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Africa is a continent with a lot of young people, and its economy can be developed through the use of digital technology, stated Moroccan Head of Government Aziz Akhannouch during the inauguration of Africa’s largest tech and start-up exhibition, Gitex Africa. The three-day event, which concluded last week, had more than 900 companies, government entities, start-ups, and participants from at least 100 nations across the globe.
Africa is a continent with a lot of young people, and its economy can be developed through the use of digital technology, stated Moroccan Head of Government Aziz Akhannouch during the inauguration of Africa’s largest tech and start-up exhibition, Gitex Africa. The three-day event, which concluded last week, had more than 900 companies, government entities, start-ups, and participants from at least 100 nations across the globe.
Africa’s digital economy is expected to be worth $712 billion by 2050. However, for this to happen, the continent must invest more in digital infrastructure, business-friendly settings, education, and youth motivation. Infrastructure is the key to development, and in that case, the digital economy needs suitable infrastructure and the promotion of innovation, as well as a friendly business environment to attract more investors. Considering the economic crisis and the great changes that the world is witnessing today, digital technology has become an important and unparalleled pillar for economic development globally, especially on the African continent, stated the Moroccan Prime Minister.
Currently, Africa’s Gross Domestic Product (GDP) is $3.1 trillion, with digital contributing approximately $200 billion, but stakeholders believe the continent has enormous potential to become the heart of the digital economy in the future years. Agritech, manufacturing, fintech, logistics, e-commerce, and automation through the use of artificial intelligence across all economic activities appear to be fuelling that rise.
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During the discussion, Uganda’s minister of Science and Technology Innovations, Dr Monica Musenero, said Africa should focus on building platforms that enable rapid acceleration of the development of technology. Africa must also build the biggest resource, which is human capacity, for us to be able to rapidly identify needs and develop technologies that address our cultural and social-economic fits.
