Can Africa leapfrog the West by the 2030s? In this presentation, I offer a few possible paths that we can take in Africa to leapfrog our economic development. Some of the topics covered: -Formula for economic growth -Impact of robotics and AI -How to turn these disruptive technologies to our advantage -Impact of Internet Penetration -Impact of Decentralization -Potential of Infrastructure Jobs For more information, you can contact me on LinkedIn: www.linkedin.com/in/ronald-chagoury-jr Enjoy and Share your thoughts below!

1. Can African Nations Leapfrog
Ahead Of The West By 2030s?
by Ronald Chagoury (Jr)

2. Can African Nations Leapfrog
Ahead Of The West By 2030s?
by Ronald Chagoury (Jr)

3. Nurture an industrial
economy centered around
low-skilled manufacturing.
The formula for economic development isn’t a secret. For a
country to rise up into the ranks of developed nations, it must:
Use the profits to build out the
nation's infrastructure and
human capital.
Finally, transition to a
consumption-based economy
dominated by high-skilled,
service sector jobs.

4. China has followed with amazing success
since the early 1980s
To be fair, this process usually takes many decades
(and involves many more factors).
But it’s the same process that
the:
US followed after its
independence from the UK
Europe followed after
WWII

5. Some economists worry that Africa
is at risk of losing out from this
development process, however.

6. You can also save on shipping
costs and better protect your
intellectual property.
The thinking is that as developed
nations master AI-powered robotics
by the 2030s, they will manufacture
goods cheaply and without the need
to use outsourced human labor from
developing nations.
If a developed nation can
build a factory of robots that
work 24/7, why outsource at
all?

7. Fortunately, I see another path forward
If this happens, economists
worry that developing nations,
including those in Africa, may
see their economies stall and
become forever dependent on
Western nations.

8. Through effective governance and
the proper application of new,
disruptive technologies,
African nations have the opportunity to leapfrog
over the industrial economy stage altogether and
build out an economy that supports itself entirely
upon infrastructure and service sector jobs.
Let’s Look At Some Examples:

9. This access alone will drive
the creation of new local
industries and economic
development.
Internet Penetration
By late-2020s, Internet
penetration will reach over
80 percent worldwide.
In Africa, that means close to a
billion people will gain access
to high-speed Internet.
As a result, the internet
revolution that modernized
the West will sweep through
Africa with equal (and I
believe, greater) force.

10. New fintech (financial technology) services are
allowing the poor and small businesses access to digital
payments and credit.
Decentralization
Western nations have developed all parts of their infrastructure,
governance, and culture around centralized institutions and
planning—Africa can choose a better path.
New solar and battery tech can allow African nations to
avoid costly national power lines.
Wireless broadband is already allowing us to avoid
costly national phone cables;

11. Because a population boom (in this case, an extra 400 million Africans by 2030)
will require the creation of an entire generation’s worth of jobs that develop
national and urban infrastructure and green energy projects.
Infrastructure Jobs
Africa’s booming population can be a major opportunity.
Why
?

12. Whether that’s
healthcare or nursing
jobs, entertainment,
education, these jobs
will multiply as African
Internet penetration
expands.
Service Job
Just as in the West,
service jobs can replace
manufacturing jobs in the
much of Africa.
These are good-paying,
local jobs that can’t be
outsourced and can’t be
easily automated.

13. On the whole, how quickly and how effectively African governments can adopt
these leapfrogging investments and strategies depends on their:
Thankfully, the revolutions of tomorrow are
abundant and already on their way to positively
impact every single African citizen.
Vision and
execution
How well they can invest
into tomorrow’s
opportunities.

14. Ronald Chagoury Jr is the Vice Chairman of a very
ambitious real estate and infrastructure development
project in Nigeria called Eko Atlantic.
About Ronald Chagoury Jr:

15. Eko Atlantic is a new city under construction
adjacent to Victoria Island in Lagos, Nigeria.
With over 5 million square meters
of prime real estate already reclaimed,
Eko Atlantic is already home to high-end commercial
and residential towers, with many other projects in the
pipeline.