Africa’s Path To Economic Transformation Is Through Technology Says Elumelu
One of the richest men on the continent believes that African policymakers and political leaders should leverage technology to accelerate economic transformation and development.
Listen to GHOGH with Jamarlin Martin | Episode 45: Ryan Wilson
Jamarlin talks to Ryan Wilson, founder of Atlanta’s Gathering Spot. They discuss Wilson’s plans to scale his profitable subscription and events business, and whether Kamala Harris’ candidacy will result in a civil war in Black America. They also discuss the term “people of color” and why Atlanta is one of the hottest cities for tech.
The tech gathering, which was organized by French President Emmanuel Macron, aims to discuss and motivate the use of tech to make positive social change.
Elumelu said that he was at the summit to represent Africa, and he urged world leaders and policymakers to prioritise technology in Africa to create economic opportunities and growth for the millions of young African entrepreneurs on the continent, according to his foundation’s website.
Economic transformation through tech
The billionaire chairman of Heirs Holdings mentioned that over 60 percent of Africans are under the age of 30, and economic opportunities for those individuals would rely on technology, NaijaNews reported.
Elumelu argued that technology is a great employer of labour as it drives inclusiveness and helps alleviate poverty.
He went on to say that what could be an economic advantage, a large young African population entering the workforce, would translate into an economic disaster if tech was not leveraged to create sufficient work opportunities for the youth, according to TheGuardian.
The Tony Elumelu Foundation is the philanthropist’s self-funded organization dedicated to supporting African entrepreneurs. This year sees the fifth edition of the program.
Five years into the
So far it has supported and funded 7,520 entrepreneurs, investing $25 million of the total $100 million pledge to date, according to the foundation’s website.