CIME inauguration marks key effort to boost Africa’s economies through innovation, entrepreneurship

Original Story Published by: Centre of Innovation and Maritime Excellence, www.eco-business.com
Photo Source: Courtesy of CIME

Despite the Covid-19 pandemic, Africa’s digital economy system has still achieved strong growth. With an estimated market size of US$72 billion for digital trade by 2025, the digital economy in Africa is expected to exceed $300 billion by 2025 thanks to massive mobile penetration.

However, many small and medium-sized enterprises in traditional industries in Africa lack the talents and skills of new technologies such as big data, cloud computing, artificial intelligence, digital payments, etc., which hinders the sustainable development of Africa’s private sector and social sector.

In September 2022, the inauguration of the Center for Innovation and Maritime Excellence (CIME) was hosted in Djibouti in an effort to address such challenges. CIME was supported by China Merchants Group and operated by Diinsider. The President of Djibouti His Excellency Mr. Ismail Omar Guelleh as well as other distinguished guests joined the event.

“Djibouti aspires to become a training centre for the whole world, providing Djibouti and all African youths with good employment and entrepreneurship training opportunities. CIME will help African youths adapt to more diversified needs of digital trade. Djibouti will strongly support the CIME to ensure the successful implementation of this program of providing high-quality training for young people,” remarked President Guelleh.

CIME aims to promote private sector innovations with training and forums that will serve as a platform for sharing ideas, experiences and strengthening the spirit of leadership and entrepreneurship among youth in Djibouti and countries in the region. This program will also fully explore the advantages of Djibouti’s strategic location to attract young, skilled and dynamic profiles from different African countries to promote the social and economic growth of Djibouti and its neighbouring countries.