World Bank calls for adoption of digital technologies to spur economic growth in Africa - Capital Business
Connect with us

Hi, what are you looking for?

Top Story

World Bank calls for adoption of digital technologies to spur economic growth in Africa

NAIROBI, Kenya, March 14 – The ability of African countries to accelerate economic growth and unleash quality jobs for the youth will be dependent on greater adoption of digital technologies, the World Bank said in a report launched Monday.

Under the title of “Digital Africa: Technological Transformation for Jobs,” the World Bank report stresses that sustained efforts to bridge the digital divide in Africa are imperative in order to leapfrog the continent to a new phase of growth and renewal.

World Bank’s Chief Economist for Africa Andrew Dabalen said rapid digitization will enable Africa to harness the full potential of its youth bulge and attain quality and inclusive economic growth.

“Projected to have the largest share of the global workforce by 2100, Africa must boost the uptake of digital technologies in order to create opportunities for more than 22 million people in the continent to join the workforce annually,” said the report.

Across the continent, the report notes that internet usage varies with South Sudan recording a low of six percent and South Africa hitting 53 per cent, necessitating the need for rapid investments, policy reforms, and training as a means to bridge the digital divide across the continent.

The World Bank said digital technologies and innovations will be key to modernizing key sectors like manufacturing, agriculture, and financial services in Africa, calling for concerted efforts to bridge the digital divide weighing heavily on the rural poor as well as start-ups led by women and youth.

Visited 1 times, 1 visit(s) today

More on Capital Business

Kenya

NAIROBI, Kenya, Nov 26 – The Government has been urged to reform the fertilizer subsidy programme to give farmers more freedom to choose products...

Kenya

  Click here to connect with us on WhatsApp NAIROBI, Kenya, Nov 25 – Kenya’s widening fiscal vulnerabilities have become the most urgent threat...

Kenya

NAIROBI, Nov. 25 (Xinhua) — The World Bank on Monday lifted Kenya’s 2025 economic growth projection to 4.9 percent, an upward revision from 4.5...

Kenya

NAIROBI, Kenya, Nov 24 — Kenya’s sustained surge in domestic borrowing is increasingly squeezing the private sector’s access to credit, a new World Bank...

Kenya

President William Ruto heads to Parliament under pressure over debt, revenue gaps, slowing growth, and rising economic risks. Here’s a breakdown of Kenya’s key...

Enterprise

Kenya Development Corporation invests Sh500 million in Githunguri Dairy Cooperative under the World Bank-backed SAFER Programme, aiming to expand MSME access to long-term credit...

Kenya

NAIROBI, Kenya, Nov 6 – Frequent internet shutdowns across Africa are threatening economic growth, eroding investor confidence, and stifling innovation, the digital rights group Paradigm...

Top Story

NAIROBI, Kenya, Oct 9 – The World Bank (WB) has recommended that Kenya raise excise taxes on alcohol, tobacco, and sugar-sweetened beverages to help...