African ICT Ministers, policymakers, and stakeholders have been urged to implement policy reforms within Africa’s ICT sector to harmonize better ICT policies for the continent’s digital economy.
Kenya’s Cabinet Secretary for Information, Communication, and Digital Economy, Eliud Owalo, highlighted that outdated policies are hindering investment in the continent’s ICT sector. He specifically pointed out the 30% local shareholding rule for foreign companies looking to invest in Kenya’s ICT sector as a barrier to foreign direct investment.
“In Kenya, we have successfully removed the 30% local content requirements for ICT companies. Why have laws that hinder foreign direct capital investment? Africa needs to attract foreign investment while safeguarding our local interests,” stated the CS.
Eng. John Tanui, Kenya’s Principal Secretary, State Department of ICT and Digital Economy, emphasized the importance of encouraging the development of digital platforms within Kenya and Africa. These platforms, he explained, should be local and indigenous to contribute to the economy.
The ICT Authority of Kenya noted that African innovators face challenges in scaling their products and securing capital for growth, often leading them to sell their innovations to foreign investors. To address this issue, policies supporting and protecting local innovators are crucial.
Africa’s digital marketplace requires robust policies, laws, and regulations aligned with the AU’s Agenda 2063 to attract foreign investment and empower innovators. Kenya will host the Connecter Africa Summit from April 21st to 24th to facilitate the harmonization of these policies.
CS Owalo emphasized the importance of aligning African efforts with the AU’s Agenda 2063 to transform the continent into a digital marketplace. The agenda focuses on developing transformative e-applications and services, particularly in intra-African broadband terrestrial infrastructure.
PS Tanui highlighted the significance of digital platforms in the global economy and the need for young Africans to engage with this space to become active participants.
The Connected Africa Summit 2024, scheduled for April 21st to 25th in Nairobi, will bring together African leaders, including Africa Union Chairperson (AUC) Moussa Faki Mahamat, World Bank President Ajay Banga, and Africa Development Bank President Dr. Akinwumi A. Adesina, to discuss the African tech agenda and their role in green technology and governance of generative AI for African realities in preparation for the UN Summit of the Future in September 2024.
