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Saturday, October 5, 2024

Ghana’s President Champions Policy-Driven Innovation at Africa Soft Power’s UNGA Symposium

At this year’s United Nations General Assembly (UNGA), Ghana’s President H.E. Nana Akufo-Addo delivered a powerful message at the Forward Africa Leaders Symposium, hosted by Africa Soft Power (ASP) in partnership with Convene Africa.

The symposium brought together key leaders and innovators to discuss how policy can serve as the foundation for Africa’s digital transformation. President Akufo-Addo emphasized that robust policy frameworks are essential to unlocking Africa’s innovation potential, fuelling economic growth, and driving prosperity across the continent.

The event focused on two critical themes: the role of remittances in promoting shared prosperity and the pressing need for a unified digital economy across Africa.

Building the foundations of innovation through policy

During his keynote, President Akufo-Addo underscored the importance of creating a solid policy foundation to enable digital growth. “To truly unlock the potential of digital technology, we must begin with a solid foundation—policy. Good policies create an environment where innovation thrives, businesses grow, and people gain access to services that improve their lives,” he stated. His message resonated with the event’s focus on policy as a cornerstone for Africa’s technological and economic development.

Conversations That Matter: Africa’s inclusion in global dialogue

This symposium is part of ASP’s series of high-level discussions held annually during the UNGA, ensuring Africa remains a central voice in global conversations. Past events have tackled themes such as women’s leadership, the role of Africa’s youth, and innovative responses to global challenges.

One of this year’s standout panels, “Windows of Opportunity: Innovating for Shared Prosperity through Remittances and Global Connections”, delved into how remittances continue to play a vital role in fostering economic resilience across Africa. Panellists agreed that remittances remain a lifeline for millions of families and a critical driver of sustainable development across the continent.

Oluwabankole Falade, Chief Regulatory and Public Policy Officer at Flutterwave, stressed the necessity of sound policies to enhance remittance flows. “Without the right regulatory frameworks, we can’t fully tap into the pool of funds available. We need policies that encourage the flow of money into the continent,” he said, echoing President Akufo-Addo’s call for policy-driven growth.

Collaboration: A key driver of economic growth

The panellists further explored how collaboration between governments, financial institutions, and development organizations could spur economic growth. Faheen Allibhoy, MD & Global Head for Multilateral & Development Institutions at JP Morgan, highlighted the role of multilateral organizations in harmonizing regulations and building capacity to promote Africa’s economic resilience.

Towards a unified digital economy

Another focal discussion was “Cross-sector Collaborations: Investing in Critical Digital Public Infrastructure and Strategic Partnerships to Advance a Unified Digital Economy.” This panel explored how public-private partnerships can accelerate Africa’s journey towards a digitally connected future. Experts agreed that robust infrastructure, built through collaboration between governments and the private sector, is essential for fostering innovation, interoperability, and inclusivity across the continent.

Ebenezer Twum Asante, Senior Vice President of Markets at MTN Group, highlighted the potential of the African Continental Free Trade Area (AfCFTA) to enable mobile money interoperability and facilitate the integration of payment systems across Africa.

Osaruyi Orobosa-Ogbeide, Senior Vice President & Head of Project Development at the Africa Finance Corporation, further emphasized the need for sustained investment. “We must ensure that investments continue. This can only happen in environments with the right regulations, investment safety, and political stability,” he said, underscoring the role of policy in creating an environment conducive to economic growth.

Youth-Led Innovation: A powerful asset for Africa

In his remarks, Wamkele Mene, Secretary General of AfCFTA, emphasized the need to include Africa’s youth in the continent’s digital transformation. “We must take concrete steps to enable young people, who are at the forefront of digital innovation, to participate in the implementation of AfCFTA,” he said, reflecting President Akufo-Addo’s vision of empowering the continent through strategic policies.

Amplifying African voices on the global stage

In her closing remarks, Nkiru Balonwu, Founder of Africa Soft Power, reiterated the organization’s mission of amplifying African voices in global conversations. “Our goal is to ensure that Africa’s voices are not only heard but play a central role in shaping the global agenda. The challenges we face are global, and Africa’s insights are essential for crafting lasting solutions. This is not just about inclusion; it’s about leadership,” she concluded.

As the symposium wrapped up, the message was clear: Africa’s future lies in uniting around shared goals, fostering youth-led innovation, and establishing the right policies and infrastructure to support its digital and economic transformation.


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