DailySun
As global business and political leaders gather for their annual meeting at the World Economic Forum (WEF) in Davos, they will have the opportunity to engage in discussions and negotiations surrounding an African continent that many analysts see as a land of immense possibilities. Despite its challenging past, Africa’s abundant human and natural resources have drawn the attention of international investors who recognize that solutions to numerous global issues—such as climate change, energy transitions, and demographic dynamics—may indeed lie within the continent.
This concept is central to Africa House, making its fifth appearance at the WEF in January 2025. Mamadou Toure, co-founder of Africa 2.0, which is the think tank driving this initiative, emphasizes their mission to address the neglect Africa has faced in global conversations, despite its vast potential. “We believed the continent was not given the prominence it deserves in international discussions and decision-making. Thus, we felt it was necessary to address this. It is fundamentally a civil society initiative,” he remarks, underlining that while other nations have had their representations at Davos for years, Africa has largely remained unheard.
Africa House serves as a dedicated space for discussions and initiatives centered on Africa.
“It’s a forum where we can not only engage in open dialogues but also partake in constructive discussions about the continent’s future trajectory and its ties to the wider world,” Toure explains.
Numerous topics await exploration, as he points out.
“For instance, the African Continental Free Trade Area represents the largest single market globally today. This is certainly significant. By 2050, it is projected that seven out of ten children born on Earth will be Africans, with the continent’s population expected to reach 2 billion. As we think about the future, a crucial question arises: how do we foster dialogues that result in concrete actions and measurable outcomes?”
Africa House strives to be a venue for honest and meaningful discussions about Africa, a space where leaders from both public and private sectors can collaboratively shape the continent’s future.
Leapfrogging Technological Stages
Toure expresses notable optimism regarding the continent’s potential, citing its history of technological leapfrogging and regional integration as proof of what Africa can achieve through coordinated efforts and appropriate investments. He raises concerns that, as global technology continues to advance, Africa risks being overlooked in these discussions, despite its successes in utilizing technology.
“We are aware of how Africa skipped fixed-line telecommunications in favor of GSM [Global System for Mobile Communications]. This shift has profoundly transformed the continent. A clear correlation exists between the introduction of GSM and Africa’s GDP growth,” he observes.
Similarly, Africa could bypass several generations of energy technology to establish new systems that better cater to its needs.
“Is it essential to replicate earlier models? Perhaps a decentralized approach with smart mini grids, enabling communities to independently generate their energy, might serve Africa better,” he reflects.
Africa House, he insists, aims to be the platform where these vital discussions take place and actionable programs are initiated.
This year, Africa House is collaborating with the Pax Technologica initiative and will feature hip-hop artist will.i.am, who also invests in technology. This aligns with the central theme of this year’s WEF meetings, where technology is placed at the forefront of the discussions.
Toure believes a crucial lesson from recent global challenges is that Africans must take charge of their future. In a world marked by instability and shifting power dynamics, Africa must realize it can no longer rely on outdated models and conventional practices. He points out that Africans living abroad send nearly $100 billion back to their home countries annually, eclipsing aid from governments and multilateral organizations in developed nations. Thus, Africa needs to discover innovative ways to harness its diverse assets to promote prosperity rather than depending on external assistance.
Reconsidering the Continent
One of the inquiries to consider will be examining the negative perceptions of Africa that can deter investors and impose a risk premium on African borrowers. Toure is deeply troubled by this challenge and has organized a specific session to address it.
“We are inviting media leaders from Africa and beyond to participate in this dialogue. Unfortunately, perception shapes reality, and risk tends to be fundamentally perceived.”
While Africa boasts lower default rates compared to other continents, it still struggles to attract financing for infrastructure projects. Toure suggests that one potential solution lies in seeking local currency financing, which he believes would “reduce exposure to currency fluctuations.”
Africa 2.0 prides itself on being more than just a think tank that creates reports and advocates for policy changes; it actively pursues the realization of its ideas, with Africa House playing a critical role in that mission. Toure highlights that past events have effectively gathered continental leaders and business representatives, leading to meaningful partnerships, many of which have produced tangible results.
However, he acknowledges that success largely depends on the stakeholders involved rather than Africa House, which merely facilitates these interactions.
“We orchestrate, we facilitate, we inspire, and we steer toward a shared goal. Our role is to ensure that Africa’s voice and perspectives are heard on the global stage. However, we allow the stakeholders to navigate the course for Africa’s future. Our experience indicates that when processes become overly centralized, progress tends to stall.”
Natural Wealth
In at least one domain, Toure is a direct participant.
“Africa’s natural resources are valued at over $100 trillion. Innovative models based on Web3, blockchain technology, and artificial intelligence allow for the tokenization of these assets,” he mentions.
Toure believes that technologies such as tokens can facilitate the monetization and enhancement of Africa’s resources.
Departing from conventional approaches is a recurring theme for Toure. Whether it pertains to financing the continent, creating employment opportunities, or leveraging its assets, he passionately advocates for new methodologies and envisions that Africa House can nurture these ideas. He asserts that the forthcoming 2025 event will unveil some of these new strategies. Groundbreaking announcements regarding technological innovations and investment partnerships are anticipated at Africa House, Toure hints.
“This is where Africa House intends to distinguish itself from many other platforms,” he concludes.
