The digital economy emerges as a beacon of hope amidst the shadows of widespread youth unemployment, offering a promising landscape for job creation and economic empowerment, according to experts. Ibrahim Mama, the United Nations Capital Development Fund Coordinator in Ethiopia, highlighted the pivotal role of the digital realm in addressing the pressing issue of unemployment, underscoring how technological innovations and financial technologies (Fin-tech) cater to the skills and aspirations of the youth.
In an exclusive conversation with a local media, Mama emphasized the transformative potential of Digital Ethiopia 2025, heralding a new era of enhanced financial transactions and innovative digital services. He stressed the interconnectedness of sectors, noting that a robust digital infrastructure not only amplifies economic output but also catalyzes efficiency and innovation across various domains such as education, transport, and healthcare.
Collaborating closely with the Ministry of Agriculture and Agricultural Transformation Institute, the United Nations Capital Development Fund is spearheading initiatives to digitize agricultural practices, aiming to bolster productivity and uplift smallholder farmers. However, Mama cautioned that the realization of these ambitions hinges upon augmenting the digital literacy of communities and fortifying cyber-security measures to mitigate potential risks associated with digital systems.
Echoing Mama's sentiments, Munir Duri, Founder of Kifiya Financial Technology, stressed the urgency of investing in digital infrastructure and fostering a culture of innovation. He emphasized the need for concerted efforts to bolster cyber-security defenses and enhance digital literacy at all levels of society. Additionally, Duri advocated for nurturing a cadre of digital consultants to provide specialized guidance and support in navigating the intricacies of the digital landscape.
In essence, while the digital economy holds immense promise for driving economic growth and fostering inclusive development in Ethiopia, concerted action is imperative to harness its full potential. By prioritizing digital literacy, cyber-security, and innovation, Ethiopia can chart a course towards a prosperous future powered by the transformative forces of technology.