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Fourth Revolution: It’s Africa’s Time to Shine

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Nkemdilim Begho

It’s 2038 – exactly 20 years from now – imagine an interconnected world where computing is truly pervasive and everything is automated; we are once again enslaved. Just this time there are no visible shackles; our shackles are virtual.

We don’t own our digital infrastructure, we don’t own our data, our developers write code for the rest of the world and foreign investors largely own our digital private sector.

We are at the mercy of the developed world, tied into long-term agreements and deals that favour the providers of capital, a self inflicted digital colonisation.
A scary, yet very possible future for our continent. How did we get here you ask?

When the world was uniquely describing Africa as the last frontier and speaking about the impact of the 4th Industrial Revolution and the advancement of Africa into a truly developed continent, through cutting edge technologies such as mobile, artificial intelligence, big data, blockchain etc., it appeared we were fast asleep, in a deep slumber, oblivious to what was happening around us.

Oblivious to the fact that it was time to take intentional action towards ensuring that we needed to play an active part in this revolution.

We did not realize that he who builds the infrastructure determines its purpose and use, determines its security and engagement protocols but most critical of all – access.

We did not realize that data and technology ownership is the foundation of every digital nation and that both infrastructure and data must be protected with all our might.

The same way we have signed land and resources away to the Chinese in exchange for infrastructure development and funding, instead of looking within and coming up with strategies that will not only develop our nation, but also empower our people, that same way we signed away our technology infrastructure development and intellectual property, leaving the digitalization of our continent in the hands of anyone who could throw buzzwords like artificial intelligence, blockchain, identity management, virtual and augmented reality around and of course the greatest need of all, provide the much needed capital and ideas.

We signed on the dotted lines, took pictures profusely smiling, thinking we had just hit the jackpot, because the deal seemed too good to be true.

My deepest desire for this continent, my continent, is that we act and collectively awaken from the slumber before it’s too late. You may ask why this topic is relevant now, you may say our leaders have much bigger fish to fry and whilst all of this may be true, we must understand what is before us.

A revolution is truly only identified once it has taken root – in retrospect. It’s inception and life is described like it came to being suddenly.

The reality is that the 4th Industrial Revolution is here. It’s happening! We are already late to the party.

Every tech conference I’ve spoken at this year has focused on digitalization and innovation – the corner stones of this revolution.

At the Digital Africa Conference in Abuja last week, there was an interesting panel on the role our history plays in our current technology development.

It was interesting to hear speakers reference the innovations and technologies of the Benin Kingdom and how they were wiped out when the city was invaded and burnt to the ground hundreds of years ago.

I sat and I wondered how we lost our competitive edge and never thought about getting it back. I wondered when we became comfortable with mediocrity, when low standards became the norm. We accept the poor state of our nation; refer to ourselves as a third world country.

We go out cap in hand asking for aid, subsidies and support, albeit the fact that we have all the resources and all the brains to get our nation back on track.

What do we lack then? Is it the vision or is it the drive and motivation to do better, be better? Is it probably a bit of both mixed with self-interest that surmounts the collective good? We must become part of the on-going conversation and re-ignite the spark we once had.

Our journey ahead: I have spoken at 4 international conferences in the first half of this year – Africa and the 4th Industrial Revolution were the focus of all of them.

In the course of the last few months it has become crystal clear to me that the only ones who are not seriously looking at the digitalization of Africa collectively as an opportunity are Africans.

This realization made me very sad, but also made the sense of urgency for transformation of our continent more obvious than ever before. We need a structured plan that we can implement in order to not get left behind.

At the conferences I spoke at, I made recommendations towards this plan, which I would like to share with you – so here I go:

1. Nigeria & Africa need a future proof national / continental strategy that is driven by innovation, technology and digitalization and forms the cornerstone of all economic development plans and policies.

2. Policy Makers need to educate themselves and ensure that they are able to actively engage in the discussions that are currently going on. They must furthermore embrace disruption instead of being afraid of it. Without disruptive technologies we will not be able to survive in the 4th industrial revolution.

3. We need a Ministry of Innovation & Digitalization that drives the 4th Industrial Revolution in Africa and is lead by a young Minister from the tech industry. All technology acquisitions, deals and developments should be vetted by this ministry to ensure complete alignment with the above-mentioned national strategy.

4. Our educational systems need to be reformed – making technology and innovation the cornerstone of learning and not just another subject. Without a skilled digital workforce we will not only depend on the West, but also remain in poverty.

We must use technology to create enabling environments and teach practical skills. Virtual reality offers a huge potential to teaching practical skills without heavy investment in infrastructure / labs or equipment.
Online learning environments and content from both the educational sector and the private sector are key.

Heavy investments in Research and Development facilities are key. We must also ensure that lecturers are fit for purpose.

Any lecturer who cannot produce digital lecture notes should not be teaching or must be up skilled with a matter of urgency.

5. Policy makers must create policies that accelerate the growth of the tech and tech driven economic ecosystem and spur digitalization, not hamper it.

