Speakers during a Doha Forum panel discussion on ‘Post-pandemic Africa’, yesterday.
Africa’s young population, investment in technology and food security are set to drive the continent’s post-pandemic recovery in the next three to five years, panellists at the Doha Forum disclosed yesterday.
A high-level group of speakers across government, technology, finance and entrepreneurship included H E Kandia Kamissoko Camara, Minister of State, Minister of Foreign Affairs of Ivory Coast, H E Godwin Obaseki, Governor of Edo State of Nigeria, Charles Murito, Director, Sub Saharan Africa, Government Affairs & Public Policy, Google, Wale Adeosun, Chief Investment Officer, Kuramo Capital Management and Ken Njoroge, Founder, Cellulant.
Joe Eshun, CEO of Deloitte East Africa, moderated the panel discussion on ‘Post Pandemic Africa.’
Obaseki said the main effect of COVID-19 was the disruption of livelihood and small businesses. He said the lockdown gave rise to startups and technology, while the war in Ukrainian has exposed the inadequacy of the global food system.
“The pandemic drained the capital of small and medium scale businesses, but this opened an opportunity for investment because most of them began using technology. This, in turn, has boosted tech startups, and young people in that space are now making a living working for companies outside the country.
“However, the Ukrainian war has created a real alarm for our food systems. With the increase in food prices, particularly in staples like wheat, grain, rice, etc., we must invest in large-scale agriculture. We have rolled out programmes to trigger investments in this aspect and utilize technology to exploit production,” Obaseki added.
On the other hand, Murito said Africa’s young population, which covers a third of the world’s population, should be empowered to fill the future jobs locally and internationally.
“Research shows over a third of the world’s workforce would be based in Africa by 2050. Africa will be serving the world when it comes to the young people needed to fill jobs globally,” he said.
Adeosun added that there is exponential growth in venture capital being raised for startups in Africa, and the informal economy (creative arts space) has helped Africa lower the risk perception in the continent. He stressed that the effects of income from the informal economy and young tech problem solvers have also boosted reinvestment into the local economy.
Earlier, Sheikha Al Mayassa bint Tamim bin Hamad Al Thani said Qatar looks forward to exploring ways to partner with Africa and discuss business opportunities that can empower the continent.
She noted the Qatar-Africa Business Forum and how the platform can foster trust and partnership among countries and continue building bridges between Africa and Qatar.
Sheikha Al Mayassa said a Fashion for Relief programme would be held in October in Doha with Education Above All Foundation. The proceeds will enable investment in creative programmes, particularly in Africa.
