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Africa’s Digital Transformation: A Focus on Equatorial Guinea

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Background

  • The World Bank’s DE4A initiative aims to drive Africa’s digital transformation by 2030.
  • Equatorial Guinea is one of the countries undergoing this transformation, with a focus on economic diversification and digitalization.
  • The government has established a new National Development Plan 2035, which prioritizes technology and innovation.

Digital Economy Opportunities

The digital economy offers significant opportunities for growth, poverty reduction, and job creation in Equatorial Guinea.

  • Mobile technologies and services generated 8% of GDP (approximately USD 140 billion) in Sub-Saharan Africa in 2021.
  • Mobile money has driven financial inclusion, increasing account ownership by 8 percentage points between 2014 and 2021.

Country Context

Equatorial Guinea’s economy is heavily dependent on oil, but the government aims to diversify through economic development plans.

  • The National Plan for Economic and Social Development (Horizon 2020) targets infrastructure development, agriculture, fisheries, tourism, and financial services.

Digital Infrastructure Challenges

Despite progress in reducing telecom service rates, digital infrastructure in Equatorial Guinea faces challenges due to regulatory barriers and a lack of competition in the broadband sector.

  • Quasi-monopolies exist in international bandwidth access and national backbone network markets.

Recommendations

The World Bank’s digital economy diagnostic for Equatorial Guinea provides actionable recommendations categorized by priority level and sequencing.

  • The report aims to inform the national dialogue around digital transformation and diversification, a policy agenda in which the Government of Equatorial Guinea has expressed interest.