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eBusiness Life Magazine > Blog > NewsBytes > Improved Digital Infrastructure To Drive Africa’s Economic Growth – OADC Boss
NewsBytes

Improved Digital Infrastructure To Drive Africa’s Economic Growth – OADC Boss

Ebusiness Life
Last updated: 2024/09/08 at 1:59 PM
By Ebusiness Life
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The Chief Executive Officer of Open Access Data Centre (OADC), Ayotunde Coker, has called on African countries to collaborate on building digital infrastructure in a bid to closing the gaping economic prosperity gap.

Speaking at the ‘Hyperscalers Convergence Africa’ forum on Thursday in Lagos, Coker maintained that African countries have the potential to equally compete with other western nations by scaling their digital infrastructure.

The inaugural Hyperscalers conference was organised by Africa Hyperscalers Media and was aimed at uniting the continent’s digital infrastructure community.

Coker stated that Africa accounts for about 17% of the world’s population but contributes only around 4% of the global GDP. This disparity, which he termed the prosperity gap, is closely linked to Africa’s underdeveloped digital infrastructure.

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For instance, nine submarine cables deliver internet capacity to Nigeria’s shores, but a 90,000-kilometer fiber infrastructure gap results in slow and unreliable internet access in the country. Gaps like this hurt the economic potential of the most populous African nation.

“Meaningful broadband connectivity, which is measured by speed, latency, and cost, is necessary for economic development,” he stated.

He urged governments and businesses to focus on expanding fibre networks and improving broadband services to support digital growth. He noted the role of supportive regulations, arguing that while some African countries have made progress in implementing regulations for the digital economy, more needs to be done.

“There needs for collaboration between governments, regulatory bodies, and the private sector to create an environment that fosters investment in digital infrastructure,” Coker stated.

He acknowledged ongoing efforts in Nigeria and across the continent to improve visibility and support for digital projects but warned that progress would remain limited unless the underlying infrastructure gaps were addressed.

“Africa must light up its dark digital spine,” Coker stated, emphasising the need for revolutionary efforts to drive corporate adoption of digital infrastructure and broadband connectivity. “Without these steps, Africa’s economic growth would continue to be stifled by its underdeveloped digital landscape,” he added.

Also corroborating Coker, the chief executive officer of Remita Payments, Deremi Atanda, noted that connectivity can transform Africa’s innovation and economy.

During a panel session themed ‘Innovating Towards Africa’s Digital Future,’ he stressed that the continent’s prosperity lies in the strength of its digital infrastructure.

“The prosperity of Africa is dependent on the quality of our digital infrastructure. Connectivity has the power to redefine Africa’s innovation,” Atanda said.

He explained that the ability of Africans to take responsibility for their own challenges will only improve with better digital infrastructure. “We must respond to Africa’s needs when it comes to digital infrastructure. It will enable Africans to better understand their problems and improve their quality of life across the continent.”

Senior Writer for Business, and Big Tech at TechCabal, Frank Eleanya, acknowledged that while efforts have been made to improve digital infrastructure, there has been a lack of leadership to fully realize these goals.

“What’s needed is the leadership to make it all happen. We have the capacity, but leadership must wake up and translate all these plans into reality,” Eleanya said.

Wabo Majavu, pointed out that involving communities in Africa’s innovation journey requires monitoring and measuring impact. “When you look at the opportunities, there’s a need to talk about access,” Majavu noted.

Ebusiness Life September 8, 2024 September 8, 2024
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