UP EXPERT OPINION: ‘Africa could lead the way towards a more human-centric, sustainable future’ – UP expert

Africa is a unique place, with its own set of challenges and perceptions of inadequacy. On the one hand, we are urged to embrace the fourth industrial revolution (4IR), as several white papers and government initiatives have shown; on the other hand, some argue that we have not fully managed the third industrial revolution (also known as the information age). However, there are signs that in several facets of the 4IR, Africa is excelling. But as Industry 5.0 enters the mix, the question arises: where should our focus be?

Africa has shown considerable progress in the 4IR, particularly in countries like Nigeria and South Africa, which lead the continent in terms of GDP. In the finance sector, innovative startups are harnessing emerging technologies to drive economic growth and inclusion. In Nigeria, Flutterwave stands out as a leading fintech company, providing seamless and secure payment solutions across Africa. Founded in 2016, Flutterwave has facilitated more than 140 million transactions worth over $9 billion (about R158 billion), enabling businesses to expand their reach and participate effectively in the global economy. Another notable example is Kobo360, a logistics startup that leverages technology to connect freight owners with truck drivers, optimising supply chains and reducing costs across the continent.

South Africa, too, can boast impressive strides in embracing 4IR technologies. Aerobotics, a Cape Town-based company, utilises drones and artificial intelligence (AI) to provide precise agricultural analytics, helping farmers monitor crop health and optimise yields. This innovation not only enhances food security but also positions South Africa as a leader in smart farming solutions. Additionally, Jumo, a fintech startup, uses machine learning and mobile technology to provide financial services to underserved markets, facilitating access to credit and savings products for millions across Africa. VeriFi, a blockchain-based startup, aims to track credentials across not only the continent but all accredited institutes.

Despite these advances, Africa lags behind in other areas that are crucial to the 4IR. The lack of reliable power infrastructure, inadequate physical infrastructure, low employment rates and lagging GDP growth are significant barriers that prevent the continent from fully harnessing the benefits of the 4IR. In many ways, the economic success that is often tied to the 4IR is contingent upon overcoming challenges that stem from not having fully managed the third industrial revolution.

So if Africa has not fully managed the 4IR, how will it get to Industry 5.0?

The good news is that Industry 5.0 is not a departure from the 4IR, but an evolution of it. While the 4IR focuses on digital transformation and the integration of emerging technologies such as AI, big data and robotics, Industry 5.0 takes this a step further by emphasising human-centric innovation and sustainable, inclusive growth. It seeks to harmonise the collaboration between humans and machines, ensuring that technological advancements contribute positively to society and the environment.

This brings us to the importance of ecosystems in driving innovation outcomes. As highlighted in recent studies, such as one that focused on university ecosystems in South Africa, realising the benefits of the 4IR relies heavily on the ability of countries to innovate effectively within supportive ecosystems. These ecosystems, which include universities, makerspaces and innovation hubs, are crucial in providing the necessary environment for ideas to evolve into breakthrough innovations and to develop much-needed entrepreneurial skills.

If Africa can harness the potential of these ecosystems, there is a chance not only to catch up with the 4IR but to also drive Industry 5.0 forward. The continent has already shown that it can innovate in the face of adversity, as seen in the rapid adoption of mobile technologies like M-Pesa in Kenya, which revolutionised mobile banking and financial inclusion.

While the challenges are significant, the opportunity is even greater. Industry 5.0 offers a chance to reimagine Africa's role in the global economy, not just as a participant but as a leader in human-centric innovation. By building on existing successes, understanding the status quo, addressing infrastructural gaps and fostering supportive ecosystems, Africa can position itself at the forefront of the next industrial revolution, ensuring that technological advancements truly benefit all its people.