$100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030

By Abdul Rahman Bangura-

Photo Credit: Pixabay

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Discussing at the virginal publication of the Africa Prosperity Dialogues, with the theme: “Moving from Ambition to Action: The Role of Telecommunications in Deepening IntraAfrican Trade, Challenges and Opportunity,” Ralph Mupita expressed that the regulatory frameworks for Africa’s telecommunications traffic does not express its current growth.

“They are still positioned for the era of voice. As the world continues to undergo major digital transformation and disruption, our regulatory frameworks need to evolve to reflect these technological advancements.”

The Africa Prosperity Dialogues is orchestrated by the Africa Prosperity Network, and is intended for at accomplishing wider economic integration between African states in summing up its mechanization preferences.

The Summit, was centered around, debated policies that would assure the successful enactment of the Africa Continental Free Trade Area (AfCFTA). The event brought together a digit of prominent African leaders, including the President of Ghana, Nana Addo Dankwa Akufo-Addo, and the former President of Niger and AfCFTA Champion, Issofou Mohamadou, as well as many government and business leaders.

MTN Group Senior Vice President for Emerging Markets – Ebenezer Twum Asante, MTN Group Chief Sustainability and Corporate Affairs Officer, Nompilo Morafo, and the CEO of MTN Ghana, Selorm Adadevoh, were in attendance.

Mupita accentuated the necessity for serious venture by all stakeholders to accomplish universal broadband coverage on the African Continent. Mupita said, attaining universal broadband coverage on the Continent, and building digital solutions for Africa’s progress, obliges a lot of investment, not only in terms of digital infrastructure across regions, “but modernization of our policies and frameworks, as well as the collective effort of all stakeholders.”

He remarked that as telecommunications globally glimpses immediate technological improvements, the mainland desired to work towards having a vital regulatory framework, which was relevant for the times and its prospective fit.

In line with this, he said, there was also a need for fair share contributions from all ecosystem participants, especially the private sector, in terms of building and investing in infrastructure. He suggested that it compelled a fair share tribute by both local and international players, including mobile network operators and OTTs. He similarly revealed that given the challenges Africa proceeded with to face, the aftershocks of the COVID-19 pandemic, effects of the Ukraine war, rising costs of food and fuel prices, and inflation amongst others, Africa would need $100 billion capital investment to be able to stay competent to deliver widespread broadband coverage for all Africans.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent