The Rise of Africa: Innovation, Responsibility, and Sustainable Development

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The narrative of a rise in Africa has been challenged. About ten years ago, I spoke about an Africa of hope and opportunity, an Africa of entrepreneurs, an Africa very different from the Africa that you normally hear about of death, poverty and disease. And that's what I spoke about became part of what is known as the narrative of the rise in Africa. I want to tell you two stories about this rise in Africa. The first has to do with Rwanda, a country that has gone through many trials and tribulations. And Rwanda has decided to become the technology hobo, a technology hobo in the continent. It's a country with mountainous and hilly terrain, a little bit like here. So it's very difficult to deliver services to people. So what has Rwanda said in order to save lives is going to try using drones to deliver life-saving drugs, vaccines and blood to people in hard to reach places in partnership with a company called Zipline with UPS and also with the Gavi, the Global Vaccine Alliance. In doing this, it will save lives. This is part of the type of innovation we want to see in the rise in Africa.

Another story has to do with climate-related challenges. Many African countries often suffer from droughts and floods, and these events are becoming more frequent due to climate change. Traditionally, they would wait for international appeals to raise money. To address this, 32 countries came together under the African Union to form an organization called the African Risk Capacity. It functions as a weather-based insurance agency. Each country pays an annual premium of around $3 million from its own resources so that in case of severe droughts or floods, the money is automatically paid out to help populations immediately. Last year, the African Risk Capacity paid $26 million to Mauritania, Senegal, and Niger, helping 1.3 million affected people by restoring livelihoods, buying cattle fodder, feeding children in schools, and preventing migration from disaster-struck areas. This story shows Africa taking responsibility for its own solutions.

However, the narrative of a rise in Africa has faced challenges recently. Although the continent had been growing at about 5% per annum over the past one and a half decades, this year's forecast dropped to 3%. Reasons include global economic uncertainty, falling commodity prices, and external issues such as Brexit. This situation calls for reflection on past successes and failures, and how Africa can continue to rise. There are six major successes worth noting: better management of economies, debt reduction, restructuring loss-making enterprises, the telecoms revolution, investments in education and health, and a reduction in conflicts.

During the 80s and 90s, Africa struggled economically. In the 2000s, policymakers learned to manage macroeconomic environments better, maintaining low inflation, fiscal discipline, and stability to attract domestic and foreign investment. Debt relief programs, such as the Highly Indebted Poor Countries initiative, helped reduce the debt-to-GDP ratio from 130% in 1994 to around 30% in 2005, freeing up resources for development. Loss-making government enterprises were restructured, privatized, or closed. Additionally, the telecoms revolution enabled 687 million mobile lines across Africa, compared to 11 million in 2000, supporting mobile money services in Kenya and access to alternative energy.

Despite growth, Africa faced major challenges. Job creation remained insufficient, with high unemployment and underemployment. The quality of growth was low, moving people from low-productivity agriculture to low-productivity commerce and informal urban sectors. Inequality rose, with billionaires accumulating more wealth than the bottom 75 million people. Absolute poverty numbers stayed high due to population growth, and infrastructure investment was inadequate. Electricity consumption in sub-Saharan Africa remains equivalent to Spain's, limiting development. Economies still depend heavily on commodities, with low manufacturing and internal trade. Weak governance and corruption persist, alongside new security threats such as Boko Haram and El Shabaab. Education systems are broken, failing to equip youth with future-ready skills.

To move forward, Africa must learn to manage success by reinforcing what works: economic management, stability, debt control, and policy consistency. Priority areas include infrastructure, especially power, governance and anti-corruption measures, and engaging young people. Youth possess creativity and potential to innovate and lead. Similarly, the talents of women and girls must be recognized and unleashed. If these measures are implemented, the rise of Africa will not be temporary but a lasting trend, despite occasional setbacks. Investments in Africa should be viewed as long-term opportunities.

Fighting corruption comes with personal risks. Leaders face pushback and threats, such as kidnapping attempts against family members. Yet, the commitment to establish strong institutions and prevent the theft of Africa's future remains essential. The continent must continue the fight, maintaining integrity and transparency, ensuring that no one is allowed to derail Africa's progress.