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The Digital Transformation with Africa (DTA) initiative was launched as part of the U.S.-Africa Leaders Summit hosted by U.S. President Joe Biden in December 2022. Now in its second year, DTA has ushered in pledges of $800 million ($350 million in investments and $450 million in finance facilitation) to accelerate digital transformation in Africa through three streams: digital economy and infrastructure, human capital development, and the digital enabling environment.
Is it possible for Nigeria to successfully implement a redesign policy for its currency, the naira, when the informal sector accounts for 65 percent of the country’s GDP and 93 percent of employment, and when 90 percent of transactions in the informal economy are in cash?1 The Central Bank of Nigeria (CBN) introduced new banknotes on October 26, 2022, for the naira denominations of 200, 500, and 1,000.
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