Mr Albert Zeufack, the World Bank’s Chief Economist for Africa, on Monday, urged African nations to embrace digital transformation to modernise their economies and reinforce economic growth, saying, “This is a game-changer for Africa”. The Bank’s Chief Economist for Africa explained that digital transformation could increase Africa’s growth per capita by 1.5 percentage points per year and reduce the poverty headcount by 0.7 percentage points per year.
It was announced in the report that the economic growth in Sub-Saharan Africa recorded 2.3 per cent, which is 0.4 percentage points lower than the Bank’s October estimate, and down from 2.5 per cent recorded in 2017.
Ms Maura Leary, the Media Relations and Dissemination, Africa Region for Africa’s Pulse, moderated the entire discussions.
The World Bank’s bi-annual report was produced by the Office of the World Bank’s Chief Economist for Africa, Mr Albert G. Zeufack.