Guinea-Bissau Digital Economy Diagnostic

Guinea-Bissau Digital Economy Diagnostic

Many Sub-Saharan African (SSA) countries, including Guinea-Bissau, lack the requisite enabling environment to capture a larger fraction of the global digital economy or benefit from its gains and are thus at increasing risk of being left behind. Ra...

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Bibliographic Details
Main Author: World Bank
Format: Report
Language:English
en_US
Published: Washington, DC : World Bank 2022
Subjects:
DIGITAL ECONOMY
DIGITAL TRANSFORMATION
DIGITAL INFRASTRUCTURE
DIGITAL PUBLIC PLATFORMS
DIGITAL FINANCIAL SERVICES
DIGITAL BUSINESSES
DIGITAL SKILLS
Online Access:http://documents.worldbank.org/curated/en/099745006262216743/P177016084979202b08dd501a5690c82506
http://hdl.handle.net/10986/37730
id okr-10986-37730
recordtype oai_dc
spelling okr-10986-377302022-09-19T15:53:33Z Guinea-Bissau Digital Economy Diagnostic World Bank DIGITAL ECONOMY DIGITAL TRANSFORMATION DIGITAL INFRASTRUCTURE DIGITAL PUBLIC PLATFORMS DIGITAL FINANCIAL SERVICES DIGITAL BUSINESSES DIGITAL SKILLS Many Sub-Saharan African (SSA) countries, including Guinea-Bissau, lack the requisite enabling environment to capture a larger fraction of the global digital economy or benefit from its gains and are thus at increasing risk of being left behind. Rapid digital transformation is reshaping the global economy, driving financing inclusion, closing information gaps between buyers and sellers, and changing the way economies of scale are achieved. In many, although certainly not all, parts of the continent, access to and affordability of broadband internet remains low; for that matter, even access to electricity is low, preventing Africans from being able to go online. Most public services remain offline, and many Africans lack digital identity or mobile wallets to take advantage of digital financial or other services. Digital skills and literacy remain weak. Finally, although venture capital investment on the continent continues to grow, 2021 witnessed 681 rounds of fundraising across 640 startups, totaling US5.2 billion dollars in equity raised, according to the African Private Equity and Venture Capital Association, structural constraints prevent businesses from taking greater advantage of the digital economy. Of the 716 financial technology (fintech) companies currently operating in SSA, only 5 percent have scaled. In this context, the WBG has undertaken this digital economy diagnostic of Guinea-Bissau under the leadership of the Ministry of Transport and Communication and the Vice Prime Minister. Based on desk research, virtual and in person interviews with a wide range of public and private sector stakeholders, and an April 2022 field mission to discuss preliminary findings and proposed recommendations, this report analyzes the constraints in each of the five foundational pillar and puts forward actionable recommendations categorized by priority level and sequencing. Overall, it aims to inform the national dialogue, as well as next steps, around Guinea-Bissau’s digital transformation, a policy agenda in which the Government of Guinea Bissau (GoGB) has expressed keen interest. 2022-07-20T20:13:41Z 2022-07-20T20:13:41Z 2022 Report http://documents.worldbank.org/curated/en/099745006262216743/P177016084979202b08dd501a5690c82506 http://hdl.handle.net/10986/37730 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC : World Bank Economic & Sector Work Economic & Sector Work :: Other Financial Sector Study Africa Western and Central (AFW) Africa Guinea-Bissau
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic DIGITAL ECONOMY
DIGITAL TRANSFORMATION
DIGITAL INFRASTRUCTURE
DIGITAL PUBLIC PLATFORMS
DIGITAL FINANCIAL SERVICES
DIGITAL BUSINESSES
DIGITAL SKILLS
spellingShingle DIGITAL ECONOMY
DIGITAL TRANSFORMATION
DIGITAL INFRASTRUCTURE
DIGITAL PUBLIC PLATFORMS
DIGITAL FINANCIAL SERVICES
DIGITAL BUSINESSES
DIGITAL SKILLS
World Bank
Guinea-Bissau Digital Economy Diagnostic
geographic_facet Africa Western and Central (AFW)
Africa
Guinea-Bissau
description Many Sub-Saharan African (SSA) countries, including Guinea-Bissau, lack the requisite enabling environment to capture a larger fraction of the global digital economy or benefit from its gains and are thus at increasing risk of being left behind. Rapid digital transformation is reshaping the global economy, driving financing inclusion, closing information gaps between buyers and sellers, and changing the way economies of scale are achieved. In many, although certainly not all, parts of the continent, access to and affordability of broadband internet remains low; for that matter, even access to electricity is low, preventing Africans from being able to go online. Most public services remain offline, and many Africans lack digital identity or mobile wallets to take advantage of digital financial or other services. Digital skills and literacy remain weak. Finally, although venture capital investment on the continent continues to grow, 2021 witnessed 681 rounds of fundraising across 640 startups, totaling US5.2 billion dollars in equity raised, according to the African Private Equity and Venture Capital Association, structural constraints prevent businesses from taking greater advantage of the digital economy. Of the 716 financial technology (fintech) companies currently operating in SSA, only 5 percent have scaled. In this context, the WBG has undertaken this digital economy diagnostic of Guinea-Bissau under the leadership of the Ministry of Transport and Communication and the Vice Prime Minister. Based on desk research, virtual and in person interviews with a wide range of public and private sector stakeholders, and an April 2022 field mission to discuss preliminary findings and proposed recommendations, this report analyzes the constraints in each of the five foundational pillar and puts forward actionable recommendations categorized by priority level and sequencing. Overall, it aims to inform the national dialogue, as well as next steps, around Guinea-Bissau’s digital transformation, a policy agenda in which the Government of Guinea Bissau (GoGB) has expressed keen interest.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Guinea-Bissau Digital Economy Diagnostic
title_short Guinea-Bissau Digital Economy Diagnostic
title_full Guinea-Bissau Digital Economy Diagnostic
title_fullStr Guinea-Bissau Digital Economy Diagnostic
title_full_unstemmed Guinea-Bissau Digital Economy Diagnostic
title_sort guinea-bissau digital economy diagnostic
publisher Washington, DC : World Bank
publishDate 2022
url http://documents.worldbank.org/curated/en/099745006262216743/P177016084979202b08dd501a5690c82506
http://hdl.handle.net/10986/37730
_version_ 1764487800628969472

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