- Smart Africa represents over 815 million people and more than 40 Private Sector members committed to Africa’s vision and advancement.
- The Annual Investment Meeting (AIM) tops in platforms offering a powerful and flexible combination of virtual and live environments in the world.
- The International Telecommunication Union reports that an increase of 10 per cent of broadband connectivity results in an increase in the GDP per capita by 2.5 per cent.
Smart Africa and the United Arab Emirates’ Annual Investment Meeting (AIM) have reached a Memorandum of Understanding to stimulate Africa’s digital transformation investment.
The signed partnership opens an avenue for Smart Africa and AIM to collaborate on future core events to promote dialogue that will create progressive development agenda.
Who is Smart Africa?
Smart Africa is an association created by the head of States in Africa, global organisations and international private sectors that target revolutionising Africa’s digital platform. A commitment from 32 African countries to accelerate sustainable social-economic development usher Africa into a knowledge economy through affordable access to Information and communications technologies and broadband usage.
Smart Africa represents over 815 million people and more than 40 Private Sector members committed to Africa’s vision and advancement.
Read: Dubai: Annual Investment Meeting opens new horizons for global economic growth
Smart Africa aims at creating a single digital market in Africa by 2030. The alliance is also crucial to the unity of Africa by bringing African leaders together who seek to accelerate digitisation in the continent.
The seven-member countries that initiated Smart Africa, chaired by President Kagame, include Rwanda, Kenya, South Sudan, Uganda, Mali, Gabon and Burkina Faso.
What the UAE’s Annual Investment Meeting targets to achieve in Africa.
The Annual Investment Meeting tops in the platform offering a powerful and flexible combination of virtual and live environments in the world. AIM creates a dynamic recovery to economic development by unlocking opportunities, reshaping economic strategies, and bringing together crucial partnerships to accelerate international progress.
The meeting is the largest gathering of the international investment community, business leaders, policymakers, regional and international investors, academic experts and entrepreneurs, giving updated information and strategies for attracting Foreign Direct Investment (FDI).
AIM is gathering momentum and attracts support from Ministries and Departments in African governments, Special Economic Zones, Venture Capitalists, Smart City Solution Providers, Angel Investors and different financial institutions. The support targets facilitating and providing Small and Medium Enterprises and Startups with a pool of opportunities.
Read: Kenya: Dubai investors’ red carpet welcome after President’s Directive
“Since the pandemic, the AIM has undertaken several innovative and technologically driven initiatives to transform the economy towards an upward direction,” said Mr Dawood Al Shezawi, the President of the Organising Committee of AIM.
“The platform has continued to drive investments through smart solutions. It has also pushed for the development of several projects that add value to investors and the economy in general.”
Under the partnership of Smart Africa and AIM, stakeholders will come together to deliberate, negotiate and review investment into the digital agenda in Africa driven by Smart Africa’s projects.
The investments deliberated under the agreement include broadband capacity, interoperable digital identification, Smart Cities capacity building, among other initiatives.
“AIM’s forthcoming edition, AIM 2022, will focus mainly on endorsing and boosting investments towards sustainability and innovation through the conference’s six pillars: Foreign Direct Investment (FDI), Small And Medium Enterprises (SMEs), Foreign Portfolio Investment (FPI), Startups, Future Cities, and the 50 Projects Initiative, said Dawood Al Shezawi, President of the Annual Investment Meeting.
Smart Africa helps Africa to exploit broadband.
Governments can deliver innovative e-government services on the broadband network. Smart Africa is helping the continent exploit the network and creating a seamless infrastructure to transform Africa into a single digital market by 2030.
Research by the International Telecommunication Union shows that an increase of 10 per cent of broadband connectivity results in an increase in the gross domestic product per capita by 2.5 per cent.
Read: South Africa, Nigeria trail Kenya in digital & P2P payments
