WITSA Signs Global Industry Statement on Supporting Digital Trade in the African Continental Free Trade Area
August 10, 2023: WITSA and other signatories urge negotiators to develop comprehensive pan-African digital trade commitments to be incorporated into the African Free Trade Area (AfCFTA) More information here.
Africa is poised to lead the globe in unlocking digital transformation opportunities across countless consumer and enterprise sectors and verticals. Enhancing participation in, and access to, the global digital economy across the continent must be a cornerstone of any strategy that aims to sustainably and equitably create opportunities, particularly for micro/small/medium-sized enterprises (MSMEs). A successful digital transformation for Africa will speed investment and innovation, enhance competition, create jobs, reduce poverty, and generally improve the availability of goods and services. Notably, there are enormous opportunities for Africa in both existing and emerging technology markets including artificial intelligence (AI), the internet of things (IoT), and quantum computing, among others. Africa is well positioned to seize these openings with leapfrogging opportunities that exist due to having fewer legacy physical and governance infrastructure challenges.
Building on Africa’s focused efforts to achieve and sustain growth through digital transformation, industry associations from around the world are coming together to encourage the development of comprehensive digital trade rules for the AfCFTA to ensure African leadership is at the forefront of the fourth industrial revolution.
Read the statement here!