As we celebrate this year of Nigeria’s independence from colonial rule, it is vital that we reflect on the progress we have made as a nation and a continent, even as we strive to chart a greater path forward. Every year, we celebrate the concept of independence, but pertinent questions remain. Can we all be truly independent as nations on the African continent? Although independence at the individual and national level seems far-reaching, especially when resources are not equally distributed , it is essential to define true independence. A truly independent country is not subject to outside control or influence. It is recognized as politically, economically, culturally, legally and internationally sovereign.
In today’s rapidly evolving digital world, discussions of sovereignty are beginning to extend beyond borders, politics, and economics to a new frontier: technology. The continent’s pursuit of economic resilience and sustainable growth depends not only on its governance and resources, but also on its ability to build, own and grow its technological infrastructure. The initiative aims not only to reduce dependence on foreign technology, but also to foster innovation, create jobs and build a sustainable future.
Examples of domestic technology
For decades, African countries have relied heavily on foreign technology to power key sectors, from banking and telecommunications to agriculture and health care. This dependence has provided rapid access to global innovation, but it has also come at a cost and with some inefficiencies. Each time we import a solution, we relinquish control of critical data and infrastructure, incur high maintenance and upgrade costs, and face limitations in customizing these technologies to address the unique challenges of the African market. often faced. Customization requests are considered impossible and too expensive. , or may be too complex for the provider to complete in a meaningful amount of time. The gap between global technological solutions and the continent’s local needs is widening. A one-size-fits-all approach has shown its limitations, especially when tackling regional complexities such as undeveloped infrastructure, limited connectivity, and varying regulatory environments. For Africa to thrive in the digital economy, there is an urgent need for indigenous technology solutions designed, developed and deployed by Africans, for Africa.
Several African countries are already seeing the benefits of technology import substitution. Technology import substitution can be described as a process by which foreign-developed technological solutions are rapidly replaced by local alternatives, either as part of a government’s deliberate economic transformation efforts or based on the concerted efforts of the private sector. .
Driven primarily by entrepreneurship, Nigerian companies like Qore (formerly Appzone), Flutterwave, and Paystack have revolutionized the financial sector by offering unique solutions that address local needs. These companies are at the forefront of technology import substitution, not only keeping capital at home but also attracting foreign investment and demonstrating the potential of local innovation and talent.
Similarly, M-Pesa in Kenya has transformed the way financial transactions are conducted within and outside Kenya. By leveraging local talent and market understanding, M-Pesa became a global success story, proving the power of local technology solutions.
Africa’s potential has never been in doubt, but our ability to first believe in ourselves and tap into its vast potential has been a challenge. Now that technology is pervasive across industries, the need to grow your own technology has never been more pressing. From economic growth to data sovereignty, sustainability, cost efficiency and adaptability, the benefits of technology independence far outweigh the drawbacks. The journey to a technologically independent continent is daunting, but achievable.
The goal is to make ‘Made in Africa’ technology the new cool thing. Key stakeholders should encourage and encourage the adoption of indigenous technologies in various industries. Qore, Africa’s first cloud-native and unique core banking platform, is proudly leading this technology revolution. By developing banking solutions specifically designed for African financial institutions, we enable banks and fintechs to offer more accessible, affordable and scalable services to their customers. Building a skilled workforce is key. Government and private sector stakeholders must invest in STEM education and job training to equip the next generation with the skills they need. Governments need to create an enabling environment through supportive policies, tax incentives and infrastructure development. This includes things like improving internet connectivity and providing access to funding for startups. Additionally, collaboration between government, the private sector, and academia should be encouraged to drive innovation, and public-private partnerships should be fostered to facilitate the development and scaling of local technology solutions.
As we celebrate our 64th anniversary of national independence, let us also strive to achieve technological independence as a nation and as a continent. By embracing technology import substitution, we can build a more resilient, innovative and sustainable future for Africa. Together, we can ensure that Africa not only survives but thrives in the digital age.
Happy Independence Day, Nigeria!
Emeka Emetalom,
CEO of Kuore Technologies
