Equatorial Guinea Faces Challenges in Digital Transformation

Diversifying the Economy through Digital Transformation

As Equatorial Guinea seeks to diversify its economy, digital transformation is seen as a key driver for growth, stability, and poverty reduction. Despite efforts such as the Digital Agenda for Equatorial Guinea (ADIGE) and the National Development Plan 2035, significant hurdles remain.

Key Challenges in the Digital Economy

A recent World Bank report highlights the challenges facing Equatorial Guinea’s digital economy, which includes five pillars:

• Digital Infrastructure: Regulatory challenges in the broadband sector, limited competition, and cybersecurity weaknesses.
• Public Platforms: Lack of regulation and implementation of digital identity.
• Financial Services: Limited bank offerings and a focus on financial stability that has delayed digital transformation.
• Businesses: Limited internet access, challenging access to finance, and a shortage of digital skills.
• Skills: Access to education has improved, but there are still limitations in producing a digitally skilled population at scale.

Recommendations for Quick-Win Actions

To address these challenges, the report recommends quick-win actions across the five pillars of the digital economy:

• Apply cost-oriented obligations in the international capacity and national network fiber wholesale markets.
• Develop a national strategy for digital public platforms.
• Assess the need to expand and strengthen agent networks for DFS adoption.
• Articulate a roadmap to develop an inclusive digital entrepreneurship ecosystem.
• Develop a national education ICT policy.

Implementing Comprehensive Reforms

Implementing comprehensive reforms across these pillars and addressing key cross-cutting issues, such as enhancing data quality, coverage, and usage, improving institutional coordination, and bridging the island-continental digital divide and gender gap, will be crucial for Equatorial Guinea’s success in digital transformation.