Home / Finance & Economy / COM 2019: Digitization, a necessity for Africa’s economic boom

COM 2019: Digitization, a necessity for Africa’s economic boom

Digitization is a necessity for Africa’s economy and trade boom, said committee chairman of outgoing committee of 52nd conference of African ministers of finance, planning and economic development (COM2019), which continues until March 26 in Marrakech, Elsadig Bakheit Elfaki Abdalla.

“The economy, trade and capital of Africa must move towards the use of the new means offered by the era of digitalization which greatly facilitates the communication, the connection and the electronic commerce between the countries of the continent”, said Elfaki Abdalla in an interview.

Indeed, he continued, intra-African economic, trade and financial activities must imperatively benefit from this digital revolution, especially given Africa’s intention, with its various economic communities, to put in place a trading area, a market and common modes of transport.

Mr. Elfaki Abdalla noted that the project to create the African Continental Free Trade Area (AfCFTA) is making good progress. “There are few reservations about setting up this area, and every day a new African country ratifies the agreement to create it,” he said, adding that a project of this size usually requires a long reflection.

“There is no delay at this level and it is even better to go slowly, since disparities between African countries in terms of infrastructure still persist,” said Elfaki Abdalla, noting that some states want to be more prepared before joining a region or an expanded commercial market.

At the same time, he stressed the importance of having legal and legislative structures and means to create an adequate climate in the financial, trade and investment fields, as well as to improve the customs system.

Check Also

Financial Times praises the success of the automotive sector in Morocco

Over the years, Morocco has transformed itself into an automotive hub and ultimately aspires to …

Leave a Reply