High speed Internet, mobile phones key to economic growth – World Bank

The Internet and mobile phone have been identified as the keys to economic growth in developing countries.

The World Bank in a report says, it has found evidence in Ghana and Brazil which indicates that governments using Internet technology can be more efficient, transparent and responsive in govenance.

The report released Tuesday June 30, 2009 said access to affordable hi-speed Internet and mobile phones enhances opportunities for economic growth.

The report found that for every 10% increase in high speed Internet connections, there is a 1.3 percent increase in economic growth.

It also said mobile phones are the single most powerful way to reach and deliver public and private services to people in remote and rural areas in developing countries.

It identified broadband Internet as the foundation for local information technology (IT) services. These services create youth employment, increase productivity and exports and promote social inclusion, the Bank said .

By Emmanuel K. Dogbevi