mchambawima1
JF-Expert Member
- Oct 16, 2014
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Elsie Kanza, the head of Africa at the World Economic Forum. PHOTO | TEA GRAPHIC
By BERNA NAMATA
Posted Saturday, May 7 2016 at 15:39
IN SUMMARY
Experience:
2014: Head of Africa, member of executive committee, World Economic Forum.
2011: World Economic Forum
2006-2011: Personal assistant to then Tanzanian President Jakaya Kikwete, responsible for economic affairs.
1997-2006: Ministry of Finance and Central Bank of Tanzania.
Fellowship, nominee:
2008: Archbishop Desmond Tutu Leadership Fellow.
2011: Young Global Leader nominee, World Economic Forum.
2011: Rising Talents nominee, Women’s Forum for the Economy and Society.
Education: BSc (Hons) in International Business Administration; MSc in Finance; MA in Development Economics; Doctor of Business Administration honoris causa, University of Strathclyde.
How is technology transforming Africa’s digital marketplace?
Our annual meeting in Davos-Klosters, Switzerland this year was convened under the theme of “Mastering the Fourth Industrial Revolution.” This was a reflection of the fact that today, our world is witnessing unprecedented levels of innovation that are changing not only the way that economies, but also societies, work. We do not yet know what impact these changes will have on our world but we do know that change is coming. In order to ensure that technology serves humanity in the future, it is imperative we understand these risks and prepare ourselves for life in a vastly different future.
In Africa, this narrative is even more important. The Fourth Industrial Revolution offers an historic opportunity to build a future based on knowledge, not natural resources. In order to do this, the right kinds of investments must be made in infrastructure, education, and institutions so that we can unlock the commercial and creative energy of Africa’s burgeoning population.
How can Africa use the Fourth Industrial Revolution to deliver economic growth and social prosperity?
In development, we often use the term “leapfrogging.” It means overtaking more developed nations by clever use of new technologies, or management practices, or both. Thinking differently can make this happen, as we have already seen with the way mobile telephones made the need for fixed lines obsolete. It means building healthcare systems around patients rather than unaffordable hospitals; it means working together so that, not only is the Internet available, it is affordable, with the content people want and the training to help them use it. The red thread running through all this thinking is the need for stakeholders — government, business and civil society — to work together to make positive change happen.
What do you see as obstacles on the continent to achieving the Fourth Industrial Revolution?
We’ve discussed a number of these already: Education and empowerment of entrepreneurs is absolutely vital. Strong fair governance is also key: You can have all the investment in technology and R&D in the world but if you do not have the institutions' to enable it to filter through into the wider economy you may as well not bother.
Two more obstacles: Access to the Internet and gender equality. We know well that the Internet has unlocked vast economic potential in other regions of the world and we know how enthusiastically Africans have taken to mobile technology. It’s now time for the whole of the continent to be given access to this precious global commons.
Broad-based economic growth can only happen if both halves of the population are allowed the same opportunity to reach their full potential. The Forum measures the progress of countries worldwide in attempting to close the gender gap and in many cases, the prospects for African women vis-a-vis men are better than in other regions.
But all too often women find themselves locked in low-paying work without sufficient prospects for climbing a career ladder or boosting their business and this needs to stop.
This year’s WEF Africa takes place at a time when an apparent end to the commodity super-cycle has sent shockwaves throughout the global economy. Questions have been asked about the continent’s economic future, with widespread fears that the remarkable gains of the past two decades will be reversed. What is your view? How do you view the changing growth landscape across the continent?
I’m certainly still an Afro-optimist. There is no doubt commodity-exporting countries have been hit hard by the downturn in energy prices and the end of the commodity megacycle, but the flip side of this is that many countries are finally putting in place the kind of measures to build diversified economies and inclusive growth that arguably should have been implemented years ago. With the changes to the world economy that we know the Fourth Industrial Revolution will bring, this brings with it the possibility of building modern, world class economies. There is no doubt that strong leadership and farsighted policies and investments will be needed to navigate through these difficult times. It’s time for Africa’s leaders to step up.
Corruption constitutes the biggest risk that global companies face while doing business in Africa. What needs to be done to address both the demand and supply sides of corruption?
You have to start at the top: Corruption is systemic and a zero tolerance approach must apply to everyone. Also, it is incumbent on business to act responsibly to change the culture of corruption that is prevalent in our region. Not only is corruption unfair but it is also bad for growth, discouraging investment, creating inequalities and damaging competitiveness.
Rooting it out is possibly Africa’s greatest challenge but I think the climate really is changing and we are about to see a broad attitidunal shift in the way we are no longer prepared to tolerate it any more. Technology, too, will help, introducing digital paper trails and greater transparency that brings more and more transactions into the open.
