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How technology can drive growth for the next billion users – Dapo Babarinde

Philip Amiola
October 25, 2024
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A Product Manager and Digital Entrepreneur, Dapo Babarinde, has posited in his recent report that intentionally creating sustainable solutions to cater to the next billion users is the best way to drive long-term growth.

A new wave of technological advancement sets Africa on a path to becoming a key player in the global digital economy. With a youthful population and a rapidly growing tech ecosystem, the continent presents abundant opportunities for innovation. Making this happen represents a technical hurdle and a transformative opportunity for industries, communities, and the African economy.

Mr Dapo who has significant experience in digital product development and startup advisory has a proven track record of leading teams to deliver digital products and has founded startups including Advocatify, a case management software for law firms, and Process Malve, a software that helps businesses streamline processes and automate workflows.

The startup founder reiterated the fact that Africa’s digital economy is multiplying, with millions of new users coming online yearly and to successfully build for the continent’s next billion users, technology companies must tailor their solutions to meet local needs. With the continent’s population projected to double to 2.5 billion by 2050, he stresses that the tech landscape will be largely shaped by Africa’s youth, who are already beginning to dominate the market. “Understanding their challenges and aspirations is crucial to developing technology that will succeed.”

Dapo highlights several African innovations that have demonstrated how locally developed solutions can address critical needs. Examples like M-Pesa and Flutterwave, which offer financial inclusion and seamless payments, underscore how African companies are filling market gaps often overlooked by global players. “These innovations succeed because they offer practical solutions to local problems,” says Dapo, citing M-Pesa’s success in banking the unbanked as a prime example of how technology can address real-world challenges.

For the product expert, building Africa’s future means focusing on functionality over aesthetics. Product developers must prioritise real-world solutions over following fleeting trends. He also emphasises that scaling these solutions beyond Africa requires a global mindset. He cited Flutterwave’s ability to expand internationally while staying grounded in African realities proving that African companies can grow globally without losing local relevance.

For Africa’s technology ecosystem to thrive, Dapo Babarinde insists that solutions must be forward-thinking and adaptable to the continent’s evolving needs. He sees key sectors such as health tech, edtech, and fintech as having tremendous potential for tech-driven transformation. Health tech, for example, can increase access to healthcare services, while edtech can help bridge the digital literacy gap and empower the underrepresented youth. Meanwhile, fintech continues to drive financial inclusion for underserved communities, a trend Mr Oladapo champions.

However, he acknowledged the numerous obstacles African start-ups face. Research shows that 60% of African start-ups fail within three years, and 70-80% collapse within five years. Challenges such as policy inconsistencies, multiple taxation, and regulatory bottlenecks hinder their progress. “Scaling remains a difficult journey for African start-ups due to these obstacles,” Mr Dapo notes. Many start-ups struggle with securing capital, and infrastructure limitations often block their potential.

Dapo calls for streamlined processes and stronger support structures to ensure more start-ups can succeed. Governments have a critical role to play in enabling Africa’s tech transformation, and the startup founder sees public-private partnerships as essential to driving this growth. He advocates for closer collaboration between governments and tech innovators to create an enabling environment. “Tax incentives, increased internet access, and streamlined regulatory frameworks can foster innovation,” he added.

He also highlights the importance of establishing start-up support funds focused on key sectors such as health, education, and fintech. He believes such initiatives would provide much-needed financial backing to start-ups developing solutions to Africa’s challenges. “Governments should prioritise backing start-ups with the potential to solve Africa’s biggest issues,” Mr Dapo asserts, emphasising that homegrown innovation is key to long-term success.

“Africa’s youthful population is its most valuable asset, he argues that investing in education and digital skills is essential to unlocking the continent’s full potential. By providing young Africans with the tools to thrive in the global digital economy, Mr Dapo believes Africa could become a global exporter of tech talent.

One of the technology expert’s major contributions to this effort is Malve Academy, a digital and tech skills acquisition institute he founded. The academy provides free digital skills training to underrepresented youths, with the goal of training 10,000 young people over the next five years. So far, Malve Academy has trained hundreds of students, equipping them with the skills needed to build successful careers in technology. Mr Dapo also contributes to social impact causes by mentoring young people in tech through various mentoring platforms, including Bincom Global.

Mr Dapo emphasises the broader social impact of digital skills training and mentorship, noting that it not only reduces unemployment but also empowers young people to solve problems within their communities. “This isn’t just about creating more jobs,” he says, “it’s about creating better jobs.”

Dapo Babarinde sees a bright future for Africa, but he stresses that achieving its potential will require collaboration across sectors. Innovators, governments, and private-sector actors must come together to develop technology solutions that address real-world challenges. At the same time, governments should provide the necessary support to encourage innovation and investments in youth skills development must be prioritised.

In conclusion, Africa stands on the cusp of a transformative era, with technology playing a pivotal role in shaping its future. By addressing local needs through innovative solutions, empowering the next generation with digital skills, and fostering collaboration across sectors, the continent has the potential to contribute to and thrive in the global digital economy. Its success in driving growth for its next billion users will depend on bold actions taken today to unlock the continent’s vast potential.


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