Weak Digital Economy Hindering Nigeria, Other’s Growth – World Bank

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The World Bank has advised Nigeria and other African countries to focus on digital development as too many of Africa’s expanding youth population will be denied the opportunity to live up to their potential with the current incremental pace of economic and social advancement – The digital economy for Africa initiative.

Digital technologies offer an opportunity to unlock new pathways for rapid economic growth, innovation, job creation and access to services that would have been unimaginable only a decade ago.

According to the report, access to the Internet however remains out of reach for most people in the continent, with only 22 per cent reporting having access in 2017.

“Too few citizens have digital IDs or transaction accounts – locking them out of access to critical services and e-commerce. Digital startups struggle to attract funding and ‘traditional’ businesses are only slowly adopting digital technologies and platforms to boost productivity and sales,” the report read in part.

-Punch

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