Our aim should be to scale existing tech and tech driven businesses to create more jobs. Part of these policies should focus on tax breaks, elimination of additional charges / unnecessary license fees, establishment of minority bids for Government procurement, provision of infrastructure through tech hubs / innovation centres, support of locally made technology solutions, grants etc.

6. Local Investors need to be encouraged to invest in locally created technologies, tech and driven companies.

They must also be educated on disruptive technologies and the potentials in order to ensure that local Investors revise their investment strategy in line with the above-mentioned national strategy.

7. Government must engage the local tech ecosystem and hand in hand create a digitalization plan that is sustainable and most importantly future proof. Intimate Private – Public – Partnerships will be required to leapfrog our nation into the future.

8. We must set up Think tanks and research groups that study and research new cutting edge technologies and see how we can localise them, align them with our own cultural values and seamlessly integrate them into our society.

Nigeria and Africa must exploit the comparative advantage of her Diaspora Tech Knowledge resources as a fundamental strategy and imperative to accomplish the accelerated and sustainable delivery of the promise of the 4th Industrial revolution and global competitiveness.

9. We must find ways of leveraging existing technologies in unconventional and innovative ways in both the public and private sector.

10. We must ensure women and youth inclusive policies are made to ensure that women and youth exploit and fully embrace technology and the opportunities it brings.

I strongly believe that Africa with a well articulated path to digitalization and focused implementation and engagement that sees traction over the next 20 years will lead to a continent vastly different to what we currently envision with the contribution of all sectors (agriculture, mining etc).

A truly first world is possible.  Let’s not get left behind! The success of this continent lies with our generation.
By Mrs. Nkemdilim Begho (Founder/CEO Future Software Resources.)

 


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AXA Mansard Empowers Female SMEs with Financial, Digital Skills

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AXA Mansard, a member of AXA has empowered 200 female Small and Medium Enterprises with financial literacy and digital business skills.

In collaboration with SME 100 Africa, the two-day training, which was held in Lagos, is part of AXA’s lined-up programmes to commemorate this year’s International Women’s Day.

Speaking, Olusesan Ogunyooye, Head of Marketing AXA Mansard, said the training was aimed to empower female SME owners with skills to improve business output and position them for the increasing economic opportunities available in an increasingly digital marketplace.

Ogunyooye noted that the move was in line with AXA Mansard’s sustainability agenda, explaining that the company was convinced that support for women through its inclusive protection programmes was pivotal to its purpose of acting for human progress by protecting what matters and its mission of moving from being a payer to a partner.

He further said that focusing on digital skills was important because the company realised the importance of digital skills to the growth of the SME sector in Nigeria and wants to ensure that women were empowered enough to be a consequential part of that growth.

“It’s almost trite to say that SMEs are the engine for economic growth, especially in developing countries like Nigeria, where over 45 million adults are business owners. What needs to be continually discussed is how Nigeria is going to unlock that potential for economic development and how much of that potential will be unlocked by women and for women.”

“For us at AXA Mansard, we are aware that digital will play a major role in unlocking these current opportunities and Nigeria’s economic future. So, to ensure that women are equally represented in unlocking these future potentials, that’s why we have collaborated with SME 100 Africa to support them in developing the required skills”.

“Our choice of digital and financial literacy skills is deliberate. We understand the power of the duo. We understand that helping these SMEs with the skills to attract more customers will be a faster means to empower them.

“We see that they have amazing products and services, but they need to understand how to attract value for themselves by attracting the right customers, and you will agree with me that virtually all customer segments are online in one way or another today.

“So, if we can empower them with digital business skills, we would have helped them with the heavy lifting of trying to find and attract customers”. Ogunyooye explained.

According to him, AXA Mansard believes that for the world to experience progress truly, there must be an equitable distribution of creation and access to opportunities for men and women. This quest for balance informed the SHE for Shield initiative, a women-centred inclusive protection programme of AXA Mansard.

SHE for Shield is a group of initiatives designed for the Nigerian woman. The goal is to see them grow, add value, and help them mitigate risks at every step.

According to the company, research has found that access to health care is one of the most important things to Nigerian women, regardless of their economic segment. They desire to be financially independent, secure, and respected in the community.

 


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IFC Invests in New 4DX Ventures Fund to Support Tech Startups in Africa

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IFC is investing $10.5 million in a new fund by 4DX Ventures, a New York-based venture capital firm focused on supporting early-stage African technology companies across a broad set of sectors, including fintech, e-commerce, edtech, climate tech, and health tech.

IFC’s investment in 4DX Ventures Fund III will come from IFC’s $225 million venture capital platform, which was launched last year to strengthen emerging VC ecosystems and invest in early-stage companies in Africa, the Middle East, Central Asia, and Pakistan.

Africa is among the regions least served by venture capital, receiving just 2% of global venture deal volume in the third quarter of 2023. Access to capital on the continent has been further exacerbated by a slowdown in global venture capital investment.

