IQbusiness and Business Unity South Africa (Busa) have launched an initiative aimed at moving South Africa into economic recovery and digital growth.

The SAtion initiative will enable public and private sector stakeholders, including government, large corporations, small, medium-sized and microenterprises, industrialists, private investors, thought leaders and educational institutions, to convene to discuss, coordinate and implement Fourth Industrial Revolution (4IR) projects.

“In this way, the initiative will ensure that public decision-makers and private sector entities are working together towards swift and sustainable economic growth in a twenty-first-century context, rather than working against each other,” the parties said in a statement.

SAtion envisages growth enabled by technologies such as artificial intelligence, data science, cybersecurity solutions, rapid payment systems, online State-citizen interfaces and advanced hardware infrastructure.

The implementation of these efficiency-enhancing tools will be underpinned by upskilling initiatives in formal education and will include assisting small businesses and entrepreneurs to take advantage of new technologies.

The coordinated, broadscale digital approach will accelerate the growth South Africa needs, while ensuring that growth is inclusive and sustainable into the future in a rapidly advancing world.

“The transition to a digitalised economy is a critical element of the Economic Recovery Strategy document developed by Busa through the Business for South Africa platform. We consider SAtion to be the instrument and tool that is the beginning of this journey. SAtion will enable us to ensure a digitalised economy contributes to inclusive growth and the development of our people,” said Busa CEO Cas Coovadia.

“Our vision for South Africa to become a digital nation stems from the knowledge and awareness of the benefits that come with digital transformation. While times may seem tough now for our country and our citizens, there is an LED at the end of the tunnel,” added IQBusiness CEO Adam Craker.

SAtion ecosystem leader Dimakatso Matshoga said that, like any of the three prior industrial revolutions, SAtion intends to bring about vital change and socioeconomic upliftment.

“SAtion will help ensure that the 4IR pragmatically supports black industrialists and entrepreneurs. In this way it will enable economic transformation through bridging the current digital divide.”

Busa and IQbusiness are confident that the SAtion initiative will play a crucial role in the creation of a prosperous and digital economy in South Africa.