As the fourth industrial revolutions technologies intensify, cities are becoming smarter, new business models are emerging and informal enterprises are formalizing by default. Research demonstrates that the future of our world is decided by the quality of its future cities. As cities invest in information and communication technologies (ICTs) and embrace the Fourth Industrial Revolution (4IR) technologies to make life easier and solve many of the problems we face today, employment opportunities expand and citizens enjoy better lifestyle. This chapter will examine how the concept of smart cities is disrupting existing business models and creating new ones that have positively impacting Africa’s informal enterprise sector. The chapter leverages abundance theory to explain the emerging phenomenon in the nexus between smart cities, new business models and informal enterprises in Sub-Saharan Africa. The study finds that indeed the concept of smart cities is indeed facilitating new business models that are formalizing the informal sector.
Part of the book: Smart Cities