Still struggling with building the single digital market in Europe, EU from this experience is now helping Africa to unleash the transformative power of e-commerce on the continent. This should be seen in the light of that e.g. a 10% increase in internet access gives a 1.2% push to per capita gross domestic product (GDP). In some parts of Africa, the broadband access is as low as 16%, which means that increased connectivity has extraordinary potential for the continent to take major leaps of economic development in general and grow flourishing digital businesses much faster. Today, digital business stands of 5% of Africa’s GDP, while the African Union is aiming to have tripled this figure by 2040. EU Commissioner Mariya Gabriel commented in the following way: “Creating a single digital market was the EU’s response to the challenges posed by the digital transformation in our society and in our economies. We want to support our African partners with the goal of creating a Pan-African digital market, allowing citizens and businesses to fully benefit from the opportunities offered by the digital revolution.” Source: UNCTAD.org
Developing a Digital Market in Africa
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