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Innovation and Diversification–Building Stronger Economies in Middle Income Countries

With Lead Programming Partner

NIPDB Logo Final 02 1 e1667573577567 - Innovation and Diversification–Building Stronger Economies in Middle Income Countries

 

SpeakerS:
Lynda Aphing-Kouassi, Founder and Director, KAIZENE International
Akunna Cook, Founder/CEO, Next Narrative Africa
Suneeta Kaimal, President and CEO, National Resource Governance Institute
Nangula Nelulu Uaandja, Chairperson and CEO, Namibia Investment Promotion and Development Board; Concordia Senior Advisor

Innovation and diversification are crucial to building economies, began Lynda Aphing-Kouassi, Founder & Director of KAIZENE International. Now, we must also add innovation to the idea of public-private partnerships. Akunna Cook, Founder/CEO of Next Narrative Africa, explained that she sees a change in mindset around Africa as a center for innovation. When it comes to Africa in particular, given how young it is, we have to engage differently.

 

The energy transition presents a huge opportunity for innovation, noted Suneeta Kaimal, President & CEO of the National Resource Governance Institute. However, transition sometimes upsets the balance between revenue and energy use, resulting in domestic poverty. Nangula Nelulu Uaandja, Chairperson & CEO of the Namibia Investment Promotion and Development Board, agreed that economic activity does not automatically translate into inclusivity and diversity. She prescribed productivity task forces to assist with bottlenecks across sectors.

Cook ended the panel by discussing the differing roles for the private and public sectors. The public sector has to take in enough revenue to invest in human capital and infrastructure, while the private sector must ensure that its investments respect the environment and provide income.  

Key takeaways & next steps:

  • Africa’s young population can offer hope to help foster the idea that Africa is a continent of innovation. 
  • Cross-sector partnerships can be a solution to help build stronger economies.

“Innovation and diversification are crucial for the development of our economies.”

 

Lynda Aphing-Kouassi, Founder & Director, KAIZENE International

“When it comes to Africa in particular, given how young the continent is, given how much dynamism there is, we really have to think differently about the way Africa engages with the world.”

 

Akunna Cook, Founder/CEO, Next Narrative Africa

“First and foremost is ensuring that there is an opportunity, and that opportunity is translated through greater transparency and greater dialogue about what those future pathways look like for individual countries.”

 
Suneeta Kaimal, President & CEO, National Resource Governance Institute

“Economic activity does not necessarily mean inclusivity and diversity.”

 
Nangula Nelulu Uaandja, Chairperson and CEO, Namibia Investment Promotion and Development Board and Concordia Senior Advisor