MTN Chairman, Mcebisi Jonas, highlights Africa’s digital infrastructure investment plan, projecting over $12 billion by 2030.
Speaking at the CEO Forum in Rwanda, Jonas emphasized the transformative impact of digitization and the fourth industrial revolution (4IR) on Africa’s economic prospects. He stressed the need for robust digital infrastructure, including radio access networks, fibre, and data centres, crucial for supporting these advancements.
Jonas highlighted the African Development Bank’s forecast that precision agriculture and food technology could drive a $1 trillion industry by 2030. Additionally, retail tech (e-commerce), clean tech, telemedicine, edu-tech, and fintech are identified as key growth areas, poised to catapult the continent’s economic growth.
The success of these initiatives, Jonas noted, hinges on policy improvements across Africa. He commended Ghana for its commitment to fiscal consolidation and Nigeria for recent reforms in gasoline subsidy and foreign exchange rates, despite facing inflationary pressures.
Moreover, Jonas underscored the importance of governance reforms and reducing trade barriers, as evidenced by the growing participation of African countries in the African Continental Free Trade Area.
Jonas concluded by highlighting initiatives like Nigeria’s startup Acts, offering tax incentives to spur entrepreneurship, and the appointment of successful startup founders as ministers, signaling a shift towards strategic private sector engagement in national development.
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