Strengthening Private Sector Participation Key to Realizing Digital Economy

Addis Ababa, May 8/2024(ENA) Economist and policy advisor Costantinos Berhutesfa emphasizes the need to enhance private sector involvement in Ethiopia to expedite digital transformation and achieve a thriving digital economy.

The government's unwavering commitment to materialize digital technology in Ethiopia is paving the way for the implementation of the "Digital Ethiopia 2025" strategy.

This comprehensive strategy aligns with indigenous economic reform, a 10-year development plan, and Africa's digital transformation agenda.

In an exclusive interview with ENA, economist and policy advisor economist Costantinos Berhutesfa underscored the global significance of building a digital economy, a path the world is rapidly embracing.

He emphasized the pivotal role that Universities of Science and Technology must play in collaborating with the government and private sector to actualize the vision of a digital Ethiopia and disseminate technological advancements.

Costantinos commended the telecom sector's proactive measures to drive digitalization, particularly lauding the expansion of the 5G network, which currently provides a favorable foundation for this approach.

Anticipating a reliable future energy supply, he noted that Ethiopia is primed to seize substantial opportunities for technological realization.

Highlighting the importance of conducive financial policies, the establishment of a robust capital market, and strengthening of incentives for foreign investment, he emphasized that these measures would empower the youth to actively participate in economic development through creative endeavors.

Costantinos stated that effective implementation of the strategy necessitates not only government and private sector collaboration but also the active involvement of universities.

Digital Ethiopia serves as a collaborative platform, bringing together the government, private sector, and development agencies to facilitate the nation's digital journey while aligning it with the broader continental strategy, he noted.

Costantinos expressed encouragement at Ethiopia's concerted efforts to realize the strategy through developments in science, technology, and innovation sectors.

He emphasized the pivotal role of constructing a digital economy, which entails effective e-government management within the governmental system.

The strategy's successful implementation will enable digitalization across e-commerce, research activities, and the education sector as a whole, he noted.

The economist called for strengthened efforts to realize the digital economy in Ethiopia and ensure its youth reaps the benefits of this transformative journey.