POST PANDEMIC GLOBAL ECONOMY:

Africa Digital Economy and Technology Forum is an arm of Research and Development Publications, Lagos Nigeria. The primary focus of the Forum is to conduct research and surveys in the fields of digital economy and technology with a view to bridging the digital divide in Africa.

Before the covid-19 pandemic, Africa’s digital transformation was already having massive impact on the region’s economies. Financial technologies have given rise to new ways of delivering services, particularly in facilitating payment and lending; it promotes financial inclusion in many countries. Digitized, networked, and intelligent information and communications technologies (ICTs) enable modern economic activities to be more flexible, agile, and smart.

While Africa continues to benefit from digital transformation, understanding the digital economy remains a challenge because of its complexity. Digital transformation is about not only big data and digital platforms but also how those advanced technologies can be utilized to maximize opportunities for innovation, new business models, processes, smart products and services.

Further, the digital economy is allowing regional businesses to move away from the local into the global, in keeping with the long-term trends toward market liberalization and reduced trade barriers.

However, given the widening digital skills gap and differences in the level of regulations and infrastructure in Africa, not all countries can take full advantage of the benefits offered by the digital economy. Many times, people in less developed African countries do not have access to basic online account, be it due to lack of digital devices, nationally accepted forms of identifications, or socioeconomic barriers. To create more inclusion in the digital economy, there needs to be a deep understanding of the differences in access and adoption within the populations of different countries. New issues related to trust, privacy, and transparency also need to be addressed as Africa’s digital transformation intensifies.

The digital economy has the potential to radically change the social environment and economic activities of Africa. It is already experiencing high growth, rapid innovation, and broad application to other economic sectors. However, despite the vast opportunities presented by the digital economy, Africa has not yet fully realized the potential of harnessing digital technology for sustainable development, due to (among others) poor ICT infrastructure, inadequate skills development, and socioeconomic barriers that prevent much of Africa’s population from engaging in the digital economy.

Objectives

• Promote a better understanding on the role of the digital economy in Africa, particularly how digital technologies impact African economies and transform both business practices and societies.
• Examine how institutions, policies and regulations, and human skills can be transformed to keep up with the quickening pace of digital transformation in Africa.
• Exchange views on the current state of the digital economy in Africa, including issues related to digital flows; e-commerce; financial technology; the role of education, skills, and innovation on digital economy; and implications of digital transformation on Africa’s economic landscape.