An innovation economy is one that positions knowledge, technology, entrepreneurship, and innovation process as integrated pillars, effected by policy, to enhance growth and development. It encapsulates an economic regime in which growth is dependent on the quantity, quality, and accessibility of the information available, rather than on the means of production. It spurs higher productivity through higher value creation […]
3.1 – Africa’s Need for Innovation
Innovation is important for Africa as it must decouple its growth from commodities. Around the globe, rapid and disruptive changes are taking place across business sectors and markets. Indeed, innovation is now global and accessible because it is not just a technology affair anymore; it goes beyond that to new business processes and models. The […]
3.0 – Why is innovation vital for Africa?
There is a broad consensus that Africa has made huge leaps in human and economic developments within the last few years. New markets and sectors like telecoms and movie have been created and Africa is booming. Experts projected annual GDP growth rate of at least 5%[1] in the next decade before the current crash in […]
2.3 – Learning from Global Regions
Africa can learn from many regions around the world on how to develop its innovation systems. A regional-level strategy may be better since some countries are still weak to go it alone in developing some of the infrastructures and basic components needed to build innovation systems. China is as an example of a country that […]
2.2 – Charting a Way Forward
Africa needs to chart a new roadmap. The moment to rekindle the latent innovation spirit is now and the continent must begin the transitioning process of massively transmuting itself into an innovation economy where products and services are created and developed. A new type of economy where knowledge will be fundamental as a factor of […]