In the wake of new challenges and prolonged oil dependency, Equatorial Guinea’s government is aiming for economic diversification as a key course of action for growth and stability. Digital transformation could play a critical role in driving diversification, financial inclusion, poverty reduction, and job creation. In 2021, the National Development Plan 2035 introduced technology and innovation as a cross-cutting theme, placing the digital economy at the center of the diversification strategy. The government is also implementing the Digital Agenda for Equatorial Guinea (ADIGE), a strategic plan with four objectives: universalization of access to telecommunications services; digitizing administrative procedures; supporting and enhancing the ICT sector; and empowering citizens to use digital tools.
As a result, the Digital Economy Country Diagnostic for Equatorial Guinea was developed by the World Bank and the Government of Equatorial Guinea to identify key challenges and opportunities along five foundations of the digital economy: digital infrastructure, digital public platforms, digital financial services, digital businesses, and digital skills. The report puts forward actionable recommendations categorized by priority level and sequencing.
Key Findings
Under the Digital Infrastructure pillar, operators aiming to reduce telecom service tariffs mark positive strides towards ensuring that broadband becomes more affordable and accessible in the country. However, regulatory challenges and limited competition in the broadband sector, as well as cybersecurity weaknesses continue to be significant hurdles.
The launch of a digital civil registry pilot in 2018 sets an important milestone for Digital Public Platforms in Equatorial Guinea. The country has also introduced laws and decrees to help digitize the public sector; yet efforts remain to strengthen its regulatory framework and implement digital identity.
Digital Financial Services (DFS) in Equatorial Guinea are in early stages, with limited banks offering DFS. The focus on financial stability has delayed digital transformation. The country still needs to establish a licensed e-money operator to provide mobile money services, while connectivity issues hinder DFS development. Financial inclusion could also be reinforced by implementing a national financial education strategy.
The digital business ecosystem is still emerging with few domestic digital services and nascent groups of incubators, accelerators, and civil associations. Barriers for digital entrepreneurs include limited internet access, challenging access to finance, a shortage of digital skills, and a weak regulatory framework. Initiatives like the Single Business Window aim to improve the business climate but significant challenges remain.
Access to education in Equatorial Guinea has improved but there are still limitations to producing a digitally skilled population at scale. Strengthening the digital skills framework requires specific ICT policies in education, better coordination, and improved infrastructure. Enhancing STEM education, teacher training, and including ICT in curricula are crucial steps. Higher education institutions also need to expand their capacity to address the digital skills mismatch and support economic diversification.
Recommendations
The highlighted quick-win recommendations from across the five pillars include:
Digital Infrastructure: Apply cost-oriented obligations in international capacity and national network fiber wholesale markets; conduct a cybersecurity maturity assessment.
Digital Public Platforms: Develop a national strategy for digital public platforms; strengthen a whole-of-government approach.
Digital Financial Services: Assess the need to expand agent networks to foster DFS adoption especially in remote areas.
Digital Businesses: Articulate a roadmap for developing an inclusive digital entrepreneurship ecosystem; promote public-private dialogue.
Digital Skills: Develop a national education ICT policy; conduct a digital skills gaps assessment.
Moving forward it will be crucial for Equatorial Guinea's government to implement comprehensive reforms across these pillars while addressing key cross-cutting issues such as enhancing data quality coverage usage improving institutional coordination reliable electricity reinforcing legal regulatory frameworks bridging both island-continental divides gender gaps.