“The Currency Of The Future Is Going To Be Coding,” Says Akinwumi Adesina

“The Currency Of The Future Is Going To Be Coding,” Says Akinwumi Adesina

During a parallel event at the just concluded Ibrahim Governance Weekend by the Mo Ibrahim Foundation, African Development Bank President Akinwumi Adesina, pleaded for Africans to embrace technology, and governments to urgently move away from “investing in the jobs of the past, but rather in the jobs of the future. A future that is just around the corner.”

Adesina was addressing a debate entitled: The New Tech Era: Job-killer or Job-creator?organised by The Africa Report and Jeune Afrique as part of the2019 Mo Ibrahim Governance Weekend. 

“The people who control data, will control Africa. Coding must be compulsory, at all levels. The currency of the future is going to be coding,” Adesina said. “Information technology must not be the exclusive privilege of the elite, we must democratize technology,” he added.

Panelists included Pascal Lamy, board Director of the Mo Ibrahim Foundation and past Director-General of the World Trade Organization; Eric Kacou, an Ivorian businessman and co-founder of ESP Solutions; Chioma Agwuegbo, a Nigerian tech specialist and Zyad Liman, publishing director of Afrique Magazine.

In his welcome remarks, Mo Ibrahim urged the panelists to think about ways to address the “tsunami of young people entering the job market.”

In response to that call to action, Kacou insisted on the need for “a change in mindset to move from BBC or Born Before Computers to rethinking education to teach people how to learn and help them solve problems.”

Panellists acknowledged the critical role the tech industry can play in Africa’s economic transformation through the continent’s digitization. However, they agreed on the urgent need to upgrade the skills of the past, to do it fast, and move away from the social fear of technology.

Research has shown that if governments harness the full economic potential of just the internet, Africa could add $300 billion to its GDP by 2025. Also, 70% of all jobs will have an ICT component by 2020.

Opportunities to transform Africa through technology are endless.  In agriculture, drones can monitor crops, Artificial Intelligence can speed varietal selection, and the Internet of the Things can control smart irrigation systems. Block chains can also aid food traceability.

“We must grab the opportunities…We must democratize technology. Africa should prepare itself. Digital technologies, including Artificial intelligence, big data analytics, blockchains, 3D printing, are already upon us,” Adesina concluded.

The three-hour interactive session ended with members of the audience calling for accelerated policy reforms and creating an enabling environment for innovative technology to thrive. The issue of data protection, identity protection and fake news and how to turn population into assets, topped discussions.