The World Bank has instructed Nigeria and other African countries to focus on digital development as too many of Africa’s expanding youth population will be negated the opportunity to live up to their potential with the recent incremental pace of economic and social advancement.
This was contained in a new report by the Washington-based bank titled, “The digital economy for Africa initiative.”
Digital technologies offer a recourse to unlock new pathways for rapid economic growth, innovation, job creation and access to services that would have been unimaginable only a decade ago.
According to the report, access to the Internet however remains out of reach for most people in the continent, with only 22 per cent reporting having access in 2017.
“Too few citizens have digital IDs or transaction accounts – locking them out of access to critical services and e-commerce. Digital startups struggle to attract funding and ‘traditional’ businesses are only slowly adopting digital technologies and platforms to boost productivity and sales,” the report read in part.
The report also hinted that few governments were investing strategically and systematically in developing digital infrastructure, services, skills and entrepreneurship.
The report further read, “To become tomorrow’s innovators, entrepreneurs and leaders, Africa’s youth need to be empowered with the digital skills and access to technology and markets that are essential to thrive in an increasingly digitized global economy.”
“Governments need to find more nimble and effective means of delivering services and interacting with citizens. Businesses need to utilize digitally-centred business models to connect with the hundreds of millions of customers previously out of reach due to geography or low income.”
It added that Africa has the opportunity to harness the digital economy as a driver of growth and innovation, but if it failed to bridge the digital divide its economies risked isolation and stagnation.
