Exploring the Challenges and Opportunities for Africa in the Information Economy

Two of the key characteristics defining this historical period are the twin concepts of globalization and the information economy. This transformation - which embodies social, economic, political, technical and cultural processes - is affecting nearly all of the world's people and economies and creating tremendous challenges and opportunities in its wake. An African-driven agenda is needed to confront these challenges and to develop effective strategies to exploit the opportunities presented by these revolutionary developments. This paper used data from published reports, mostly from international organisations. It offers a sweeping overview of the forces contributing to globalization, the transformation of national economies, the potential role of information and communication technologies, and the likely implications and challenges for African countries. It is divided into three parts. In Part I, the paper focuses on an understanding of globalization and the information economy, both defining and critically assessing these terms, and illuminating the depth of the transformation that the global political economy is currently experiencing. Part II, looks specifically at the challenges and opportunities presented by these developments with an understanding of current African realities. Finally, Part III, discusses a way forward for the region, including recommendations for national, sub-regional, regional, and global action and partnerships.