The African digital economy is rapidly growing: it encompasses e-commerce, fintech, digital services, and mobile connectivity, all of which have seen exponential growth due to rising smartphone penetration, improved internet infrastructure, and a young, tech-savvy population. The local digital entrepreneurship ecosystem is bubbling with opportunities, organized across several key hubs. Platforms like mobile money systems, such as M-Pesa in Kenya, and digital marketplaces are transforming traditional industries and fostering innovation. Governments and regional organizations are also promoting digital transformation through policies such as the African Continental Free Trade Agreement (AfCFTA), which includes provisions to enhance digital trade and economic integration across the continent.
Despite this progress, the African digital economy faces significant challenges. One of the main hurdles is inadequate infrastructure, including limited access to high-speed internet and frequent power outages. Digital literacy and affordability also pose barriers, as many people lack the necessary skills or resources to access and benefit from digital platforms. Furthermore, regulatory fragmentation across African countries complicates cross-border digital trade and hampers the scalability of digital businesses. Cybersecurity threats and data protection issues add another layer of complexity, as the rapid growth of the digital economy has outpaced the development of robust regulatory frameworks. Capital markets remain underdeveloped and businesses, banks and fund managers face significant constraints.
Nevertheless, the opportunities for growth and transformation are immense. Africa's youthful population offers a vast and growing market for digital products and services, with potential for innovation in sectors like agriculture, education, and healthcare. Fintech solutions, such as mobile money and digital lending, are addressing financial inclusion for millions previously excluded from the formal banking sector. Investments in digital infrastructure, such as undersea cables and satellite internet projects, are also expanding connectivity and bridging the digital divide.
In this panel, we welcome representatives from digital infrastructure operators, local investors and entrepreneurs, private equity and venture capital fund managers who invest in African businesses, and policymakers. The expert panel will share insights on the key trends observed in the sector, and will discuss how African governments, businesses, and international partners can collaborate to address these challenges and take advantage of the rapid changes spurred by AI.
All are welcome to attend. Please register, indicating if you will participate in presence or online.
This event takes place as part of the Business and Development in Action (BaDiA) series, an initiative led by Kenneth Amaeshi (Professor of Sustainable Finance and Governance, Florence School of Transnational Governance, EUI), Lorenzo Ciari (Director for Impact - European Bank for Reconstruction and Development (EBRD); Visiting Fellow, Florence School of Transnational Governance, EUI) and Umberto Marengo (Strategy Manager at British International Investments; Visiting Fellow, Robert Schuman Centre for Advanced Studies, EUI), that seeks to bring representatives from the private sector to the EUI to share their practical experiences in dealing with development challenges, especially in emerging markets and developing economies.
Speakers:
Kenechi Okeleke (Senior Director, GSMA)
Kenechi leads the delivery of GSMA Intelligence’s African social and policy research products, including the Mobile Economy, Digital Societies and Region in Focus report series. He has been a telecoms and IT industry analyst for more than 12 years, leading research across a wide range of topics, including tech innovation, 5G, AI, IoT and big data. Kenechi speaks regularly at industry events and provides media commentary on key issues within the telecoms and IT ecosystem. Kenechi joined the GSMA in 2014. He holds a BSc in Mathematics from the University of Benin and a Masters in International Business from the Grenoble Graduate School of Business.
Folarin Oreoluwa Aiyegbusi (Head of Startup Ecosystem for Africa at Google)
Folarin leads Google's Startup Ecosystem in Africa, which is dedicated to empowering startups across the African continent with the best of Google - its people, methodologies and advanced technology. He is responsible for managing the Google for Startups Accelerator Africa, Black Founders Fund Africa and all startup-oriented initiatives across the continent. Standing at the intersection of business and technology, he is experienced in managing programs, building tech platforms, building and managing large databases, scaling businesses and connecting startups to the resources required for success.
Prior to Google, Folarin was the Business Information Specialist at the Tony Elumelu Foundation, responsible for all their technology platforms, business data for 500,000 entrepreneurs across Africa, the development of TEFConnect and several pillars of an entrepreneurship program that sought to empower 10,000 African entrepreneurs with $100m over 10 years. Folarin has facilitated $26m in funding to over 3,000 businesses since 2016.
Hossam Abou Moussa (Partner, Apis Partners)
Hossam Abou Moussa, Partner at Apis Partners, a private equity and venture investor that backs growth financial services innovators who create transformative impact in their communities. Hossam has over 20 years of professional experience investing in growth markets, dedicating over ten years to the financial services sector. Before joining Apis Partners, Hossam was a Partner at Actis, leading a team of investment experts focused on the Financial Services sector throughout Africa, South, and Southeast Asia.
Throughout his career, Hossam has played a key role in numerous investments across Africa and Asia. Some of these include the Commercial International Bank (Egypt’s largest private sector bank), Fawry (Egypt’s premier digital transformation and e-payment platform), Emerging Markets Payments (the pioneering pan-African payments platform with a presence in Africa and the Middle East), GHL Systems (a top payment service provider and merchant acquirer in the ASEAN region), and MNT-Halan (Egypt’s most extensive and rapidly growing lender for the unbanked and underbanked population).
Ndeye Awa Gueye (Manager of partnerships and private sector, LuxDev)
A dynamic professional with over 12 years of experience in driving innovation, entrepreneurship, and impact-driven initiatives, I have honed my expertise in Telecom/IT, B2B presales, business development, PMO, and agile coaching through previous roles at Free Senegal and Tigo. Her work focuses on designing and managing programs that support SMEs, foster financial and digital inclusion, and create systemic solutions for youth and women’s empowerment. With a proven track record in project design, partnership building, and scaling tech entrepreneurial ecosystems aligned with the SDGs, she is deeply passionate about advancing STEM education and leadership for girls and women.
Martina F. Ferracane (Assistant Professor & Manager of the Digital Trade Integration Project, European University Institute)
Martina Ferracane is passionate about policymaking and technological innovation. She is an Associate Professor of International Digital Trade at the School of Computing, Engineering & Digital Technologies at Teesside University. Martina is also a part-time Assistant Professor at the Robert Schuman Center for Advanced Studies at the European University Institute, where she leads the Digital Trade Integration project, a CIVICA and Horizon 2020-funded research project. Martina's research focuses on the regulatory issues connected to digital trade and data flows. Moreover, she is more broadly interested in digital transformation and ran a randomised controlled trial (RCT) to assess the impact of digital fabrication classes on students' skills and interest in STEM subjects.
Moderator
Davide Strusani (Head of Development Impact for Digital and Disruptive Technology, IFC, World Bank Group)
Davide is a recognized expert on the role of digital and disruptive technology in delivering economic and social growth, having led numerous in-country campaigns with governments and private sector to boost digital usage; and has authored numerous thought leadership pieces on the role of technology and digital services in fostering economic and social development. Davide has worked extensively for digital players such as Google and Facebook, and has led numerous studies on the application of Artificial Intelligence, Machine Learning and other technologies in emerging markets, including in the education, healthcare, agribusiness and logistic services. At the World Bank Group, Davide recently coauthored a flagship report on Digital Opportunities for African Businesses, was part of the leadership team of the Africa Moonshot initiative, a multi-stakeholder effort to digitally connect Africa; and with Google, he led a study estimating the size digital economy in Africa. While a Director at Deloitte, Davide led over 20 studies on the African digital economies and the economic policies to support digital development and economic and social growth.