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WATRA Positions West Africa’s $216bn Digital Economy for Growth
The West Africa Telecommunications Regulators Assembly (WATRA) has reaffirmed its commitment to advancing a secure, inclusive, and resilient digital ecosystem in West Africa following the successful conclusion of its 4th Working Groups Meeting in Ouagadougou, Burkina Faso—at a time when the region’s digital economy is expanding rapidly and reshaping growth prospects.
The meeting, hosted by the Autorité de Régulation des Communications Électroniques et des Postes du Burkina Faso (ARCEP), brought together regulators, technical experts, and stakeholders from across the region under the theme: “Building a Secure, Inclusive, and Resilient Digital Ecosystem for West Africa.”
In his opening and closing remarks, the Executive Secretary of WATRA, Mr Aliyu Yusuf Aboki, described the meeting as a significant milestone in the organisation’s evolution, marking the transition from dialogue to the delivery of practical regulatory tools.
Aboki is a telecommunications engineer and policy specialist with over two decades of experience across the ICT sector, including work with global telecommunications firms such as Ericsson and MTN in Nigeria and other markets.
He has played an active role in cross-border regulatory coordination, spectrum policy, and digital transformation initiatives, contributing to policy harmonisation efforts across West Africa and representing regional perspectives in international telecommunications and digital economy engagements.
As Executive Secretary of WATRA, he leads the organisation’s strategic engagement with regional and global stakeholders, helping to shape coherent regulatory frameworks and strengthen Africa’s voice in global discussions on digital policy and telecommunications development.
“Nearly two years after the establishment of the Working Groups, we can take pride in the progress achieved. What began as a vision has evolved into a dynamic mechanism for peer learning, coordination, and knowledge exchange,” Aboki said.
Over the course of the meeting, the Working Groups finalised a set of technical reports covering key areas critical to the region’s digital transformation, including 5G deployment, submarine cable resilience, cybersecurity frameworks, consumer protection, and non-geostationary satellite (NGSO) regulation.
Aboki emphasised that the outputs are intended to serve as practical instruments to guide policy and regulatory action across WATRA’s 16 member states.
“These reports are not merely formalities. They will inform policy, guide regulatory action, and strengthen regional harmonisation,” he stated.
The meeting comes at a time when West Africa’s telecommunications sector is undergoing rapid transformation, driven by emerging technologies such as digital financial services, artificial intelligence, and the Internet of Things (IoT). Aboki noted that this shift requires more adaptive and forward-looking regulatory frameworks, particularly in areas such as data protection, cybersecurity, and digital governance.
He further highlighted that the outcomes of the Working Groups will contribute to the evaluation of WATRA’s 2022–2025 Strategic Plan and inform the development of its 2026–2030 strategy.
“The reports produced here represent concrete evidence of the value generated through this collaborative approach and reaffirm the importance of coordinated regulation in bridging the digital divide in West Africa,” he said.
Economic Context: A Large and Fast-Growing Digital Opportunity
The importance of WATRA’s work is underscored by the scale of the West African economy and the accelerating contribution of digital technologies.
The ECOWAS region, comprising over 400 million people, has a combined GDP estimated at approximately $700–800 billion in nominal terms, with Nigeria accounting for more than two-thirds of economic output. This makes West Africa one of the most economically significant regions on the African continent.
Digital technologies are playing an increasingly central role in this growth. According to industry and multilateral estimates, the digital economy contributes between 4% and 6% of GDP across many African markets, with mobile technologies alone accounting for roughly 4–5% of GDP in West Africa, and rising steadily as connectivity improves.
Within this context, the West African digital market—spanning e-commerce, digital payments, connectivity services, and platforms—has been estimated at over $200 billion, with recent projections placing it above $216 billion in 2024, reflecting rapid expansion in mobile penetration, fintech adoption, and platform-based services.
