Africa’s digital economy to create 230 million new jobs by 2030 – Report
Africa’s collective digital economy has experienced a remarkable surge, tripling in value from $30 billion in 2012 to $99.7 billion in 2019, with projections pointing towards a near doubling to $180 billion by 2025 says the 2023 Commonwealth report themed “Energising Africa’s Digital Economy: Cross-Border Data Flows and the African Continental FTA.”
This substantial growth is reflected in the impressive expansion of Africa’s digital services exports, which have soared from $9 billion in 2005 to an impressive $33 billion in 2022, surpassing the growth rates of more traditional export sectors over the same period.
The catalysts behind this exponential growth can be attributed to the rapid increase in bandwidth availability, the widespread adoption of affordable internet-enabled mobile devices, and the expanding engagement with the digital economy. Notably, the number of e-commerce consumers in Africa has exhibited an annual growth rate of 21 percent since 2014, nearly double the global average.
Per the report, Africa’s share of digitally deliverable services in total services exports has experienced remarkable progress, rising from 17 percent in 2005 to 33 percent in 2021. This growth outpaces any other region, emphasizing Africa’s increasing prominence in the digital services sector.
The implications of this booming digital economy are substantial, as it is projected to generate a staggering 230 million new jobs in Africa by 2030, according to the African Union, African Development Bank, and United Nations Economic Commission for Africa.
As Africa continues to embrace the digital revolution, the continent stands poised to unleash its vast potential for economic growth and job creation. With rapid advancements in digital infrastructure, increased connectivity, and a thriving digital services sector, Africa is establishing itself as a significant player in the global digital landscape.
