Africa's Time to Rise as Tech Innovator, Experts Say
Africa’s Digital Transformation: From Consumer to Innovator
As Africa continues to embrace digital transformation, experts are urging the continent to shift from being a passive consumer of technology to becoming an active creator and innovator. This call for change is gaining momentum as homegrown blockchain and artificial intelligence (AI) solutions are seen as key drivers of inclusive and sustainable development. The inaugural Africa Blockchain Festival (ABF), held from November 7-10 at Kigali Convention Centre, highlighted this vision, bringing together over 1,000 participants including regulators, investors, fintech leaders, policymakers, and academics. The event aimed to explore how blockchain and AI can shape Africa’s economic future.
Unlike traditional conferences, the festival blended culture, creativity, and collaboration, symbolizing the unity and innovation it seeks to inspire across the continent. Olubunmi Febanwo, the festival’s lead convener, described the event as “a dream coming true,” emphasizing the need to position Africa as a global innovator rather than just a tech adopter. He noted that the festival was created to address the critical need for a unified platform where innovators can collaborate, build, and scale their ideas.
The ABF was built on three core pillars: policy, innovation, and capital. Febanwo also announced plans for ABF Labs, an initiative designed to transform discussions into actionable projects. The labs will connect innovators with government institutions to research and address pressing challenges in data systems, infrastructure, agriculture, and citizen services. Additionally, ABF Labs will feature a venture studio to support innovators in integrating their ideas into the corporate world.
Rwanda’s Commitment to Digital Transformation
Rwanda has been at the forefront of digital transformation in Africa, with Oreste Rurangwa, Permanent Secretary of Rwanda’s Ministry of ICT and Innovation, emphasizing the importance of technologies like blockchain and AI in achieving Africa’s vision. He highlighted the government’s commitment to Vision 2050, which aims to position Rwanda as a regional innovation hub. Policies such as the upcoming Virtual Assets Law under the Capital Market Authority are expected to attract responsible investment in emerging technologies.
Rurangwa also mentioned the use of blockchain in areas beyond finance, such as governance, where it has been tested for land registration and public procurement. He added that the Central Bank Digital Currency (CBDC) pilot is set to begin in 2024, with preliminary trials starting with financial sector staff and cross-border transactions. This initiative aims to promote innovation and financial inclusion while assessing efficiency and costs.
From Regulation to Innovation
Norbert Haguma, Chairman of the Rwanda Blockchain Association (RBA), reflected on the association’s growth since its founding in 2017 and its role in shaping Rwanda’s blockchain ecosystem. He emphasized the association's resilience and its impact on community growth and policy changes. Haguma described the current status as a post-regulatory era, where innovation meets clarity, leading to the flourishing of investments, jobs, and real-world applications.
He noted that Rwanda’s example is inspiring other African countries, with regional collaborations extending to Nigeria and South Africa. These partnerships are helping shape policy discussions and the broader implementation of the ABF. Haguma also stressed that Africa is ready to lead in the blockchain era, moving away from being a testing ground for other people’s technologies.
What to Expect as ABF Advances
The festival offers a range of activities, including insightful discussions with global speakers, cultural interactions, workshops, training sessions, live exhibitions, startup pitch competitions, and business-to-business matching. These events aim to foster collaboration and provide opportunities for innovators to showcase their ideas and connect with potential partners.
As the ABF continues to grow, it is expected to play a significant role in driving Africa’s digital future. By aligning policies and connecting digital systems, innovations born in Kigali can expand across the continent. The festival represents a collective effort by everyone involved to build a future where Africa leads in technological innovation.
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