Photo: Hans vestberg

Verizon-led alliance to promote investment in connectivity

26 February 2021

by Sarah Wray

The World Economic Forum (WEF) has brought together a new cross-sector coalition including Verizon, Google and Mastercard to expand affordable connectivity globally.

A key priority will be fostering better collaboration between investors, technology companies, industry verticals and the public sector.

The Board of the Essential Digital Infrastructure and Services Network (EDISON) Alliance will be chaired by Hans Vestberg, Verizon’s Chairman and Chief Executive Officer. Other board members are Paula Ingabire, Rwanda’s Minister for ICT and Innovation; Ajay Banga, the Executive Chairman of MasterCard; Shobana Kamineni Executive Vice Chairperson of Apollo Hospitals; and Robert F. Smith, Founder, Chairman and CEO of investment firm Vista Equity Partners.

A wider group of partners will advise and support the Alliance, including Google, American Tower Corporation, Brightstar Capital Partners, Ericsson, Nokia and the GSMA.

“This marks the first time so many leaders from so many industries are coming together from the public and private sector to close the digital divide,” said Derek O’Halloran, Head of the Digital Economy and New Value Creation Platform at the World Economic Forum. “Accelerating digital infrastructure and broadband rollout is foundational to economic recovery, addressing inequality, and achieving the Sustainable Development Goals. It is critical to move together and move fast.”

A spokesperson for Verizon told Cities Today that the Alliance will work to “build a movement as if digital access were one of the Sustainable Development Goals (SDGs) cutting across all 17 SDGs”.

This will include setting tangible outcomes and actions and fostering new partnerships.

Multi-sector effort

The announcement comes as the pandemic has exposed and exacerbated existing gaps and inequalities in access to digital technology. Almost half of the global population, some 3.6 billion people, remain offline and broadband services are too expensive for 50 percent of the population in developed countries, according to the WEF, which noted that “connectivity deserts” hamper access to health, education and economic inclusion.

The Alliance will work to bridge the “current lack of coordination between the technology providers, investors and other players in critical sectors of the economy”.

Verizon’s spokesperson said: “One challenge historically is that for many countries with non-diversified economies, the regulated telco can be an attractive fiscal income source. However, there is a growing realisation that digital access is an essential enabler of multiple sectors – and as such, investment in digital inclusion is not a single sector question, but one of national development, in particular in the context of the post-Covid-19 economic recovery.

“The Alliance will work with the growing number of public and private investment institutions and the technical and policy bodies to facilitate a new approach to create the right environment for mobilising capital at scale.”

Vestberg commented: “This is a critical moment for leaders across all sectors to join forces and recognize access and affordability to digital services as a top priority for recovery in every country.”

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