African leaders have called for enhanced strategic partnerships with the private sector to bolster the continent's position in the global digital economy. Delegates from Nigeria, Ghana, Sierra Leone, and Mauritania at the second annual Moonshot by TechCabal conference held in Nigeria, made this appeal during a high-level pan-African Ministerial panel session on September 9th, the first day of the technology conference organized by TechCabal, a prominent ecosystem convener in Africa.
The panel featured key figures, including Kashifu Inuwa Abdullah, Director General of Nigeria's National Information Technology Development Agency (NITDA); Dr. Augustina Odame, CEO of the Ghana Chamber of Technology; David Manley, Chief Advisor Technology in Sierra Leone; and Marieme Kane, Director of Innovation at the Mauritanian Ministry of Digital Transformation. Their discussion focused on the theme, "Building Digital Economies for the World: How African Countries Are Shaping Their Tech Economies to Compete Both Continentally and Globally."
During the 40-minute session, the panel explored strategies for Africa to transcend mere policy-making and solidify its standing in the global digital economy. In addition to necessary policies, policymakers highlighted strategic partnerships and enhanced infrastructure as vital components for amplifying the continent’s global impact. By addressing current infrastructural deficits, governments can directly support businesses across various economic sectors, fostering growth in the digital economy.
Dr. Augustina Odame emphasized the importance of collaboration with the private sector and development partners to leverage resources and establish investment avenues. “We’ve witnessed numerous private-public sector partnerships falter, but they are essential. They represent a key avenue for financing the substantial capital infrastructure required for development,” she remarked. The panel concluded that governments play a pivotal role in equipping innovators with the skills needed to effectively contribute to Africa’s digital economy, which is projected to reach $180 billion by 2025.
The two-day event, taking place at the Eko Convention Centre in Lagos, brought together visionary tech and government leaders. Highlights included a fireside chat with Dr. Bosun Tijani, Nigeria’s Federal Minister of Communications, Innovation, and Digital Economy, alongside Tomiwa Aladekomo, CEO of Big Cabal Media. This session, part of a new content track on "Government, Policy & Regulation," provided a platform for discussing critical industry challenges and allowed participants to engage directly with the Minister regarding his initiatives and achievements during his first year in office.
The Minister spoke about the ministry’s strategic plans which include creating a pipeline of technical talent through the Three Million Technical Talents (3MTT) programme. “If technology is to truly help drive growth in Nigeria, the government must invest in talent very early,” he said.
In his opening remarks, Tomiwa Aladekomo, CEO, Big Cabal Media said this year’s conference reflects the direction Africa’s tech ecosystem is headed which is building for the world. He highlighted the challenges of building in Africa and the need for technology founders and operators to become even more ambitious:
“The world is moving, and technology is evolving rapidly. If we’re not going to be left behind, and if our companies are to find the growth rates and total addressable markets that make for viable and VC-pleasing exits, we must go further afield. While the continent has been the foundation of our innovation and entrepreneurial spirit, the challenges we face here have made it clear that we must now build for the world if we are to truly thrive,” Tomiwa said.
Also speaking at a panel discussion on scaling cross-border payment solutions in Africa, experts spoke on the challenges including complex regulatory frameworks and settlement delays. Regulation is considered an even greater challenge for payment solution startups. The consensus is the need for developing a better relationship with regulators.
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“Fintechs have to keep up with changing regulations in every market they operate in. The regulatory landscape is constantly evolving, so maintaining a close relationship with regulators is crucial,” said Moyo Sodipo, co-founder and COO of Busha.
Sponsored by Sabi, Africa’s leading provider of digital commerce infrastructure, Moonshot by TechCabal 2024 welcomed over 3,000 delegates from across Africa and beyond. Notable names in attendance included Kola Aina, founding partner Ventures Platform; Olumide Soyombo, Founder of Voltron Capital; and Babajide Duroshola, General Manager, M-KOPA. The event concluded with a call for continued collaboration between governments, investors, and innovators to ensure that Africa’s digital transformation is both sustainable and inclusive.
Every year, Moonshot by TechCabal brings together tech investors, telecom companies, big tech firms, startups, and key stakeholders in Africa’s tech ecosystem. This year’s event is also sponsored by 54 Collective (formerly Founder Factory Africa), Raenest, Sparkle, Cchub, Budpay, Cardtonic, Zedcrest, and Vendy, With Moonshot by TechCabal 2025 already in the works, anticipation is high for what the next year will bring for Africa’s technology landscape.
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