Thomson Reuters Africa host ‘digital disruption’ summit

Thomson Reuters Africa hosted its annual summit in Cape Town with the theme of 'digital disruption' as the driving force for Africa's empowerment. The summit brought together thought leaders and visionaries from across the continent to discuss and provide solutions to Africa's challenges. Fifi Peters of CNBC Africa spoke with Sneha Shah, Managing Director for Africa at Thomson Reuters, about the significance of disruption for this year's conference. Shah explained that disruption is often perceived as a scary concept, as it implies changes that may disrupt existing business models and job structures. However, she highlighted that disruption is actually the key to overcoming the barriers that hinder Africa's success, such as lack of land rights, unemployment, education, and infrastructure issues. Shah emphasized that new disruptive technologies have the potential to bring about transformative changes on a large scale, enabling not just economic gains but also social good on the continent. When discussing the resistance to disruption, particularly using the example of Uber, Shah acknowledged that companies introducing disruptive technologies have a responsibility to communicate the positive impact of their innovations to the market. She pointed out that while there may be initial resistance from traditional sectors being disrupted, it is essential for all stakeholders to embrace change in a rapidly evolving world. The summit featured a diverse group of attendees, including established business leaders, startups, and disruptors who shared their innovative approaches to addressing various challenges. Shah expressed excitement about providing a platform for these entrepreneurs to showcase their initiatives and inspire a broader audience to adopt new technologies for positive change. The overarching goal of the summit was to unite senior leaders from different sectors across the continent to collaborate in empowering Africa's success through embracing digital transformation and innovation. Shah emphasized the importance of collective action and collaboration to leverage the potential of new technologies and drive Africa towards a brighter future. In response to a question about the receptiveness of Africans to technological change compared to other regions, Shah argued that Africa is actually more inclined to embrace new technologies due to the absence of legacy infrastructure that may impede innovation. She cited examples of successful technological interventions in various African countries, such as mobile money in Kenya and the use of drones for medical deliveries in Rwanda, as evidence of Africa's readiness to adopt disruptive technologies. Addressing the role of the public sector in embracing disruption, Shah stressed the significance of engaging with government entities to create an enabling environment for innovation to flourish. While public sector involvement is essential, Shah emphasized that the private sector must take a lead role in driving technological advancements and collaborating with the government on regulatory frameworks. The Thomson Reuters Africa Summit served as a platform to champion digital disruption as a catalyst for Africa's empowerment, encouraging collaboration, innovation, and a mindset shift towards embracing change for a brighter future.