Africa is Leading in Tech Innovation, Says Obi
A leading African innovator and tech entrepreneur, Valentine Obi, has said he envisions Africa to be the leading continent of disruptive technologies.
Obi, Group CEO, eTranzact Global, stated this while making his keynote address at the Covenant-International Conference on African Development Issues (C-ICADI 2018) at Covenant University, Ota, Ogun State, recently.
In his address titled: “Technological Advances and Digital Disruption: 21st Century Integration Possibilities for Africa,” he highlighted the quick sprout of tech hubs across Africa and the quality of innovative products being churned out as a result.
According to him, “Africa is presently plagued with many challenges, and technology presents the smartest way out of Africa’s challenges. From Financial Inclusion to Poverty Alleviation, Africans are charting the course with new and innovative solutions, and the over 300 Million US Dollars invested in Tech start-ups in the past two years, proves this.” He pointed out as an example, the advent of Mobile Money, which was an African innovation, before the rest of the world caught on.
Obi has been on the forefront of pioneering tech innovation himself, when he founded eTranzact International PLC, Africa’s foremost provider of mobile banking and payment services in 2003.
He said: “Today, more than ever before, disruptive innovation in technology is transforming Africa’s economic potential. But he warned: “There is a massive wave of Digital Disruption sweeping over the Continent, and if not properly harnessed, might be a major set-back for some indigenous companies and corporations.”
He remarked that disruption was not only on the tech front, but that it was even happening in small businesses like the hairdressers, photographers, etc., explaining that hairdressing business was being disrupted by the innovative trend of all kinds of wigs; and photographers are fast becoming extinct with ‘selfies.’ He defined disruption as using innovative ideas and ways to solve common problems.
He also, advocated for a complete rethink of leadership styles and business strategies in Africa. According to him, African leaders should use innovative ideas to solve problems which should lead to cost-saving measures, revenue growth, more convenience and time savings.
Valentine Obi is the Group CEO of eTranzact Global, a pioneer in the Financial Technology sector and a champion for African Innovation in Technology. He has established eTranzact businesses in Ghana, Nigeria, South Africa, United Kingdom and he is currently working with his global partners on a fast track, to establish presence in more African countries.