BUSINESS NEWS
TECHNOLOGY
CONTEXT
The new technologies sector possesses substantial potential when integrated with various domains such as education, agriculture, healthcare, banking, transportation, and energy, among others. However, the level of technological development remains relatively low. Below are several ideas designed to help refine your strategic vision in this area.
SOME BUSINESS OPPORTUNITIES
Find below some business ideas to help you unlock your vision and explore untapped potential.
Fintech
The Central Bank of São Tomé and Príncipe recognizes the critical role of financial technology (fintech) in promoting financial inclusion, fostering innovation, and personalizing financial products and services within the country. The Bank has been actively engaging in initiatives that encourage the development of fintech to keep the market relevant and enhance the competitiveness of the financial services sector. Currently, this sector remains predominantly conventional, except for a few banking institutions that provide basic services such as balance inquiries, online transfers between accounts within the same bank, and card payment options. This existing gap presents a significant opportunity for technological innovation in the financial sector. Business models focused on personalized financial management, national and international interbank transfers, cashless payment solutions, crowdfunding, mobile money platforms, and digital technologies for services such as automated financial planning demonstrate substantial potential for success.
Agricultural Technology
São Tomé and Príncipe is predominantly an agricultural country, renowned for its exceptional products like cocoa, which is celebrated globally and recognized as one of the finest varieties. The nation's agroforestry system has earned the distinction of being an Important World Agricultural Heritage System (SIPAM). With the backing of the FAO and a commitment from the government, São Tomé and Príncipe is embarking on a significant agro-ecological transition, positioning itself as the African leader in organic farming with a focus on high-quality products for discerning markets. This transformative journey underscores the agricultural sector's potential to embrace innovations that promote sustainable and efficient farming practices, including high-tech greenhouses, solar energy solutions, and advanced monitoring systems, biopesticide, biofertilizers, technologies that determine what nutrients the plants need, among others.
Internet of Things
The Central Bank of São Tomé and Príncipe recognizes the critical role of financial technology (fintech) in promoting financial inclusion, fostering innovation, and personalizing financial products and services within the country. The Bank has been actively engaging in initiatives that encourage the development of fintech to keep the market relevant and enhance the competitiveness of the financial services sector. Currently, this sector remains predominantly conventional, except for a few banking institutions that provide basic services such as balance inquiries, online transfers between accounts within the same bank, and card payment options. This existing gap presents a significant opportunity for technological innovation in the financial sector. Business models focused on personalized financial management, national and international interbank transfers, cashless payment solutions, crowdfunding, mobile money platforms, and digital technologies for services such as automated financial planning demonstrate substantial potential for success.
