Africa’s Economy May Still Hit $3tr by 2030—Sita

By Dipo Olowookere

Africa CEO at EY, Mr Ajen Sita, has disclosed that Africa can still become a $3 trillion economy by the year 2030 as being projected.

Mr Sita made this disclosure while reacting to the Africa Attractiveness report released by EY recently.

However, he said the continent still has a lot to do in the area of poverty eradication and improve the ease of doing business.

“By 2030, Africa remains on track to be a $3 trillion economy. However growth needs to become more inclusive and sustainable to eradicate poverty at the levels that are required.

“If we accept the reality that physical connectivity – enabled by regional integration and the development of physical infrastructure – will remain a key stumbling block to inclusive growth across Africa for at least the next decade, then the need to actively embrace digital connectivity becomes critical.

“However, efforts to harness the potential of digital technologies as a fundamental driver of inclusive growth are still far too piecemeal and fragmented,” Mr Sita said.

He suggested that, “What is required is a far more collaborative effort between governments, business and non-profit organisations to adopt technological disruption, and create digitally enabled offerings with a particular focus on health, education and entrepreneurship.”