Applying Modernisation Theory for Information and Knowledge Empowerment of Informal Sector Women Entrepreneurs in South Africa

The twenty-first century is heralding both exciting and challenging times ahead as we come to terms with the information and knowledge society and now the recent fourth industrial revolution and the advanced stage of development. While most developed economies are enjoying the numerous benefits of this era, it is posing new and serious challenges to many in the developing world. This society revolves around the use of information and communication technologies (ICTs). However, for many developing countries such as South Africa, with a larger bulk of informal sector entrepreneurs contributing to the gross domestic product, due to high unemployment rate, and grossly strive in their informal sector businesses, there are barriers in the interaction with such technologies for their entrepreneurs. This is so much that it is not always possible for these countries and this group of entrepreneurs to harness potential benefits such as accelerated growth, empowerment and sustained development brought about by ICTs. The way this could be achieved is for the informal sector women entrepreneurs (ISWEs) to leapfrog and emulate the Western world through adoption, relating and application of some aspects and stages of modernization theory to their undertakings. The chapter adopts a systematic meta-analysis, particularly, preferred reporting items for systematic reviews (PRISMA) to demonstrate that modernization theory could be applied for economic development and rapid transformation and advancement of businesses of ISWEs in South Africa. The chapter shows that the information and knowledge society is closely tied to modernity and there is the link between this society and the availability of ICTs. It has been argued in this chapter that modernity and the information and knowledge society, basically present the shift and transitions from traditional way of conducting and managing informal sector businesses, through ICTs which could bring about development, progress and advancement of developing communities, particularly informal sector women entrepreneurs (ISWEs). This chapter has further shown how the Modernization Theory could be applied in the plight of ISWEs to assist them leapfrog from their situation and enjoy global business platforms. The chapter supports the 8th sustainable development goals (SDGs) on decent work and economic growth. In addition, the results can inform research, address SDGs Agenda 2030 and empowerment of ISWEs.