Tech ecosystems are nascent, or even nonexistent, outside of more established markets such as Egypt, Kenya, Nigeria, Senegal, and South Africa.

“IFC and 4DX Ventures share the commitment to supporting tech entrepreneurs with innovations that will help Africa leapfrog in critical areas such as climate, health care, fintech, e-commerce, and education,” said Walter Baddoo, Co-Founder and General Partner of 4DX Ventures.

“We look forward to partnering with IFC to help promising tech startups build transformative businesses and realize sustainable development impact on the continent.”

4DX’s new fund will invest in companies with tech solutions that can improve productivity, efficiency and competitiveness across Africa. The firm’s first two funds invested in companies such as Egypt-based e-commerce platform MaxAB, an IFC portfolio company; Ghana-based health tech firm mPharma; and Kenya-based B2B e-commerce platform Wasoko, formerly known as Sokowatch.

“By supporting the development of tech ecosystems in emerging markets, IFC’s venture capital platform aims to improve access to key services, boost business competitiveness, and promote job creation through digital transformation,” said Mohamed Gouled, Vice President of Industries at IFC.

“Our investment in venture funds such as 4DX Ventures will help African entrepreneurs access more financing and resources they need to scale tech innovations and bolster sustainable growth across the continent.

In addition to providing capital, IFC will work with 4DX Ventures to implement their environmental and social management system.


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Climate Action Africa Announces CAAF24

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Climate Action Africa (CAA) has announced the inaugural convening of the Climate Action Africa Forum (CAAF24). This international event brings together stakeholders from across the world who drive thought leadership insights on how to encourage collaboration, catalyse actionable solutions, and urge governments, businesses, and individuals to invest in climate-smart initiatives.

The climate-focused event was announced at last week’s Friday international press conference held at the prestigious Transcorp Hilton Abuja. This marks a significant milestone in Africa’s journey towards a sustainable future. A precursor to the upcoming Climate Action Africa Forum scheduled for June 17-19, 2024, at the Landmark Events Centre in Lagos, Nigeria, this press conference brought together leaders, experts, and stakeholders from across the globe. The gathering’s main goal was to discuss the urgent need for sustainable development plans and climate-smart investments in Africa.

Framed by the theme “Green Economies, Brighter Futures: Innovating and Investing in Africa’s Climate-Smart Development,” the international press conference became a vibrant platform for insightful discussions, strategic collaborations, and impactful engagements. It convened an esteemed gathering of leaders, experts, and stakeholders to explore solutions for Africa’s pressing environmental challenges.

The event kicked off with a welcome address by the Executive Director and Co-founder of Climate Action Africa, Grace Mbah, who having announced the commencement of event registration as April 2nd, 2024, made the call for tech-driven solutions and innovations in the fields of emissions reduction, transportation, agriculture, energy, circularity and building and construction to apply to participate in the deal room.

Providing insights to attendees on how innovative approaches and collaborative action is at the heart of CAAF24, she extended an opportunity to like minded organisations who would like to partner by hosting side events and finally, a call for volunteers from across the continent.

“It’s no news that the world stands at a critical juncture, where decisive action is imperative to mitigate the adverse impacts of climate change. Against this backdrop, CAAF24 serves as a pivotal platform for key stakeholders to engage in meaningful discourse, and forge collaborative pathways towards a greener, more sustainable future.

The essence of CAAF lies in its commitment to shaping a climate-resilient Africa through co-creation, innovation, and sustainable investment. Through this initiative, we aim to catalyse solutions that enhance the sustainability and prosperity of the continent’s natural resources, people, and economies,” Grace stated.

During the International Press Conference, distinguished speakers and thought leaders emphasised the urgent need for collective action in tackling Africa’s climate challenges.

They delved into critical topics like renewable energy, sustainable agriculture, biodiversity conservation, and climate finance, offering practical insights and inspiring initiatives.

Jummai Vandu, representing the National Council on Climate Change, expressed optimism about the initiative’s outcomes. “Today’s discussions,” she said, “underscore the urgency of our collective efforts to combat climate change. The National Council believes working together is key to driving meaningful action and creating a more sustainable future for Africa and beyond.”

With the International Press Conference complete, the stage is set for CAAF24. Stakeholders will converge to translate ideas into action, forge partnerships, and drive progress towards a climate-smart Africa.

Mrs. Taiwo Fashipe, Head of Media for the Presidential CNG Initiative (P-CNGi), echoed similar sentiments, stating: “The theme of this year’s Climate Action Africa Forum aligns with our goals, vision, and mission at the Presidential CNG Initiative.

“We look forward to using this platform to advance interest in and investment in greener and cleaner energy sources like CNG.”

Standing at a crucial juncture in Africa’s quest for sustainable development, CAAF24, convened by Climate Action Africa in partnership with the National Council on Climate Change, Channels Media Group, and Founder Institute, emerges as a beacon.

It brings together the private and public sectors, guiding the continent towards a future marked by resilience, prosperity, and environmental stewardship.

 


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