Browsing: Digital Skills in Africa

It feels very appropriate to talk about investing in disruptive innovation at a time when all of our lives have been so seriously disrupted by Covid-19.  

Many investors are drawn to the “retail” investments peddled by banks and insurers. Huge amounts of money are given to East African governments in the form of Treasury Bonds and Bills that pay between 9% and 15% per annum before withholding taxes are applied. And post-Covid what will your KES, UGX, ZAR, TZS or RFR actually be worth? And how safe do you think East African government debt will actually be? The default investment for many East Africans has traditionally been property but in a damaged economy property looks like the most illiquid of assets – and a likely victim of a global correction in prices.   

Of course there is a place for retail investments – low risk, short and fixed terms, average

The $130 Billion opportunity in digital skills in Sub-Saharan Africa

IFC in cooperation with L.E.K. Consulting released a new report showing the demand for digital skills in Sub-Saharan Africa is expected to grow at a faster rate than in other markets.

The report estimates that 230 million jobs in Sub-Saharan Africa will require digital skills by 2030, presenting investors and education operators with an estimated $130 billion opportunity to train the future workforce in digital skills. IFC launched the report, ‘Digital Skills in Sub-Saharan Africa: Spotlight on Ghana’, at the group’s office in Accra, Ghana. Nearly $4 billion of the opportunity in digital skills will be in Ghana.

The report sheds light on the crucial need for digital skills as a driver of economic growth and competitiveness across sectors in the region—from agriculture to services. The demand for digital skills is evolving and presents opportunities for different stakeholders to play a role, particularly the private sector.

The report finds