Friday, December 4, 2020 / 9:50 AM /Nifemi Taiyese / Header Image Credit: YouTube; Fitc Nigeria

TheFinancial Institutions Training Center (FITC) recently organized its YouthConnect Technology Summit themed "Accelerating Growth and Development inAfrica: The Role of Technology and Innovation", a two-segment event of a knowledgegathering session and an awards presentation ceremony. FITC under the platformof the Youth Connect Initiative has brought young Africans together.

ManagingDirector/Chief Executive Officer, FITC, Mrs. Chizor Malize giving the keynotespeech, highlighted the fact that FITC through the Youth Connect platform hasthe mandate to build a bridge for young people that will provide them with theknowledge, insights and understanding as well as serve as an avenue for them toengage, collaborate and express their highly innovative ideas. 

Sherevealed that the focus of the summit was on how technology can be leveraged todrive economic growth across the globe, to bring innovative development anderadicate hardship at measurable levels.

"Throughtechnology and interconnectivity, government can ensure that infrastructure isconnected to the individual needs and database which they can use for furtherplanning" Malize said.

Sharingher thoughts on some of the opportunities and new areas that Africa can tap into,she said technology has helped to create and accelerate innovationopportunities in the following areas.

1. Jobcreation through emergence of new industries and job roles.
2. E-commercefor manufacturers and consumers.
3. Expansionof digital healthcare & teletherapy.
4. Technologyand sustainable development, social and economic impact for communities.

Malizebelieved it was time for Nigeria to position itself for huge capital inflowsfor technology, as the nation emerged an attractive spot for global venture capitalists.

Sheencouraged Young Africans to take up the challenge of becoming co-creators inexpanding opportunities in the region.

TheMD/CEO of FITC Nigeria also charged young Africans all over the continent totake collective responsibility consistently and continuously for ventures andactivities that will grow the region by being disruptors.

Tostimulate growth, Malize was of the view that the nation must invest in scienceand technology as strong investments in tech is a catalyst for national growthand development. She called on government to step up its role in fosteringforeign partnerships that can put Nigeria on the global technology map.

BarakatAdenike Sheriff the Chief of Staff, Future Africa in her presentation titled 'Technology Innovation in Africa, Challenges and Opportunities for Growth' provided insight into the ways in which technology is transforming economiesand societies.

Accordingto her technology is an enabler; makes processes faster, provides seamlessoperations and a better way of doing things.

Shementioned that her organization Future Africa refers to the problems of Africaas 'wicked problems'. "The type of problems that we face in Africarequire deeper and more introspective solutions" She added. 

"Theproblems are Africa's biggest opportunities and can become billion-dollarbusinesses at scale, just like paystack that are solving Africa's problem atscale" Barakat Adenike added.

Shesaid "Africa can only be saved by active solutions being created to solvechallenges in the continent nd not by aid or development finance. To be asolution provider, it is crucial to first identify the problem then designsolutions which will attract value".

Speakingon innovation, Barakat Adenike Sheriff called for the deepening of the market,that supports and values innovation.

TheFuture Africa Senior Official mentioned that capital, coaching, and communityis needed to scale and deliver technological solutions to Africa.

TheCo-Founder/CTO Kuda Microfinance Bank, Musty Mustapha, looking at amplifyingAfrica's digital economy, emphasized the ease of access to financial servicesand products, that can unlock potentials and enhance prosperity for the generalpopulace.

"Foreigninvestment is helping accelerate Africa's tech transformation. In Africa, wehave small technologies making the most impact in people's lives" Mustaphastated.

Heobserved that only about 20% of the people living in sub-Saharan Africa haveinternet subscriptions, while African women are now learning softwaredevelopment with free resources online as the continent produces more coders. 

Fromhis perspective technology has helped to speed up the adoption of mainstreamprivate e-learning across Africa.

Headvised the regulators to oversee the activities of cryptocurrency and create aregulatory framework to govern them in Africa and especially Nigeria.

Onhis part Greg Malize Technology Advisory Consultant said the combined GDP ofAfrica is less than one-third of the US GDP.

Speakingon the barriers to growth in Africa, Malize mentioned the following as keyfactors that could affect the growth of the continent

• The ease of doing business
• Infrastructural Deficiencies and
• Low Technology Adoption

However, despite the barriers faced technology according to him isplaying a role in transforming African Businesses. The rise of innovation hubsis another trend playing out across the African continent.

"Technologyis playing a key role in enabling the transfer of arts, media and entertainmentacross African boundaries which has led to increased benefits such as increasedaccess, connectivity to consumers and increased revenue" Malize said.

Addressingways to achieve scale in technology that will solve the needs of the Africanpopulace, he called for more partnership between universities and trainingprograms with focus on Afrocentric digital solutions.

Mr.Tayo K. Awosanya Managing Director Zercom Systems, giving an overview on thestrategies for African youths to unleash creativity. He defined eLearning asutilizing electronic technologies to access educational curriculum outside of atraditional classroom.

Heinformed stakeholders that the size of the global corporate digital learningmarket is predicted to reach a revenue of $165billion.

Hehighlighted being a voice over artiste, content developer, LMS Administrator,Video Spokesperson, Language Translator, Subject Matter Expert and Curriculumdeveloper as digital jobs young individuals should explore.

Theevent featured an award presentation ceremony to youths that participated inthe Africa Youth Connect FITC 2020 essay competition. The 2^nd runnerup is Ololade Oshodi, a student at the University of Lagos, 1^st runnerup Abdul Pelumi Ganiyu, Student University of Ilorin, and Overall winner OkeDonatus Chibuzor.

Itfeatured participants from Ethiopia, Rwanda, Kenya Nairobi, South Africa, EastAfrica, and West Africa.

FITCCEO Chizor Malize assured stakeholders of a roll out of more projects andprograms for the rest of Africa that will develop individuals, professionals,businesses, government and create capacity within Africa.

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