What’s Holding Africa Back From Becoming A Global Innovation Hub?
Innovation is a common buzzword, often thrown around quite liberally. But what it really boils down to, is the practical implementation of ideas that result in new products or services – or noticeable and meaningful improvements to existing goods or services.
It exists everywhere, across all countries and industries and is thought to be the key to economic and social development. It certainly exists in South Africa, home of ground-breaking innovations like the CAT Scan, heart transplants, Dolosse, as well as the friend and foe (depending on your feelings about brushing up against the rhythmic sucking pipe) of swimming pools – the Kreepy Krauly.
And it’s not just South Africa. Africa’s young population and growing urbanization present a unique opportunity for innovation to thrive in several sectors. To that end, the likes of Kenya and Morocco are also ranked among the continent’s most innovative countries – according to WIPO’s Global Innovation Index (GII) 2022, which monitors the state of innovation throughout the world.
In this article, we will review the key spaces where innovation has impacted various industries in South Africa and what is holding us back from being at the forefront of producing world-class solutions.
At The Financial Forefront
Mobile money has revolutionised financial inclusion in Africa, and South Africa is part of this shift. In 2019, South Africa’s largest mobile network operator, Vodacom, launched VodaPay, a digital payments and financial services platform. VodaPay enabled users to make payments, apply for loans, and access insurance products directly via their mobile phones. This innovation was aimed at unbanked and underbanked South Africans, who usually have difficulty accessing traditional financial services.
Let’s not forget that in the past 20 years, Africa’s internet and thus digital penetration has grown to some 570 million internet users.
With this number increasing, more Africans will be able to play in the financial arena, from their preferred medium, saving and investing at the touch of a button.
Revolutionary (Green) Transportation
South Africa is Africa’s largest emitter of greenhouse gases, and the country has taken significant strides towards reducing emissions. One such innovation is the H1 fuel cell vehicle, which is being developed by a South African company, Hydrogen Horizons. The vehicle is powered by hydrogen fuel cells, which produces only water as waste, making it a clean and sustainable transportation option.
Alternative Energy Solutions
South Africa has significant renewable energy resources, which are being exploited to generate electricity. One of the most innovative renewable energy projects is the Solar Turtle, developed by South African company, James van der Walt Design. The Solar Turtle is a solar-powered container that can be easily moved, making it perfect for remote and rural areas. The container is designed to provide off-grid energy to rural communities, providing electricity for lighting, heating, and cooking.
Problems May Swallow The Solutions
That said, even though experts have identified the eye-opening innovation derived from within this continent, there has also been a call to governments and private sectors to address an array of issues that could hinder further innovation in Africa.
Specifically, the lack of support for entrepreneurship, food security, local food production, digital innovation, and energy solutions have been seen as the main hindrances to Africa fulfilling its potential as a global innovation hub.
There’s A Huge Difference
It’s clear that the continent is capable of producing world-class solutions. South Africa’s own examples demonstrate how African innovation can improve the lives of millions of people. With continued investment in research and development, Africa can leverage its young population, natural resources, and growing urbanisation to become a hub for innovation and technological advancement.
From our own perspective, we know just how valuable it is to provide the support needed to inspire innovation. Often it isn’t that there is no innovation waiting to be discovered and used within your own business and community, it comes down to not having the right partners who can make your dreams a reality.
At Huge Connect we have prioritised support as an essential part of our offering. We have ensured that we’re not only able to help businesses with their connectivity and telecommunications strategies, but also have the capacity to provide support and work with you to make this journey a reality. To make these savings and efficiencies your new normal.
Connect with us and let us help you today.
