Africa Headline News

Senegal Seeks to Woo $1.7 Billion Investment for Digital Economy

Senegalese President Bassirou Diomaye Faye seeks to attract $1.7 billion of investments to build digital infrastructure and create more job opportunities for the country’s youth.

The funding would support projects such as building data centers and deploying high-speed internet across the country, with a target of having 5G coverage across the West African nation by 2030, Faye said during an on-stage conversation at the Africa CEO Forum in Abidjan, Ivory Coast’s commercial hub.

 

Faye, one of Africa’s youngest leaders, in February unveiled a plan to transform Senegal into a digital economy by 2034. Growth has traditionally been driven by its mining, construction and tourism sectors, and is likely to get a boost from recently started oil and gas production.

 

The digitization initiative also seeks to make the government more efficient and transparent, a step that will help to restore its credibility after an audit revealed the previous administration had significantly misstated the budget position, prompting the International Monetary Fund to put a $1.8 billion program on hold.

 

The country will prioritize partnerships that protect its data and include an element of technology transfer to create opportunities and develop skills locally, Faye said during his session.

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *