- ItemDigitalization and Financial Data Governance in Africa: Challenges and Opportunities(African Economic Research Consortium, 2022-06) Ndemo, Bitange; Mkalama, BenDigitalization has transformed global financial markets and is quickly emerging as an avenue for future economic development. However, due to the dynamic nature of the digitalisation processes, ubiquitous challenges affecting their collection, processing, quality and security of collected data have continued to emerge, thereby creating opportunities for financial data governance. In this policy paper, we outline the state of financial-data governance and practices in Africa. We also identify questions and dilemmas facing scholars, practitioners and policymakers as we journey into a digitalized future.
- ItemThe Economics of Blockchain Within Africa(2022-02) Thegeya, AaronThe advent of blockchain technology offers massive potential for revolutionary innovations that address fundamental constraints and market failures across a wide span of sectors in Africa. Blockchain has the ability to transform economic activity and improve living standards in Africa by overcoming information asymmetry problems, property rights and governance barriers. Blockchain innovations have the ability to boost levels of productivity and unlock capital flows to underserved sectors, in addition to leveraging the increasing returns of information as an input to production in order to spur economic growth.
- ItemMore Than Just a Policy - Day to Day Effects of Data Governance on the Data Scientist(African Economic Research Consortium, 2022-02) Marivate, VukosiThe rise of Data Science and its use in public and private spheres also comes with policy considerations that make for an environment that both allows for the creation of data products while taking into account human factors. The reality is that there is a gap in the understanding of policy makers of the decisions, and their impacts, made by data scientists that may ultimately impact people. At the same time policy makers have held off in some instances to create an environment with clear data governance that allows for the use of data that can lead to better delivery of services and growing the local information economy.
- ItemData Regulation in Africa: Free Flow of Data, Open Data Regimes and Cyber Security(African Economic Research Consortium, 2022-02) B. Ncube, Caroline; Hlomani, HananiThe free flow of data, the adoption of open data regimes and cyber security are three major aspects of data regulation that hold the reigns to the potential development of the continent. This policy brief addresses these aspects in Africa with a focus on regulatory instruments from the different bodies at continental and sub-regional level as well as some national legislation from selected countries. The aim is to draw lessons from the European Union (EU) approach to determine an appropriate African centred approach to data regulation, particularly in the context of increased inter-African trade as envisaged by the Agreement on the African Free Continental Trade Area (AfCFTA) and an enhanced digital economy as motivated for in the Digital Transformation Strategy for Africa (2020 – 2030).
- ItemData Protection Legal Regime and Data Governance in Africa: An Overview(African Economic Research Consortium, 2022-02) Babalola, OlumideThere has been a spike in the processing of personal data across the world and this has led to the need to regulate dealings with information through the creation of legal frameworks. Sadly, Africa, unlike other regions, has been unable to engineer a formidable legal framework for the harmonization data protection enforcement. In other cases where it appears there are legal frameworks for data protection, it efficiency has not been maximized.