Infrastructure and equipment, however, are only the most visible side of the problem. Although a wave of deregulation and privatization is sweeping through the continent, many landline systems are still in the hands of public monopolies. The cost of internet connection is often prohibitive, and the regulatory environment is an entrepreneur's nightmare. Uncertain consumer protection, security of transaction and privacy of records are also powerful deterrents for e commerce. Trust and image are everything in electronic transactions, and a US consumer may still hesitate before entering his or her credit card details on a Nigerian website.
Education is also a major roadblock.
The World Bank estimates that 39 percent of adults in Sub-Saharan Africa cannot read, which severely shrinks the potential internet base. Securing proper equipment is unlikely to do much good if no one can fix it, or if there are no computer programmers around. At a time when the US and Europe are facing IT labor shortages, they have become magnets for skilled workers from all over the world, lured by better job prospects and salaries. According to a recent report from the International Labor Organization, India, Romania, Russia and Algeria are major exporters of IT brains, and an estimated 1,000 Romanian software professionals are leaving their country every year. Catching up with the so-called new economy is imperative for poorer countries, which otherwise face the prospect of further marginalization.