African ICT Ministers, policymakers and stakeholders have been urged to institute policy reforms within Africa’s ICT sector with a view toward the harmonization of better ICT policies for the continent’s digital economy.
According to Kenya’s Cabinet Secretary for Information, Communication and Digital Economy, Eliud Owalo, outdated policies are limiting investment in the continent’s ICT sector. The Cabinet Secretary has singled out policies such as the 30% local shareholding rule for foreign companies to invest in Kenya’s ICT sector as a hindrance to foreign direct investment.
“In Kenya, for example, we have managed to waive the 30% local content requirements that necessitated that ICT companies must have 30% local ownership. What is the purpose of having a law that impedes foreign direct capital investment? That is the direction that we need to go as Africa, making sure that there is foreign direct capital investment while at the same time also protecting our own local interests as Africa.” said the CS. (Press release)
