Globally, policies have always been set with the intention of fostering and transforming a nation’s economy. In Africa, however, a lot of these policies are outdated and no longer match the current realities of a developing continent.
According to the United Nations, Africa has the youngest population in the world with 70% of Sub-Saharan Africa under the age of 30, and by 2030, young people in Africa are expected to make up 42% of the world’s youth population. With this projection, the active participation of young people in the decision and policy-making process in African countries is non-negotiable. Yet, as we have it today, the bulk of policymakers and those in government do not possess adequate creative and innovative ideas needed to improve the situation of their countries.
Now that young Africans are finding their foot in technology, they are also constantly devising ways to ensure the survival of their ideas or ventures despite harsh policies and restrictions. We’ve seen these restrictions surface in different sectors like fintech, cryptocurrency and even transportation. You might remember the taxation and operational policies introduced by the Nigerian government in 2020 for e-ride hailing services.
While technology keeps expanding, its impact on our economy and society continues to grow as well. This impact is seen in the African Private Equity and Venture Capital Association (AVCA) report that says African start-ups recorded $5.2 billion in venture capital in 2021 and the figure is expected to rise exponentially at the end of 2022. To experience the predicted growth, African governments – who are one of the key drivers of technological change – need to rapidly build and deploy a digital economic policy that will open up and connect economies while creating opportunities for its growing youth.
Amidst all these challenges, one thing is certain. Africa has never lacked the brainpower to get things done, and with the little we have in terms of infrastructure, our tech superstars are going toe to toe with talents around the world without flinching.
This resilience has birthed the rise in demand for talented young Africans in the tech space with companies like Andela shipping out software engineers to Europe, Canada, America, and other western countries. If our value and potential are not recognised on a global scale, having the likes of Microsoft spend $100 million to provide a software development centre in Lagos, Nigeria and Nairobi, Kenya would have only been a distant dream. Although employers and investors from highly developed countries are taking advantage of Africans’ quest for exposure and knowledge by underpaying us, that seems to be the price we have to pay until we prioritise establishing an enabling environment for tech to thrive in Africa. With the right environment, infrastructure, and policies, everything is possible.
Contrary to how we’ve had it in the past, tech markets of the world are envisaging rapid advancements in IoT, blockchain, robotics, big data, AI, and an endless list of technologies by 2025. In a hyperconnected world, no sector of the economy will be untouched by these changes and only those who adapt quickly will survive.
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Prince Ehima is a Lead Designer at ID Africa. He is enthusiastic about the future of technology and how young people can take advantage of opportunities to thrive against all odds.
