Economy : World Bank Accompanying African Countries To Digitalization.

Economy : World Bank Accompanying African Countries To Digitalization.

Integrated and Competitive Market Needed For Realization.

The Sum of over 2.6 billion US dollar to boost the GDP can be generated and almost 4.5 million new jobs created in the six East African Community (EAC) countries if there is a deeply integrated and competitive digital market. Studies carried out by the World Bank reveals that, the potential of an integrated digital market in West Africa and at the continental scale can never be under minded.

In order to realize the dream, it is important for the World Bank to assist countries modernize and harmonized telecoms and data policies as well as regulate to promote regional scales investments in broadband and cloud infrastructure and widespread access to relevant digital content and services in lagging areas that have been concluded.

To gain success in the digitalization process, it would be expedient to streamline and harmonize business registration and digital taxation policies and enable fast, low-cost, reliable cross border digital so as to unlock digital trade and e-commerce. The need of a greater leadership, government collaboration, the involvement of the private sector and civil society like the African Union Commission (AUC), the Regional Economic Communities and Smart Africa is required for the complete digitalization of Africa.

The surfacing of COVID-19 has given room to handle inequality and promote strong economic growth. There is no gainsaying to the fact that, speeding Africa’s digital transformation is the best way to realize it. Thus closing the digital divide, building digital stacks and achieving a single digital market is required for the digitalization of Africa.

By Takang Bisong

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