It said because of its high technology-intensive and capital requirement, the continent’s ICT sector was being driven by a handful of multinational enterprises and large public enterprises with the pool of Small and Medium Scale Enterprises in the sector only grabbing crumbs.
UNCTAD noted that the participation of SMEs in the sector was undermined by constraints arising from infrastructure and institutional shortfalls that mostly account for high capital and operational costs. It added that an unconducive policy and regulatory environment fostered monopolies in the sector, which impacted on the potential contributions of SMEs. UNCTAD said the sustained growth of the sector would be impacted if the competitiveness and growth of the SMEs were not encouraged since they were more adaptive to market forces and highly innovative in terms of their products.
In its ‘Economic development in Africa report 2022,’ it stated, that “These key features are essential to the sector’s sustainability and its enhanced potential in effectively supporting the participation of Africa in the high-end value chains through the improved quality and diversity of manufacturing products.”
It added that ICT is a potential driver of structural transformation in Nigeria and other African countries.
Source: Tech Daily Report (techdailyreport.net)
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