Beyond scale, the digital economy is increasingly recognised as a critical driver of:
- Economic growth, through productivity gains and new enterprise creation
- Welfare improvements, by expanding access to financial services, education, and healthcare
- Inclusion, particularly by connecting rural and underserved populations
Across the region, a number of leading markets are shaping this transformation:
- Nigeria, the region’s largest digital economy and home to major telecom and fintech players
- Ghana, a fast-growing hub for digital payments and financial innovation
- Côte d’Ivoire and Senegal, which are emerging as key digital and infrastructure growth centres
These dynamics reinforce the importance of coordinated regulatory frameworks—such as those being developed through WATRA—to ensure that digital growth translates into broad-based economic and social gains.
The Executive Secretary also confirmed that the recommendations arising from the meeting will be presented to the WATRA General Assembly for consideration and adoption.
WATRA expressed its appreciation to the Government of Burkina Faso and ARCEP Burkina Faso for hosting the meeting, commending their support and commitment to regional cooperation. Special recognition was given to the Chairman of the Regulatory Council of ARCEP, Dr Pasteur Poda, and the Executive Secretary, Mr Patrice Compaoré, for their leadership.
Aboki also acknowledged the contributions of the Working Group members, Co-Chairs, Rapporteurs, and the WATRA Secretariat, noting that their voluntary efforts have been instrumental in strengthening the organisation’s technical capacity and relevance.
“As we transition into the next strategic cycle, we expect even greater impact from WATRA’s work. This will depend on sustained collaboration and the continued engagement of our experts across the region,” he added.
He concluded by reaffirming WATRA’s commitment to deepening regional cooperation and supporting the implementation of harmonised regulatory frameworks to enable digital growth and inclusion across West Africa.
Africa Prudential Plc has reaffirmed its commitment to sustainable growth and digital transformation after posting another strong half-year financial performance, driven by robust growth in its core registrar business, technology-driven solutions and increased activity in Nigeria’s capital market.
Speaking during the company’s H1 2026 Investor Call on Tuesday, the management outlined plans to deepen revenue diversification and accelerate innovation as part of efforts to reduce reliance on interest income and strengthen long-term profitability.
The company reported gross earnings of ₦4.28 billion for the first half of 2026, representing a 27 per cent increase from ₦3.34 billion recorded in the corresponding period of 2025.
Profit before tax rose by 22 per cent to ₦2.41 billion, while profit after tax climbed 18 per cent to ₦1.59 billion.
Net operating income also increased by 27 per cent to ₦4.21 billion, while total assets grew by 13 per cent to ₦46.53 billion. Shareholders’ funds similarly rose by 13 per cent to ₦12.52 billion.
According to the company, the impressive performance was driven by sustained growth in its registrar business, increased corporate actions across the Nigerian capital market, stronger treasury earnings supported by the prevailing interest rate environment and rising adoption of its technology-enabled products and services.African Mineral Wealth
Managing Director and Chief Executive Officer, Dr. Catherine Nwosu, said Africa Prudential is steadily evolving from a traditional share registrar into a diversified technology and business solutions provider serving the broader capital market ecosystem.
Addressing concerns from investors about the sustainability of earnings if interest rates decline, Nwosu said the company was deliberately expanding its non-interest income sources.
“Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams. Our strategy is to grow recurring fee-based business lines such as our digital solutions, Know Your Customer (KYC) services, AGM technology, probate services and the SabiVest mobile app. Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix,” she said.
She noted that increasing activity in the Nigerian capital market presents fresh opportunities for technology-driven solutions.
“With capital market activity nearly doubling over the past year, demand for seamless digital investor experiences, improved market efficiency and stronger compliance standards continues to grow. We are investing in technology-enabled solutions that position us to capitalise on these opportunities while delivering sustainable value to our shareholders,” she added.
Looking ahead, the company identified five strategic priorities for the second half of 2026, including driving sustainable growth through its core registrar business and new revenue streams, accelerating technology-led product innovation, strengthening brand leadership, investing in talent development and reinforcing corporate governance.
The investor call attracted institutional investors, shareholders, analysts, regulators and other capital market stakeholders, reflecting strong interest in Africa Prudential’s earnings outlook, revenue diversification strategy and long-term growth plans.
