Globalization and the Information Economy : Challenges and Opportunities for Africa

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. The inaugural session of the African Development Forum hosted by the United Nations Economic Commission for Africa (ECA) is working to develop an African-driven agenda 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 is divided into three parts and explores these concepts as they related to the Africa region. 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.