WELCOME TO THE DECEMBER EDITION OF ADDLESHAW GODDARD'S AFRICA BUSINESS GROUP NEWSLETTER
Where businesses were not already engaged in progressing a digital agenda, COVID-19 provided the impetus to prioritize digital transformation as an agenda item. Businesses traditionally unaffected or unenthused by tech and digital were forced to embrace them in order to survive and, since then, to thrive.
Historically, the private sector has deployed technology to further inclusivity and offer products and services to businesses and consumers otherwise not provided by the state. This looks set to change, with many African governments now seeking to be a part of the conversation. Ministers representing a number of African nations have expressed that digital transformation of systems across the continent will boost Africa's economic growth. China's Huawei, a company with significant African interests already, is due to host regulators and other stakeholders from African nations at its 5G Summit to explore how it can further facilitate digital transformation in the region. Nigeria's President Buhari recently signed the country's Start-up Act, a law aimed at establishing systems for collaboration between governmental and regulatory bodies and tech providers.
In the legal sector digital transformation is set to streamline the resolution of property disputes, with South Africa's ADR Access leveraging technology to minimise time, cost and bureaucracy typically associated with property disputes.
The ongoing question, however, is how these digital transformation projects can continue to be supported and sustained amid Africa's power deficit.
We hope that you will enjoy reading our latest newsletter.
- Microsoft focusing on helping African startups in digital transformation journey
When it comes to its Africa investment, Microsoft appears to be focusing on two areas in particular – digital transformation and African startups.
The former has seen Microsoft sign a partnership with MTN to create a fully fledged ecosystem on the continent, while the latter involves the ambitious goal of accelerate the growth of 10 000 African startups over the next five years.
- The Next Wave – Africa's power deficit is at odds with its digital economy goals
After a brief hiatus, we’re back with our series on Africa’s digital economy and the hard-to-ignore physical, human and institutional components that make up this ecosystem. If you missed the previous editions, please find them here, here, here, and here.
Last week’s guest contribution is also an important way to look at the digital economy from an investment perspective. After you’re done reading this, come back to it here.
TL;DR- Africa needs power, lots of power if it will ever unlock its digital potential. At COP27 and after, policymakers need to take this seriously.
- Digital Transformation Will Boost Africa’s Economic Growth- IT Ministers
The African Telecommunications Union (ATU) Information Communication Technology Ministers in Africa have both agreed that adopting digitalisation of systems in the continent will bring about digital economic growth in African countries.
- Chinese Corporation Supports Digital Transformation In Africa
Chinese multinational technology corporation, Huawei Technologies Co has pledged to further increase its investments for digital transformation in Africa as it hosts industry executives and regulators from the continent for a 5G summit.
- ADR Access: First-of-its-kind legal-tech platform for speedy dispute resolution launches in South Africa’s property sector
ADR Access, developed by legal expert-turned-tech entrepreneur Frank Stanley, has released the first end-to-end legal-tech alternative dispute resolution platform in South Africa. The platform is focused on streamlining dispute resolution in the property sector.
- Africa Development Bank and African Union Commission sign $9.73 million grant agreement to drive digital market development in Africa
The African Union Commission (AUC) and the African Development Bank have signed a grant agreement to implement Phase 1 of the Upstream Project for Digital Market Development in Africa.
- IFC launches $225m platform to strengthen Africa’s VC ecosystem
IFC has launched a new US$225 million platform to strengthen venture capital ecosystems in Africa, Middle East, Central Asia, and Pakistan, and invest in early-stage companies addressing development challenges through technological innovations in climate, healthcare, education, agriculture, e-commerce, and other sectors.
- Nigeria Startup Act signed into law by President Buhari
The Nigeria Startup Act, which is aimed at deepening the country’s technology ecosystem and enabling the sector, has been signed into law by President Muhammadu Buhari.