Towards the end of the Middle Ages, merchants created a network of trading routes that went through cities like Hamburg and Bergen along the Baltic and North seas. In that early era of globalization, all those cities thrived. Today, though ships are still being loaded for world trade, the driver of wealth and globalization has […]
3.3 – What Can Africa Do?
Though the idea is that innovation is unbounded and can happen anywhere because of the ubiquitous processing power and shared knowledge made possible by new technologies, the reality is that innovation has a geographic component. The geography-relevance is not as in the scale of the old industrial economy that valued land as a key element […]
3.2 – Innovation Economy for Africa
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 […]