Unlocking Economic Transformation: The Power of Digital Technologies

Unlocking Economic Transformation: The Power of Digital Technologies

Ethiopia is making considerable progress by leveraging the powerful impact of digital technology to foster inclusive expansion and sustainable national advancement.

Especially following the launch of the "Digital Ethiopia 2025" initiative, the nation is actively working towards leveraging the advantages offered by digital technologies. The aim is to guarantee that every citizen can benefit from these advancements, irrespective of their location, economic standing, social status, or access to necessary infrastructure.

In pursuit of this objective, Ethiopia continues to enhance its digital infrastructure and adopt advanced technologies, thereby establishing a groundwork for an innovation-led environment crucial for speeding up the country’s ambitions regarding digital transformation.

Consequently, Ethiopia's push for digital transformation is gathering genuine pace. It is taking significant steps forward, showing clear advancement.

In recent times, as the overall count of individuals using mobile banking and the internet keeps increasing gradually, digital payment platforms are witnessing an accelerated rise in usage.

Based on the 2024 Africa Telecom 50 report published by Revenue Magazine in 2024, Ethiopia stands out as the biggest telecommunications market in East Africa, boasting 87 million mobile subscriptions—this figure represents around 28% of the entire Eastern African region’s total of 314.9 million subscriptions.

In furtherance of its digital transformation efforts, the government has launched the national digital identity system called 'Fayda.' This initiative seeks to grant every Ethiopian citizen a safe and confirmable digital identity. Up until now, more than 14 million people have signed up, highlighting a substantial step forward for Ethiopia’s digital administration.

During the presentation of his ministry’s third quarterly report, Innovation and Technology Minister Belete Molla (PhD) emphasized the significant progress Ethiopia has achieved in the last nine months regarding digital transformation and skill enhancement for the workforce.

The Minister stated that a significant rise in digital financial activities is substantially fostering economic expansion in Ethiopia, with more than 800 billion Birr transacted via systems like Telebirr and CBEbirr during the last nine months.

Apart from demonstrating communities' dedication to embracing and implementing new technologies, this accomplishment also significantly reduces expenses related to currency production, streamlines financial processes, and bolsters Ethiopia’s progression towards a digitized economic landscape.

Regarding the Minister, the robust cooperation and significant input from the two telecommunications companies,Ethio Telecom and Safaricom, have played a crucial role in enhancing digital infrastructure and connectivity. This has led to an increase in both mobile usage andinternet penetration throughout the nation.

Another crucial aspect highlighted by the minister in his report is workforce development. Ever since the introduction of the 5 Million Ethio-Coders program in July of last year, a total of 688,000 Ethiopians have been trained. Among these individuals, an impressive 270,000 have earned international certifications, which has greatly enhanced their standing in the global technology sector, as noted by him.

Indeed, these notable accomplishments highlight Ethiopia’s dedication and the increasing pace of progress in its digital transformation. By broadening access to digital financial services and building essential infrastructure, along with nurturing future technology experts via programs such as “5 Million Ethio-Coders,” the nation is establishing a robust base for an equitable, innovation-led digital economy.

Even though the advancements are praiseworthy, they merely signal the start since the worldwide digital landscape keeps evolving at an unprecedented pace. Therefore, forging robust strategic alliances amongst various parties such as government bodies and commercial entities remains essential to harnessing the full benefits of digital technology for Ethiopia’s entire population. It is imperative to ensure that everyone gets included, particularly those residing in remote and underdeveloped regions.

Driven by determination and a cooperative mindset, the nation is well-positioned not merely to close the gap, but to take the helm in crafting a digital future that benefits all of its inhabitants.

Provided by Syndigate Media Inc. ( Syndigate.info ).