Guinea-Bissau Digital Economy Diagnostic
Many Sub-Saharan African (SSA) countries, including Guinea-Bissau, lack the requisite enabling environment to capture a larger fraction of the global digital economy or benefit from its gains and are thus at increasing risk of being left behind. Ra...
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| Language: | English en_US |
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Washington, DC : World Bank
2022
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| Online Access: | http://documents.worldbank.org/curated/en/099745006262216743/P177016084979202b08dd501a5690c82506 http://hdl.handle.net/10986/37730 |
| Summary: | Many Sub-Saharan African (SSA)
countries, including Guinea-Bissau, lack the requisite
enabling environment to capture a larger fraction of the
global digital economy or benefit from its gains and are
thus at increasing risk of being left behind. Rapid digital
transformation is reshaping the global economy, driving
financing inclusion, closing information gaps between buyers
and sellers, and changing the way economies of scale are
achieved. In many, although certainly not all, parts of the
continent, access to and affordability of broadband internet
remains low; for that matter, even access to electricity is
low, preventing Africans from being able to go online. Most
public services remain offline, and many Africans lack
digital identity or mobile wallets to take advantage of
digital financial or other services. Digital skills and
literacy remain weak. Finally, although venture capital
investment on the continent continues to grow, 2021
witnessed 681 rounds of fundraising across 640 startups,
totaling US5.2 billion dollars in equity raised, according
to the African Private Equity and Venture Capital
Association, structural constraints prevent businesses from
taking greater advantage of the digital economy. Of the 716
financial technology (fintech) companies currently operating
in SSA, only 5 percent have scaled. In this context, the WBG
has undertaken this digital economy diagnostic of
Guinea-Bissau under the leadership of the Ministry of
Transport and Communication and the Vice Prime Minister.
Based on desk research, virtual and in person interviews
with a wide range of public and private sector stakeholders,
and an April 2022 field mission to discuss preliminary
findings and proposed recommendations, this report analyzes
the constraints in each of the five foundational pillar and
puts forward actionable recommendations categorized by
priority level and sequencing. Overall, it aims to inform
the national dialogue, as well as next steps, around
Guinea-Bissau’s digital transformation, a policy agenda in
which the Government of Guinea Bissau (GoGB) has expressed
keen interest. |
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