This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

IBM Report: Technology Holds The Key To Economic And Social Reform In Accra, Ghana

Stocks in this article: IBM

ACCRA, Ghana, April 11, 2013 /PRNewswire/ -- IBM (NYSE: IBM) today announced the launch of a report entitled " A Vision for Smarter Growth: an IBM Smarter Cities Report on Accra, Ghana " that highlights how the rapidly emerging West African city should turn to technology to transform its key urban systems. Based on the opinions of local experts from across public and private sectors and civil society, the report identifies city services, transportation, and energy as essential for Accra's urban reform.

(Photo:  http://photos.prnewswire.com/prnh/20130411/NY93166 ) (Logo:  http://photos.prnewswire.com/prnh/20090416/IBMLOGO )

According to the International Monetary Fund, Ghana is one of the fastest growing economies in the world, driven by an emerging oil and gas industry, a growing base of consumers and significant foreign investment. Its capital, Accra, is one of Africa's fastest emerging cities. According to Mastercard's African Cities Growth Index, Accra is ranked Africa's top city in terms of economic potential over the next five years. Accra has also experienced significant demographic growth, the city's population expanding by over 1 million people – a 35 percent increase in the past decade, placing increasing strain on the city's resources.

"As Ghana's capital, Accra is emerging as one of Africa's economic success stories," said Alfred Vanderpujie, Mayor of Accra. "But such growth is not sustainable in the long term if we do not act now to put in place the systems and processes of the future. Technology is clearly one of the fundamental building blocks for creating a smarter and better functioning Accra."

The publication of the IBM report follows the launch of the Ghana government's National Urban Policy Framework and Action Plan, which is aimed at improving infrastructure and raising revenue in Ghana's cities to reduce poverty and tackle urban growth challenges.

"Cities across Africa are facing the dual challenge of rapid urban and economic growth," said Joe Mensah, Country General Manager of IBM Ghana. "IBM's approach is to enter a dialogue with key stakeholders and experts on the ground to understand the challenges and explore where technology can be successfully applied to transform the systems on which our cities depend. The scale of Accra and its challenges creates a manageable environment for implementing smarter systems that could really improve lives and business."

Transforming City ServicesRising numbers of residents place increased strain on existing resources and require more effective delivery of city services such as water, sanitation, refuse, public safety, education and healthcare. The Government of Ghana sees improved revenue collection as key to Accra's transformation and its ability to fund investment across all of the city's systems – a key part of the country's Urban Policy Framework and Action Plan:

"We estimate that Accra loses up to 50 percent of its current revenues to fraud or underpayment by residents," said Lydia Sackey, Metro Director of Budget, Accra Metropolitan Assembly. "Revenue generation is key to improving city services in Accra. Quite simply, if we don't raise enough revenue, we are not able to perform our functions and produce enough services for people in the city."

The IBM report highlights how mobile payment systems could help make the process of paying taxes easier for Accra's residents in the future. Hosting city services in the cloud would translate to more transparent and cost-effective municipal service delivery and an online platform for cataloguing property values could lead to a substantial increase in property tax revenues.  Big Data analytics could help city authorities more easily identify cases of tax under payment or fraud.

The Transportation HeadacheLike all African cities which are currently experiencing rapid rates of urbanization, transportation is one of Accra's key challenges with growing numbers of citizens and vehicles placing increasing pressure on the city's road networks. With 90 percent of all transport in Accra by road, traffic jams have a negative effect on many other areas such as business, emergency response, the environment, education and healthcare.

The IBM report lists a number of areas where technology can help. While the long-term goal should be the construction of a modern mass public transit system, instrumented, interconnected and intelligent technologies can help in the meantime to form the basis of a smarter transportation system. Smart and networked traffic lights could help to ease the flow of traffic through the city. Cameras and social media technologies could help monitor the road network and provide intelligence to decision makers. By using Big Data technologies to analyze mobile phone data, city officials could gain a clearer view of how people move around within the city and how the existing transportation systems could be enhanced.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,677.90 +216.58 1.32%
S&P 500 1,950.82 +23.71 1.23%
NASDAQ 4,452.7920 +69.9450 1.60%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs