Science, technology and innovation in Africa have been strengthened in the past decade by the establishment of a number of key technology and innovation hubs. Very few individuals in Africa have start-up experience, however, and the mobilization of financial resources by business start-ups remains challenging.
- Indeed, some 80 per cent of African business start-ups struggle to gain access to funding in their initial stages
- and only seven African start-ups in the field of technology have a market capitalization of more than $1 billion.
To achieve the objectives articulated in the Science, Technology and Innovation Strategy for Africa 2024, financial institutions should facilitate the access of innovators to financial resources, thereby enabling them to scale up their business operations and compete effectively in global markets.
- To provide a multi-stakeholder platform for the candid exchange of views among public and private sector stakeholders, including financial institutions, on challenges, opportunities and actions that must be taken to accelerate the transformation of Africa through education, technology and innovation and prepare young people in Africa for the future;
- To facilitate the sharing of knowledge and good practices to support science, technology and innovation in Africa;
- To discuss how to attract capital from investors with a view to scaling up innovations developed by technology start-ups and innovation hubs and to showcase digital innovations spearheaded by African start-ups and innovators;
- To encourage the formulation of policy recommendations and partnerships that bring together business enterprises, research institutions, governments, development partners and financial institutions with a view to supporting robust science, technology and innovation initiatives that ensure that no one is left behind and that promote implementation of the 2030 Agenda and Agenda 2063.
- The formulation of recommendations will inform preparations for the Summit of the Future, a high-level event scheduled to be held on 22 and 23 September 2024 that will bring together world leaders to forge a new international consensus on how to deliver a better present and safeguard the future.
Programme
Setting the scene - Boosting Africa’s Transformation Through Education, Science, Technology, and Innovation
In this segment eminent leaders (i) reaffirmed the role and their commitment to education, science, technology, and
innovation to drive Africa’s transformation; (ii) shared their views the existing untapped opportunities that must be
harnessed; (iii) the important role that private sector plays in this ambition; & (iv) shared strides or key
milestones their administrations are making/achieving.
Trail Blazers in Action
This session showcased examples of transboundary initiatives representing the 5 regions that are operational and making
an impact. Presenters pitched how their
company is making a developmental impact across Africa’s borders and possibly beyond; how
emerging technologies are changing the landscape of the start-up ecosystem; and to highlight
the types of bottlenecks start-ups face in scaling products and services, including those related
to financing or investment.
- Moderator: Ms Pren-Tsilya Boa-Guehe, Government Affairs & Public Policy Manager, Google Africa
- Mr. Olugbenga Agboola, Co-founder and CEO of Flutterwave - fintech solution operating Nigeria, United States, The United Kingdom, Canada, Ghana, Kenya, Uganda, Tanzania, South Africa, Zambia, Cameroon, Ivory Coast, Sierra Leone, Burkina Faso, Guinea-Bissau, Mali, Senegal, Rwanda, Tunisia, Guinea Conakry and over 30 other Countries
- Mr. Will Clurman. Co-founder and CEO of eKitabu (TBC) - awareness for accessible ICT and how children with disabilities can actively participate in education using accessible digital books – operating in Kenya and Rwanda
- Dr. Peter Owotoki, co-Founder, iZola (health AI startup) (confirmed)
- SA Cordel Robbin-Coker, Carry1st CEO - growth partner for game developers looking to scale in Africa
- NA- Mr. Karim Beguir, Co-Founder & CEO of InstaDeep - InstaDeep delivers AI-powered decision-making systems for the Enterprises - headquarters in London, and offices in Paris, Tunis, Lagos, Dubai and Cape Town.
- Fred Swaniker CEO of Sand Technologies & CEO of the African Leadership Group
- Ms. Beibei Yan - Transsion Holding Investment Director - how Africa can improve its foothold in high-tech services and investment in start ups
Reimagining Africa’s Tech and STEM future
In this segment, panelists shared their views on reimagining Africa’s Tech and STEM future highlighting what it will take
to realise the “Africa We Want”.
This segment examined some key transformative initiatives for Africa, the role that education, science, technology and
innovation will play in them to heighten their impact and highlight the key challenges faced in being able to scale them up for
the impact needed including crowding in the investment needed.
- Dr. Nkem Khumbah, African Academy of Science as Head of STI Policy Systems, Governance and Partnerships (moderator)
- Professor Neil Turok –Higgs Chair of Theoretical Physics, University of Edinburgh and Founder of the African Institute for Mathematical Sciences (AIMS) - Global perspective on science and the future
- H.E. Prof. Mohammed Belhocine African Union Commission Commissioner for Education, Science, Technology, and Innovation - Share reflections on actions that are being taken to transform education systems in Africa to prepare the continent for the future and the bottle necks that must be overcome.
- Dr. Thulani Dlamini, CEO, Council of the Scientific and Industrial Research - What needs to be done in the area of scientific and industrial research to produce the skill set and required knowledge to drive industry and the future of jobs in Africa
- Ms. Somachi Chris-Asoluka, CEO of the Tony Elumelu Foundation - Is the current state of African industry today ambitious enough to boost transformation and create jobs we need for the future?
- Lacina Kone, CEO, Smart Africa (ES- Confirmed) What is required to propel Africa into a digital economy that is globally competitive.
Scaling – up transformative initiatives for developmental impact (video @5:10:20)
This segment examined six key transformative initiatives for Africa, the role that education,
science, technology and innovation will play in them to heighten their impact and highlight the
key challenges faced in being able to scale them up for the impact needed including crowding
in finance/ investment needed.
- Moderator: Mr. Said Adejumobi, Director of the Strategic Planning, Oversight & Results Division, ECA
- Dr. Gainmore Zanamwe, Senior Manager for trade facilitation · African Export-Import Bank (Afreximbank) - Energy - Battery industry– the example of the development of value chains in electric battery and clean energy sector.
- TBC - Energy - the example of green hydrogen to support Africa’s quest for transition of its transport and energy systems
- Mr. Aneto Okeke - Health - the example of the RNA (mRNA) vaccine manufacturing facility in Kigali, Rwanda.
- Mr. Abdoulaye Diack - AI/climate adaptation - Program Manager for Google AI Center in Ghana -
Innovation & solutions: the example of the AI Center in Ghana from combining AI with
satellite imagery for planning to flood forecasting, detect locust outbreaks to improve
maternal health outcomes
@5:39:45: We need to prioritize the digitalisation of African languages - Dr. Anthony Githinji, - Advanced semi-conducting factoring - CEO and Managing Director, Semiconductor Technologies Limited
-
Innovation & solutions – the example of the Origin Initiative, a physical hub in East Africa,
place where people come to innovate and solve human problems with a focus on Agri-tech,
Information and Communication Technology (ICT), and Design
- Mr. Valentine Chitalu (see picture), - Food industry - Group and IC Chairman of Phatisa and also Chair of the Board of
AgDevCo -
Food security- the example of the Common African Agro-Parks Programme (CAAPs) CANCELLED Valentine is an entrepreneur in Zambia and Southern Africa, specialising in private equity and local private sector development.
AgDevCo Limited is incorporated in the UK as a private limited company. Its principal shareholder is AgDevCo Holdings Limited, a company limited by guarantee that exists to preserve AgDevCo’s mission to invest in African agriculture for impact.
Hatch Africa Raised $9.5m from AgDevCo and IDH Farmfit Fund to Expand High-growthPoultry Business in Sub-Saharan Africa. The investment into Flow Equity Africa Ventures (FEAV), the holding company for Hatch’s operations in Kenya, Ghana, and Cote d’Ivoire, will scale Hatch’s innovative business model to millions more smallholder farmer households. Hatch Africa’s purpose is to make farmers healthier and wealthier. The company distributes dualpurpose breeds of day-old-chicks through a large network of agents, who rear the birds to maturity at around five weeks before selling them to smallholders. Hatch chickens are well-suited to being raised in “backyard” conditions and its customers typically own between 5 and 20 birds each. Compared to indigenous breeds, Hatch chickens grow faster, lay more eggs and are more resistant to disease.
Making development investable
This segment focused on the opportunities available to scale private capital mobilization at speed and in the process how
we must ensure no one is left behind. This segment discussed perspectives and bankable investment models, on the opportunities
available to scale private capital mobilization at speed, through co-creating ambitious climate
and Agenda 2063 supportive blended investments and institutional investor-public partnerships
(IIPPs) that leave no one behind.
- Moderator: Dr Hubert Danso, CEO and Chairman, Africa investor (Ai) Group
- Mr. Admassu Tadesse, Trade Development Bank Group President and Managing
Director
"There is a huge gap in the support of SMEs and particularly startups. The good news is that Google intends to set up a major support to startups. Master Card is a partner. Something which we banks are not set up do"
- Mr. Solomon Asamoah, CEO of the Ghana Infrastructure Investment Fund
"We need specialized institutions which focus on SMEs. Using technology will allow to manage SMEs. A lot can be done online" - Ms. Kendra Gaither - U.S. Chamber of Commerce: INVESTING IN AGRICULTURE @6:47:16"We convened the US business community to discuss agricultural investments in Africa".
She presented the report U.S.-Africa Business Center (2023) Enabling Ecosystems:Fostering
environments that support agriculturedevelopment for smallholder farmers in Africa # 43 p.
In this paper, the U.S.-Africa Business Center puts forth a series of policy recommendations to support smallholder farmers in Africa, showing how sustainable agriculture development can help bolster global food security efforts while also yielding additional benefits to employment, national security, and intra-Africa agricultural trade.
Inputs to this paper have been provided by the U.S. private sector, which has a vested interest in the success of African agriculture and years of expertise in the products, solutions, and policies that will help achieve success for the wider agriculture ecosystem. The intention of this paper is to advance policy recommendations for consideration by U.S. and African governments that will create more opportunities for investments and partnerships with the private sector and multinational organizations. - H.E. Ms. Nardos Bekele-Thomas, Chief Executive Officer of the African Union Development Agency (AUDA-NEPAD)
- Ms. Jo Bourne, Chief Technical Officer Global Partnership for Education - What the Global Partnership for Education is doing, the impact it is having and greatest challenges including financing– weave in leaving no one behind
Closing take-aways
- Ms. Tania Habimana TV Anchor on CNBC Africa
- H.E. Prof. Mohammed Belhocine African Union Commission Commissioner for Education, Science, Technology, and Innovation
- Mr. Doron Avni is Google’s Vice President of Government Affairs
- Claver Gatete Executive Secretary, Economic Commission for Africa and UN Under Secretary General,
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