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The banking group says telecommunications and technology are poised to be the driving forces behind sustainable socioeconomic development on the continent.
Asafu-Adjaye gives insight into the AU’s digital transformation strategy. She says its objectives include building a secure digital single market, ensuring digital empowerment for all citizens and creating a harmonised environment for investment and innovation.
Moyo says mobile money has emerged as a powerful tool for promoting financial inclusion and driving economic growth in Africa. She explains developments in different parts of Africa in terms of technology and regulation that aim to address the development agenda.
The panel also discusses the various agendas jostling for attention in Africa’s digital transformation.
In countries such as Ghana, the growth of mobile money has led to a big improvement in financial access and inclusion. However, the imposition of taxes and levies on mobile services, such as the E-levy in Ghana, poses risks to the affordability and accessibility of mobile money services.
“Balancing the need for revenue generation with the goal of promoting financial inclusion is crucial for sustaining the momentum of digital transformation. Telecommunications and technology have the potential to catalyse sustainable development and inclusive growth in Sub-Saharan Africa.”
Business Day Spotlight is a MultimediaLIVE Production.
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