Ekeh: Technology Will Resolve Africa’s Infrastructural Challenges

Emma Okonji

Africa’s digital entrepreneur, Leo Stan Ekeh, has assured governments in Africa, Nigeria inclusive that the contemporary infrastructural challenges holding the continent back, would be resolved through the adoption of emerging technologies.

Ekeh, who is the chairman of Zinox Group, gave the assurance during a mentorship programme with African/International students, which held as part of events marking the Africa Summit organised by Nottingham University in the United Kingdom (UK), recently.

According to the Zinox Chairman, Africa is a continent on the rise, noting that the continent’s population indices makes it the most promising for smart investors to bet on.

“Africa is not only a young continent, but it is one with a booming population that is expected to gross over 25 per cent of the entire world’s population by 2050.

“Interestingly, this is a population that is overwhelmingly dominated by youths, thereby making Africa more important than ever to the global economy and arguably the world’s most attractive continent. As an investor, now is the right time to move into Africa,” Ekeh said.

According to him, “Africa has for long been held back by its quality of leaders, many of whom are partially analogue due to their age and originating circumstances. This is not entirely their fault though, as it is caused by a number of factors beyond their direct control. However, things are changing.

“There is a conscious interest in most African countries in the calibre and status of leaders that take office. Also, the current generation of youths have the benefit of better education and global exposure as a result of the internet-mediated world we live in. With the right leadership in place and technology accorded its rightful place as the driver of its future development, Africa may just be the continent for smart investors to bet on.”

He therefore urged potential investors looking to come to Africa to come in with the mindset to cause positive change and empower the youths of the continent.

“Africa needs investors with the right conscience to help change its narrative for good; investors who are interested in growing the economy, in creating employment opportunities and empowering local talents in the various communities and urban centres and not venture capitalists or angel investors who are only keen on milking the continent for profit and short-term gains,” he stated.
Also speaking on his decision to acquire e-Commerce giant Konga, Ekeh revealed that the company was one of the examples of a corporate with a conscience, noting that Konga was bound to hit a market valuation of over $4 billion by 2022, going by the structures the new management would put in place.

He, nevertheless, lamented the high failure rate of start-ups in the continent, an anomaly he attributed to the desire by entrepreneurs to take pleasure before pains.

“Success for an entrepreneur in Africa does not come cheap. This is because the continent is still struggling with a lot of infrastructural deficiencies, many of which technology will help resolve soon. “To succeed in the peculiar business terrain in many African economies, an entrepreneur requires 40 per cent common sense, especially since common sense is not by any chance, common; 20 per cent spirituality which is important in view of the highly religious nature of Africans and 40 per cent knowledge of the particular business one is investing in,” he said.

The Managing Director, Nottingham Africa Summit, Victor Udeozor expressed appreciation for the rich contributions and interventions delivered by Ekeh at the summit.