Following the announcement of its digital transformation ambitions, Somalia has launched a public consultation to finalize a national strategy for its mid-term digitization goals.
According to a report, the Ministry of Communications and Technology (MoCT) and the International Telecommunication Union (ITU) have teamed up to host a National Multi-Stakeholder Consultation Workshop. The two-day workshop is intended to validate the East African nation’s Digital Transformation Strategy (2025-2030) ahead of mainstream implementation.
The national blueprint, a brainchild of MoCT, aims to create an inclusive digital policy while targeting the rise of e-governance utility by the end of the decade. Furthermore, the blueprint seeks to develop digital skills among citizens in artificial intelligence (AI), distributed ledger technology (DLT), and Internet of Things (IoT) technologies.
While the blueprint has gained traction among regulatory authorities, MoCT is opting for a public consultation to seek expert opinion on the government’s five-year plan. The event, held on October 12-13, drew representatives from licensed telecom operators, academia, and relevant government institutions.
In his keynote address, Mustafa Almahdi, Program Officer at the ITU Arab Regional Office, emphasized that collaboration between the public and private sectors is crucial for refining the Digital Transformation strategy. Meanwhile, Communications and Technology Minister Mohamed Adan Moallim Ali revealed in his address that the public consultation will confer legitimacy and improve accountability among policymakers.
Attendees to the event deliberated over the finer details of the five-year blueprint, sharing insights into the strategic pillars and implementation process for set objectives. Particularly, experts showed concern toward the financing models and the roadmap’s compatibility with the African Union’s digital transformation strategy.
“This strategy will guide Somalia’s journey toward a knowledge-based economy – one that empowers citizens, promotes innovation, and strengthens governance through technology,” said Ali.
Building on a strong streak of progress
Somalia’s public consultation comes on the heels of a series of digital transformation initiatives. The East African country has introduced rules to legitimize the use of digital IDs in key sectors of the economy, eyeing improved access to essential public services.
Furthermore, the country has signed a Memorandum of Understanding (MoU) with the United Nations Development Program (UNDP) to accelerate the pace of digital transformation. Early in the year, Somalia introduced a national instant payment scheme to reduce cash-based transactions and improve financial inclusivity metrics.
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Digital asset payments go mainstream in South Africa
In other news, a new partnership between Scan to Pay and MoneyBadger is set to revolutionize South Africa’s digital asset payment ecosystem, bringing it on par with traditional payment alternatives.
The partnership between two key financial sector players will allow South Africans to spend digital assets at over 650,000 Scan to Pay-enabled stores. Users of leading digital currency exchanges can pay merchants using a raft of digital currencies.
A joint statement noted that customers will not need to convert their digital assets to local fiat currency before making payments. Leaning on MoneyBadger’s platform, the new service links directly to users’ BTC Lightning accounts and digital asset exchanges to support instant payments with digital assets.
Before the partnership, digital asset holders in South Africa had to convert their holdings to rand before making payments. However, the new collaboration will support instant payments with BTC, stablecoins, and a raft of other digital assets, with merchants receiving funds in rands via Scan to Pay infrastructure.
By elevating virtual currency transactions to the same status as credit and debit card payments, experts say the offering will improve the financial inclusion metric for South Africa. Others are pointing to the benefits of a surge in digital asset adoption in the country, particularly in the novel use case of payments, which simplifies the process via QR codes.
“This collaboration represents a significant step towards financial inclusion,” said Theo Koma, product owner at Scan to Pay. “By removing the conversion step, we’re making it possible for people to use their cryptocurrency holdings directly.”
Experts have highlighted a new trend among digital asset holders in South Africa, with a growing number keen on using their holdings for everyday transactions. Previously, investors held BTC and other digital assets as an investment vehicle; however, the new partnership with Scan to Pay and MoneyBadger is poised to change the narrative.
“South Africans are increasingly moving from holding bitcoin as an investment to using it for everyday spending,” said MoneyBadger CEO Carel van Wyk. “This move expands the number of places where South Africans can pay with Bitcoin significantly.”
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A changing regulatory climate for digital assets
Amid the rising interest in digital assets in South Africa, authorities are scrambling to introduce watertight regulations for the emerging sector. For starters, industry players are urging regulators to classify digital assets as onshore assets as part of their policing of the industry.
Meanwhile, authorities have confirmed that digital assets are not subject to forex controls, a decision that has elicited excitement among sector players. Despite the changing regulatory climate, experts are urging retail players not to invest all their assets in virtual currencies, citing the grim prospects of volatility and other black swan events as the basis for their argument.
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Watch: Tech redefines how things are done—Africa is here for it
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Source: https://coingeek.com/somalia-opens-consultations-for-digital-transformation/
