In 2021, the combined GDP of Africa’s 54 countries was less than 15% of the United States’ GDP. The continent consists of many relatively small countries, economies, and markets, which is a disadvantage on the world stage, where countries with huge populations and GDPs wield the most influence.
Accelerating Digital Integration in Africa
It comes down to three factors: private sector partnerships, interoperable systems, and internet infrastructure.
September 07, 2023
HBR Staff; Unsplash; A Mokhtari/Getty Images
Summary.
Regional integration, similar to the European Union’s, has been cited as a key to creating stability, growing economies, improving market efficiency, sharing the costs of large infrastructure projects, and addressing peace and security. Deeper economic integration in Africa offers a pathway to shared prosperity and increased global influence. And since the world is becoming more digital every day, digital integration is vital to successful regional integration. Private sector partnerships, building interoperable systems, and focusing on the infrastructure for power and the internet are three key ideas that could help accelerate Africa’s digital integration.