Why Africans are not Just Passive Recipients of Technology

Should technology solutions aimed at the developing world, seek to build on and enhance indigenous, activities — economic or otherwise — or, where necessary, is it okay just to replace and lose them?

By Ken Banks

In Ghana, it’s popularly known as Susu. In Cameroon, Tontines or Chilembe. And in South Africa, stokfel. Today, you’d most likely call it plain-old microfinance, the nearest term we have for it.

Age-old indigenous credit schemes have run perfectly well without much outside intervention for generations. Although, in our excitement to implement new technologies and solutions, we sometimes fail to recognize them.

Innovations such as mobile banking – great as they may be – are hailed as revolutionary without much consideration for what may have come before, or who the original innovators may have been.

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Why the Legacy of Uber’s App and Business Model in Africa will outlive the company

The legacy that Uber will leave behind in Africa’s mobile first decentralized digital economic ecosystem is the ability of a simple algorithm to collate disparate sources of demand for goods or services, and then redistribute them in the most efficient and productive manner among suppliers.

By Niti Bhan, 

As news of Uber’s possible decline and fall filters in, it behooves me to take a moment to ponder the implications for sub Saharan Africa’s digital economic ecosystem, particularly, the decentralized hybrid one emerging among the erstwhile informal sectors of the economy, such as motorcycle taxis like Safeboda and other on demand services.

While Uber itself has made waves in all the major urban metros across the African continent – Lagos, Nairobi, Johannesburg, etc – its inevitable end will leave a greater legacy than simply copycat taxi hailing services.

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Why Africa’s Policy Makers Should be Worried About Virtual Platforms and Virtual Currencies

In a lot of ways, Facebook is more like a government than a traditional company. What does this mean for Africa’s Governments, fintech industry and policy makers?

“In a lot of ways, Facebook is more like a government than a traditional company” – Mark Zuckerburg

The rise of virtual internet platforms such as Facebook, Whatsapp, Telegram, Kakao is challenging established regimes of state and sovereignty, monetary policy and issuance of currency, control, ownership and governance of virtual resources in developing countries in Africa.

Billions of users, including Africans are spending more time on virtual networked platforms that command the attention of far greater audiences than the populations of individual nation states. WhatsApp has 1 billion, Telegram 200 million users and Facebook has 2.3 billion users worldwide.

Now, these virtual platforms are all getting into the business of  issuing currencies using ‘blockchains’ or shared ledgers to monetize all the possibilities of economic activity within the confines of their platforms. 

Out of all of them, Facebook’s Libra coin drew the most attention. No surprise at all considering the sheer size of its 2.3 billion people user base.

What does this mean for Africa’s fintech industry and policies, that tech giants from overseas can monetize the digital economy of Africa through non-sovereign means including issuance of digital currencies?

What follows is a transcript of conversations between Michael Kimani  and Andile Masuku, about the current shift to internet virtual platforms, and currencies, and what lies ahead for Africa’s Fintech policy.

Michael Kimani is Head of Business Development East Africa at Zippie, a mobile blockchain platform, a Fintech Innovation Advisor for Visa and Secretary General of the Blockchain Association of Kenya. He is one of East Africa’s renowned digital money analysts.

Andile Masaku is a Co-founder and Executive Producer at Africa Tech RoundUp.

Some parts of this Q&A were pulled from a podcast with Andile, while some of it are from phone discussions with Malak Gharib of NPR and Ronit Ghose of Citi Bank.

The structure is presented in the format of a Question and Answer. Enjoy!

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