News
IHS Nigeria Donates Business-Support Equipment to Empower People with Disabilities in Abuja Community
Communications infrastructure company, IHS Nigeria, has donated business support equipment to empower people with disabilities within the Karonmajiji community in the Federal Capital Territory, Abuja. This is part of the company’s commitment to drive inclusive community development and sustainable livelihood support under its Project Empower initiative.
The equipment was distributed to beneficiaries during a ceremony held in the community on Monday, July 27. The initiative was conceived following a community needs assessment and is designed to empower active traders by providing them with business tools rather than cash grants, thereby strengthening their businesses and ensuring long-term economic impact and accountability.
Speaking at the event, Director, Sustainability, IHS Nigeria, Titilope Oguntuga, described the initiative as a reflection of the company’s commitment to advancing inclusive development by equipping persons with disabilities with the tools and opportunities needed to build resilient livelihoods.
She explained that rather than providing short-term financial assistance, IHS Nigeria adopted an asset-based approach by donating 50 pieces of business support equipment, including sewing machines, freezers, generators and hairdressing kits, to the selected beneficiaries.
According to her, the intervention is designed to create lasting value by supporting entrepreneurship, promoting self-reliance and strengthening household incomes, while contributing to the achievement of the United Nations Sustainable Development Goals, particularly SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth) and SDG 10 (Reduced Inequalities).
In his opening remarks, the Chief of the Karonmajiji Disabled Community, Alhaji Sulaiman Muhammed Katsina, represented by the Secretary of the Community, Alhaji Mohammed Dantani commended IHS Nigeria for its commitment to empowering persons with disabilities through practical and sustainable interventions.
He described the initiative as a demonstration of genuine partnership with the community and expressed appreciation for the company’s continued engagement with the Association, noting that the donation of the equipment was a significant investment in improving the livelihoods of persons with disabilities and would create meaningful economic opportunities for the beneficiaries and their families.
The event brought together traditional rulers, government representatives, leaders and members of the Karonmajiji Disabled Community Association, implementing partners, including Field of Skills and Dreams Vocational Technical and Entrepreneurship (FSD VTE) Training Institute and other community stakeholders, reaffirming a shared commitment to promoting inclusion and sustainable community development.
Project Empower reinforces IHS Nigeria’s commitment to advancing sustainable development through strategic partnerships that promote economic inclusion, strengthen community resilience and create opportunities for underserved communities.
The Chartered Institute of Bankers (CIBN) and the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) have enjoined banks to further deepen and prioritize financial inclusion, women’s empowerment and sustained growth through strategic mandates and frameworks, aimed at closing the financial gap and empowering more small, and medium enterprise (MSME) owners.
Both organisations made this call during a courtesy visit to the newly invested 24th President and Chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN), Dr. Dele Alabi, Ph.D, FCIB, as part of plans to congratulate him on his investiture as well as seek a stronger alliance between both bodies.
The visit followed Alabi’s investiture where he unveiled his “IMPACT” Vision, themed “Consolidating Our Local Impact, Enhancing Our Global Relevance.”
The vision rests on six pillars: Inclusion across geographic, gender, and generational lines; Membership growth and quality; Professionalism and ethics; Accountability; Competencies and skills development; Technology, automation, and innovation. Other areas of shared interest, include women empowerment, financial inclusion and literacy, as well as MSME clinics, all of which are top on his agenda.
Alabi explained that under him, the institute will be prioritising financial inclusion and women empowerment, because of its realisation that women are often the primary financial managers and caregivers in families. Access to savings, micro-credit, and insurance acts as a safety net during crisis and allows them to significantly improve living conditions.
He added that CIBN would be happy to drive joint knowledge sharing and exchange sessions with CBN and ACAMB across various platforms. “Educating the public through public awareness programmes, with ACAMB as the rallying point, is central to what we do,” he noted.
ACAMB President, Jide Sipe, who led the delegation, spoke in unison with the CIBN president, as he noted that, closing the inbalances in financial access help economies grow faster, reduces inequality, and encourages greater civic participation by all.
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