The African Development Bank is increasing partnerships to help the continent position itself to take full advantage of the digital revolution in the world, crucial for development in the coming years.
On the sidelines of the Africa Tech Festival recently held in Cape Town, South Africa, the African Development Bank and the US Commercial Service agreed to hold discussions on the contribution of American digital innovation to African development goals . They will focus on themes such as the adoption of new technologies, improving Internet access, establishing a regulatory framework conducive to innovation, and strengthening skills.
The collaboration will lead both parties to explore ways to establish a partnership between African authorities and American technology companies with the aim of developing the continent's economies. It will also examine the extent to which American companies can exploit the opportunities offered by emerging markets in Africa.
“ We are at a turning point in Africa’s technological evolution. By combining the knowledge of the US private sector with the continent's dynamic markets, we aim to drive innovation and economic growth, ” commented Ashley Ndir, Head of Trade Liaison with the AfDB.
The initiative taken with the global network of business experts responsible for promoting foreign direct investment in the USA is part of the AfDB's digital development strategy to support African countries in their digitalization objectives, informs We Are Tech Africa .
The banking institution notably provided the said countries with an envelope of 2 billion USD for the development of digital infrastructure, including the regional and national development of broadband, the development of digital skills, the creation of political environments favoring investments of the private sector, and the promotion of innovative businesses.