An entrepreneur’s perspective on a single digital market for Africa

As Africa moves towards the AU Agenda 2063, the conversation on leveraging technology to drive the continent's development agenda becomes crucial. Entrepreneurs like Francisco Kgoboko, Founder of FMK Global Holdings, are at the forefront of this discussion. Kgoboko emphasizes the importance of government policies and legislature in supporting entrepreneurship in Africa. He acknowledges that while entrepreneurs are ready for Africa's single digital market, they need government support to thrive. The balance lies in creating legislation that facilitates progress without stifling innovation. Investors seek stability in government policies to make informed decisions on funding entrepreneurs. Kgoboko highlights the role of technology in creating opportunities for entrepreneurs to access finance. He mentions initiatives like building a fiber optic network from Cape to Cairo, which will enhance internet access and ICT utilization across the continent. This digital infrastructure will democratize opportunities for Africans, bridging the digital divide between regions. One of the challenges faced by African entrepreneurs is the dependence on imported solutions. Despite small and medium enterprises (SMEs) driving job creation in the formal sector, they are often not given the platform to innovate and implement their ideas. Kgoboko urges Africans to embrace a self-sufficient mindset and invest in homegrown solutions. He emphasizes the need for a shift from relying on external technologies to nurturing local talent and capabilities. By empowering SMEs and fostering innovation domestically, Africa can take a seat at the 'high table' and lead its own technological revolution. The vision of a single digital market and increased intra-African trade poses a significant opportunity for the continent's growth. Kgoboko acknowledges the ambitious targets set for boosting trade by 52% in 2024 but believes that it is attainable through a holistic approach. Education emerges as a critical pillar in this transformation. Kgoboko stresses the need to revamp education systems to align with the demands of the 21st-century workforce. By emphasizing relevant skills and updating curricula at the basic education level, Africa can nurture a workforce equipped to drive economic progress. Kgoboko's optimism stems from the belief that once the education paradigm is addressed, everything else will fall into place, setting the stage for Africa's digital transformation and economic empowerment.