Why Africa Needs to Unleash its Digital Renaissance and Harness Youth Demographic Dividend for Economic Transformation

In an era where the only constant is change, the time has come for Africa to rise and shine, leading the world with its vibrant energy, creativity, and resilience.

The continent stands on the cusp of this transformative journey, the opportunities are boundless, and the promise of a brighter, more prosperous future for Africa and the world is within reach.

This brings me to the heart of Africa where lies a treasure trove of untapped potential, waiting to be unlocked for the continent’s digital revolution.

This potential doesn’t reside in the boardrooms of multinational corporations, non-governmental organizations or the halls of government power; instead, it lies within the vibrant and dynamic youth population.

The World Economic Forum report 2022 states that 60 percent of Africa’s population is under the age of 25. With this youth bulge, the continent boasts of a demographic dividend that can catapult it into the forefront of the global influence in various sectors, especially the digital economy – but only if these new generations are fully empowered to realise their best potential.

At this year’s Connected Africa Summit 2024, a pan African Information Communication and Technology Summit, that was officially opened by H.E President William Ruto, and brought together over 1000 delegates including ICT Ministers and Principal Secretaries, ICT industry players, high level government officials, development partners, international organizations, tech startups, businesses among others, harnessing youth potential and digital revolution were some of the biggest topics discussed.

The world today is increasingly moving towards a digital-first paradigm, African countries stand at a pivotal crossroads. The choice is clear; continue down the path of traditional economic models, or seize the opportunity to harness the creativity, innovation, and technological savvy of its young people to drive unprecedented growth and prosperity.

President Ruto has recognized the significant strides the continent has made through the transformative power of technology in improving lives and driving economic growth. He emphasized the vital role of African youths driving the continent’s digital transformation and lauded the youth’s creativity and entrepreneurial spirit, highlighting the significant contributions to sectors such as fintech, agri-tech, and renewable energy and digital services. From mobile banking in Kenya to e-commerce platforms in Nigeria, Africa is embracing innovation like never before.

The digital economy is offering a multitude of avenues for African youth to thrive and contribute meaningfully to their societies. In fact, the digital economy globally is projected to reach USD 712 billion by 2050 according to the International Finance Corporation and Google e-Conomy Africa 2020 report.

The digital economy, from software development and digital marketing to e-commerce and fintech, has the potential to unlock opportunities that will transform Africa through National Digital Economy Strategies that provide the framework to promote digital infrastructures, skills development, innovation and entrepreneurship. With access to the internet and mobile technology on the rise across the continent, the barriers to entry have never been lower. Indeed the possibilities are limitless.

One of the most compelling reasons for African countries to prioritize the empowerment of youth in the digital economy is the potential for job creation besides the young people who are already motivated and prepared to drive the digital economy, foster innovations and entrench new technologies.

According to the World Bank, Africa needs to create 20 million new jobs annually to absorb its growing workforce. With Africa’s population expected to double and reach 2.5 billion people by 2050, Africa’s jobless youth risks casting a shadow over its economic growth.

Recent figures from the African Development Bank Group show that while 10 to 12 million youth enter the workforce each year, only 3 million formal jobs are created, leaving more than half of the new entrants into the labour market unemployed. The digital economy presents a golden opportunity to not only meet this demand but also to provide sustainable and fulfilling employment opportunities for millions of young Africans.

Moreover, fostering a culture of innovation and entrepreneurship among youth can lead to the emergence of homegrown solutions to local challenges. Whether it’s developing mobile apps to improve access to healthcare, creating e-learning platforms to democratize education and financial inclusion or leveraging Blockchain technology to enhance transparency and accountability, African youth have the ingenuity and energy to drive transformative change.

Furthermore, embracing the digital economy can help African countries leapfrog traditional development hurdles. With the right investments in infrastructure, education, and supportive policies, Africa can position itself as a global leader in emerging technologies such as artificial intelligence, Blockchain, and the Internet of Things.

However, realizing this vision requires a concerted effort from all stakeholders. Governments must create an enabling environment that fosters innovation, protects intellectual property rights, accessibility to infrastructure and promotes digital literacy. Private sector players, including tech companies and investors, have a crucial role to play in providing mentorship, funding, and access to markets for aspiring entrepreneurs.

Additionally, educational institutions must adapt their curricula to equip students with the skills and knowledge needed to thrive in the digital age. By prioritizing STEM education especially in data science, Machine Learning, Artificial Intelligence, user experience design among others, fostering a culture of lifelong learning, and promoting collaboration between academia and industry, Africa can nurture a generation of digital natives poised to lead the continent’s transformation.

Ultimately, the success of Africa’s digital revolution hinges on its ability to harness the enormous potential of its young people. By empowering youth to unleash their creativity, drive innovation, and seize opportunities in the digital economy, Africa can chart a course towards sustainable development, shared prosperity, and global competitiveness.

Africa’s youth are not just the leaders of tomorrow; they are the drivers of today’s digital revolution. By investing in their potential, African countries can unlock a future of endless possibilities, where innovation knows no bounds and economic prosperity is within reach. The time to act is now. Africa’s digital renaissance awaits.

Ken Mwenda is the Co-founder and Managing Director, eMobilis Technology Training Institute.

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