The Chief Operating Officer of KGL Group, said Science, Technology and Innovation (STI) are key components African need to foster economic and social development.
He said the continent had taken noteworthy steps in different fields, including medicine, engineering, and information technology and Africa’s initiatives toward achieving economic targets were commendable.
He said despite the achievements, most African countries still faced various challenges, including poverty, disease and environmental deprivation.
In an interview with GNA, the telecommunication expert the potential for STI to play a critical role in addressing the issues and promoting Africa’s development was immense.
Emphasizing on how STI could be a key driver to address these challenges, he said “STI can improve agricultural productivity, increase food security, and reduce poverty. Agricultural innovation, including the use of new technologies and improved practices, can lead to increased crop yields, reduced production costs, and higher incomes for farmers. This, in turn, can drive economic growth, create new jobs, and reduce poverty.
“For example, the use of precision agriculture can help farmers to make informed decisions about planting, fertilization, and irrigation, leading to increased crop yields and profitability.” He added.
Dr. Michael also that STI could improve access to healthcare, reduce the burden of disease, and increase life expectancy.
He said Innovations in medicine and medical technology could improve access to healthcare and reduce the burden of disease, leading to increased productivity and economic growth.
He said one of the challenges impeding the growth of STI was the protection and commercialization of innovations. “Africa must address the subject of intellectual property rights (IPR), which are crucial for protecting and commercializing innovations. A strong IPR system is essential for attracting investment in STI and ensuring that the benefits of innovation are shared equitably.
“However, the current IPR system in many African countries is weak, and this poses a significant barrier to the commercialization of new technologies. International companies are reluctant to make investments because of issues related to intellectual property rights,” he noted
He said the role of STI in promoting Africa’s development could not be exaggerated.
“From improving agriculture and healthcare to creating new industries and jobs, STI has the potential to transform the continent’s economy and improve the lives of its people. It can work well to change the fortune of the entire African region”.