 4.1 trillion increase in GDP among the most underserved 3.9 billion consumers[4]. Promising signs are already being seen in Africa, where with new business models, countries are leapfrogging older technologies to create digitally enabled solutions for local populations.

Global Voice Group (GVG) has made it its mission to help African countries like Ghana, Guinea-Conakry, Central African Republic, Tanzania, Rwanda, Liberia, Togo, and Congo-Brazzaville harness the financial potential of a crucial sector of their economy: telecommunications. The leveraging of international incoming calls as an innovative funding mechanism has become an important part of their economies.

GVG’s cutting-edge telecommunications governance solutions have assisted countries to optimise the revenue generated by international incoming telephone traffic so as to ensure that fraud is eliminated and both the local operators and the government collect their fair share of the revenue.

The public revenues the governments of these countries have been accruing from incoming international calls are a very good example of the benefits of “innovative financing mechanisms.[5]” In this way, African and other governments are empowered to take charge of their own socio-economic future through the smart integration of ICTs. There is a whole range of revenue-generating opportunities which can expand the reach of digital connectivity. These do not rely on foreign aid, nor do they entail any debt for the government. These revenues can be used to finance projects to meet the respective countries’ specific development goals.

Jamaica finances universal Internet access
One example of this is how Jamaica has financed universal Internet access through a micro-surcharge of on incoming international calls to all telecoms lines[6]. Building the ecosystem to allow participation in the fast-growing digital economy is one of the most powerful drivers for future employment and economic prosperity in any developing country.

The innovative financing for development (IDF) approach supports governments in their efforts to achieve their development goals in line with their own national priorities and needs. Governments can identify new sources of revenue, which must be leveraged, unlocked and protected through a multi-partnership approach. Micro-surcharges have the potential to unlock significant amounts of finance to fund large development projects, but there is minimal impact on service providers.

Innovation is needed to meet the world’s ambitious development aspirations. Equally, bold decisions are necessary for countries wishing to enjoy continuous and sustainable growth through technical assistance mechanisms that can help catapult them into a scenario where they can capitalise on best practices and next generation solutions for their development needs.

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[1] Kelly, Annie: Technology can empower children in developing countries – if it’s done right, Guardian, article sponsored by UNICEF.
[2] Accenture/Oxford Economics Strategy Paper: Digital density index: Guiding digital transformation. How governments and business leaders can measure and manage digital strategies to drive US$ 1.36 trillion in growth.
[3] World Bank definition.
[4] Booz Allen Hamilton, Third International Conference: Financing for Development, 13-16 July,2015, Addis Ababa, Ethiopia
[5] Any financing mechanism other than Official Development Aid (ODA)
[6] US$ 0.3 per minute on incoming international calls to fixed lines and US$ 0.2 on calls to mobile lines.

Kerry Slack
Global Voice Group
0214257609
email us here

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