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Explore the latest trends and actionable insights on the MEA Brooadband market to inform business strategy and pinpoint opportunities and risks

Togo’s Sets the Tone for African Digital Economy Growth

Industry: Fintech
Current: Other Industry Indicators

Togo’s 8.2 million people will get the benefit of high-speed and affordable internet connections from Google’s Equiano internet cable
Mobile Internet adoption is lowest in Africa and the Middle East region at 64%
Africa and the Middle East is lagging in terms of mobile usage; 105% of the people use mobile in the African region

Togo’s Sets the Tone for African Digital Economy Growth

Togo will be the first African country connected to Google’s underwater internet cable when Equiano launches this month in the West African country. Togo’s 8.2 million people will benefit from high-speed and affordable internet connections. It will be a massive initiative to modernize the digital infrastructure in the country, where only 20% of the population uses the internet.

Investment in African Digital Infrastructure

The latest event is a part of Google’s $1 billion investment in Africa’s digital transformation. It will cover several projects, ranging from enhancing connectivity to funding in startups. Announced in 2019, Equiano is Google’s 14^th underwater internet cable investment but the first dedicated to Africa. After Togo, the internet cable would also land in Nigeria, Namibia, and South Africa. The Togolese government is working on increasing social support and economic development by investing in technology. In 2021, World Bank approved support of $11 million from the International Development Association (IDA) to enhance connectivity and improve the digital economy in the country.

Africa and the Middle East is Lagging on the Digital Front

Africa and the Middle East is the least internet-connected region globally, followed by Latin America. Only 64% of the African region is connected to the mobile internet, while developed regions like North America and Western Europe have secured most of their people with the internet. Africa and the Middle East are behind in mobile penetration, with 105% of the people using mobile in the African region compared to 176% in Western Europe. These figures suggest that the African region has yet to catch up on the digital front. However, this region has enormous opportunities to invest in the digital infrastructure and contribute to mobile and internet user growth.

Digital Economy can be a Boon to the Area

The digital economy will play a crucial role in the development of African countries. Growth in the digital infrastructure will create a suitable environment for digital startups, resulting in new jobs. Businesses can provide better services such as cashless payments to consumers due to internet and mobile connection improvement. Additionally, the government needs to invest in the digital infrastructure systematically and should educate youth about digital skills and technology to thrive in the digital economy.

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