Osinbajo urges use of digitech to boost economy

Africa has been urged to take advantage of digital technology to boost economy and mitigate impending challenges.Speaking at a two-day TechMoney and Innovation Summit Africa in Lagos, which ended yesterday, Vice President Yemi Osinbajo said a starting point would be to provide a stable macroeconomic environment that would promote the investments needed for long-term growth.

Represented by his special adviser on economic matters, Dr. Adeyemi Dipeolu, the vice president said: “Government policy can further support the digital economy through budgetary spending and investment incentives.”

“The federal government is holding discussions with African Development Bank (AfDB) on the establishment of $500 million Innovation Fund to support innovation and entrepreneurship, especially in technology-focused small and medium enterprises.”