Digital transformation has become a central pillar for the success of the African Continental Free Trade Agreement (AfCFTA), according to Mr. Kelvin Jiraji, Co-Chair of the G20 African Digital Economy Summit (AfriDES). Introducing the summit, which will be held on the sidelines of the G20 Summit in São Paulo, Brazil, Mr. Jiraji highlighted the critical importance of digital transformation for the continent.
Mr. Jiraji stressed that “digital transformation is critical for the continent, particularly to accelerate the African Continental Free Trade Agreement.” He emphasized the increasing expansion of technologies and digital transformation, stressing the need to recognize the ecosystem dimensions of the digital economy value chain and the urgency of integrating into its superstructures.
The Co-Chair highlighted that digital trade is now a reality and that Africa would benefit immensely from digital transformation, especially through payment platforms that would facilitate cross-border trade, thereby fostering intra-continental trade in the region.
The theme of AfriDES, “Digital Transformation for Sustainable Growth: Africa’s Path to a Connected Future”, is particularly relevant in the current context. Africa can no longer afford to play catch-up. The Summit aims to foster robust commitments, harness collaboration and partnership with heads of government, policymakers, fintech providers, innovators, entrepreneurs and a wide range of stakeholders and key industry players across the world.
Highlighting the importance of digital economy resilience for Africa, Mr. Jiraji stressed that it is the driving force behind the implementation of economic and trade policies and programmes, both in the public and private sectors. He also highlighted the crucial role of the summit in strengthening Africa’s institutional framework to achieve its digital economy policy and strategy objectives.
The summit will bring together leading fintech entrepreneurs, digital economy policymakers and regulators, and other strategic professionals to enrich the debate on the digital economy in Africa and beyond. The four-day summit is expected to open new opportunities for economic regeneration and other investment opportunities that create wealth, provide employment opportunities and drive development in Africa.
In conclusion, the resolutions of this summit will undoubtedly inject new ideas and initiatives into the policy planning architecture, thus reinforcing a systematic and collective framework for achieving the priority objectives of the digital economy.