Digital revolution, a new hope for economic boon

ECONOMIC experts have commended the government’s new zeal of realising the digital economy, through systematic digitalisation, saying the move will spur an inclusive economic growth.

The experts expressed satisfaction with the 2023/2024 National Budget estimates tabled in the National Assembly in Dodoma on Thursday by the Minister for Finance and Planning, Dr Mwigulu Nchemba, which places priority on realising the digital economy.

According to minister Nchemba, in 2023/24, the government will continue to manage the digital revolution in the country which is crucial for transforming the nation to a digital economy. In the digital economy, all sectors effectively collaborate through better digital environment.

“In achieving the intended goal, the government will implement various projects including: the expansion of National ICT Broadband Backbone (NICTBB); the Digital Tanzania; and Develop the Innovation and Manufacturing of ICT Equipment,” he told MPs.

Reacting, economist, Dr Isaac Safari based at the Saint Augustine University of Tanzania (SAUT) told the ‘Daily News on Saturday’ that digital economy would accelerate the country’s development infrastructure including the Standard Gauge Railway (SGR) and the ports efficiency thus easing access to potential new markets, raw materials, capital as well as modern world class production technologies.

He said it was the right time for the country to attain digital economy that will enable citizens to fully explore the emerging opportunities from the on-going digital revolution.

Dr Safari commended President Samia Suluhu Hassan for her commitment to transform the country’s economy, saying the President’s effort to spur digital economy is in line with her commitment to boost investment and create employment.

For his part, Business Expert and Tech Analyst, Mr Merdad Wilfred based in Mwanza Region said that digital monetisation will simplify business, by saving time via instant payment systems that boost transaction circulation.

Mr Wilfred expounded that the cashless economy will cut government spending on paper money printing and hence the money saved can be channelled to other development projects.

Equally, he appreciated the government’s focus on integrating start-up innovators in the areas of research and innovation, calling for implementation of the approved budget for the country to enjoy rewarding digital economy.

Addressing the National Assembly recently, Minister for Information, Communication and Information Technology, Mr Nape Nnauye said as of April 2023, the country has over 62 million registered mobile phone users in comparison with 56 million users in the same month in 2022.

He said today there are over 33 million internet users compared to 30 million users in 2022; therefore, the data showcase citizens’ readiness to cope with the digital revolution.

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