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Antony Blinken, United States Secretary of State, on Tuesday in a meeting with African innovators as part of the US-Africa Leaders Summit, remarked that Africa needs not just aid but innovation. He went on to highlight three things the current administration is doing to “broaden and deepen those partnerships to foster African innovation.”
According to a statement from the US Department of State made available to Nigerian Tribune, the Secretary of State noted that Africa’s young population is powering a start-up revolution that has continued to witness increasing funding over the years.
More than 60 percent of Africa’s population is currently under the age of 25, he noted.
“These rising generations are powering dynamic economic growth in their countries and far beyond. 2016 – just a few years ago – African startups raised $350 million dollars in investment; last year, they raised $5 billion in investment – and that’s a curve that’s going to keep going up and up and up.”
He added that “Idris (Elba) said it best: Africa doesn’t need aid, it needs innovation.”
Blinken then listed “three ways our administration is working to broaden and deepen those partnerships to foster African innovation.
“First, we’re investing in the infrastructure that provides the foundation for African entrepreneurship. That means creating more pathways for the free flow of ideas, information, of investment, which in the 21st century requires one thing: digital connectivity.
“Let me give you one example. Africa has around twice as many internet users as the United States, yet the continent has only a fraction of our data center space. What does that mean? Slower, less reliable connectivity. That’s why our U.S. Development Finance Corporation is investing $300 million in building data centers across the continent – because we need networks that can keep up with the lightning pace of new ideas.
“Second, we’re investing in rising leaders. Since President Obama created the Young African Leaders Initiative, nearly 5,800 trailblazers from every country in Sub-Saharan Africa have come to the United States for academic and leadership training – developing skills, and relationships that are going to last them a lifetime, to the benefit of their communities but also ours.
“Many of the Mandela Washington Fellows are entrepreneurs, including alum Abel Hailegiorgis from Ethiopia, who’s here tonight. Abel’s company is building bicycles and wheelchairs from bamboo, which is stronger than steel – there you are right there – sustaining our planet, supporting local farmers and local manufacturers.
“That’s not all. In September, the U.S. African Development Foundation teamed up with the Tony Elumelu Foundation to create a new program to provide financing, technical assistance, and mentorship to emerging innovators in Africa. We recently launched another initiative to connect up-and-coming climate entrepreneurs with American companies.
“Third, we are fostering greater engagement by American companies. You’re going to hear more about that throughout this week. The U.S. private sector already invests more than $4 in Africa for every dollar that our government allocates to the region in foreign assistance – and it wants to do more.
That’s the objective of our Office of Global Partnerships, which will take a U.S. private sector delegation to Ghana in February. It’s the goal of the Prosper Africa initiative – which is marshaling agencies from across our government to help more U.S. companies and inventors – investors, excuse me, do business in Africa, and do it in a way that promotes inclusive growth – growth that’s sustainable for our planet.”
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