(November 12-2023) Pakistan’s robust IT sector is eyeing the lucrative African market for exports, which will be highly beneficial for this promising sector, while the country will also get much-needed foreign exchange.
The Pak-Africa Business Forum (PABF) and the High Commission of Pakistan to Rwanda arranged a Zoom meeting between reputable names in Pakistan’s and Rwanda’s IT sectors.
High Commissioner Naeem Khan and PABF’s President Omar Shahid Butt hosted the meeting. The Permanent Secretary of the Ministry of Information, Communication Technology, and Innovation Rwanda (ICT), Mr. Yves Iradukunda, also graced the occasion.
A former executive member of the Pakistan IT Industry Association, Salman Dar, coordinated the meeting proceedings.
On the occasion, PABF’s President Omar Shahid Butt said that revenue in the African IT services market is projected to reach $23.66 billion in 2023, business process outsourcing dominates the market with a volume of $8.70 billion.
The revenue in African market is expected to show an annual growth of 14.06%, resulting in a market volume of US$45.68 billion by 2028, he added.
He added that Africa needs significant investments in broadband connectivity, secure data infrastructure, and governmental and legal reforms that can spark competition.
He added that building digital and physical connections by eliminating barriers like broadband coverage gaps and digital illiteracy will allow people and businesses to reach bigger markets, build businesses, and create jobs.
He said the meeting was part of the PABF’s initiative to promote mutually beneficial trade ties between Pakistan and the African continent. High Commissioner Naeem Khan and Omar Butt were both of the view that Pakistan should boost its exports to the untapped market of Africa.
The African market is less regulated, entering it is comparatively easy therefore it should get proper attention of our IT exporters.
Mr. Salman Dar and others from Pakistan’s IT sector went at length to explain to their counterparts in Rwanda that Pakistani IT products are second to none in the world, and the companies from both sides should work closely to find potential synergies between them.
The meeting concluded with the participants agreeing that close interactions between the two sides should also continue in the future.
