conference

Africa Knows! It is time to decolonise minds

Home Theme Presentations Blogs Podcasts Country profiles Kora and films

Home | Presentations | Panels and papers

Accepted Paper: G42-01. To panel G42.

Title of paper:

Author:

Samuel Igbatayo (Afe Babalola University).

Long abstract paper:
Africa is at the dawn of a technological revolution, driven by the digital economy, which is unleashing an unprecedented transformation across the continent. Against the backdrop of its young and dynamic labour force, as well as its untapped markets; the digital revolution presents unprecedented opportunities. A survey conducted by Kenza (2016) reveals that across the region, a silicon valley-inspired network is arising, with the existence of about 200 African innovation hubs, 3,500 new tech related ventures and US$1 billion in venture capital to a pan-African movement of start-up entrepreneurs. The survey also reveals the rise in Venture Capital disbursements to African Tech Startups, increasing from over US$40 million in 2012 to more than US$600 million in 2018. In the emergent digital transformation systems unleashed in African markets, the youth have a considerable opportunity to shape and influence the digital economy across the continent. The African Development Bank (AfDB), in collaboration with partners - The Rockefeller Foundation, Microsoft and Face book - launched an initiative aimed to prepare Africa's youth for tomorrow's jobs, unleashing the next generation of young digital innovators from the continent. The initiative, established in 2018, aims to leverage training of youth in demand-driven information and communications Technology (ICT) curriculum and matching graduates directly with ICT employers to create more than 9 million jobs, targeting 32 million youths and women across Africa. According to the AfDB (2018) report, the Coding for Employment Programme lies at the heart of the bank's jobs for Youth-in- Africa Initiative, which focuses on putting Africa's youth on a path to prosperity. The digital economy in Africa holds considerable prospects for economic growth and development. The economic impact of digital transformation in Africa is significant and rising, with mobile technologies and services generating 6.7% of Africa's GDP in 2015 and contributing about US$150billion of economic value. The digital economy in Africa holds considerable potential for youth employment. Against the backdrop of its young and dynamic labour force, as well as its untapped markets; the digital revolution presents unprecedented opportunities. However, in order to maximize the potential of the digital economy for youth employment, policy makers need to upgrade digital infrastructure, deepen partnerships with the private sector and the global community for the mobilization of resources critical for digital transformation in Africa.