With technology and science, the continent can solve over 80% of its problems. This is according to Elisabeth Moreno, former French Minister for Gender Equality, Diversity, and Equal Opportunities

Moreno, who spoke with ITWeb Africa on the sidelines of the on-going AfricArena Grand Summit 2024 in Cape Town, South Africa, believes technology is the "most global thing we know today."

A 20-year industry veteran who has held significant positions at big firms such as Orange, Dell Technologies, Lenovo France, and Hewlett Packard Africa, she went on to explain: "Google is probably the tool that everyone on the planet uses and is familiar with.

"But we also have solutions on the continent, such as M-PESA, which demonstrates that we Africans are capable of developing solutions that did not previously exist and can benefit not only our continent, but the entire world."

She warns: "If we do not take advantage of these new dynamics around the world to take our seats at the decision tables, when will we do so? We missed the first three revolutions. We absolutely cannot miss the digital revolution because it would take years to recover (if Africa is left behind).”

Moreno, who was one of the panellists discussing the role of impact investing in African start-up growth, believes there is a growing demand on the continent from politicians and governments to address the challenges the continent confronts.

She adds that she is witnessing an increasing number of countries with this appetite and specifically mentions Kenya, Nigeria, Togo, and South Africa.

"There are many successful start-ups in Francophone, Lusophone, and Anglophone Africa. The issue is finance.

"I am the chairwoman of an investment fund that invests 100% of its assets in entrepreneurs who want to succeed."

Moreno is the chair of Ring Capital and Ring Africa, both of which focus on impact investing, and, as she says, would not exist without the start-ups that are all across Africa.

When discussing the impact of Artificial Intelligence (AI) on the continent and beyond, she adds: "It's all about humans. I see many individuals concerned about what AI will do to jobs that will disappear. Technology is simply a tool designed by humans for humans."

Moreno went on to say: "So what we do with this tool will be up to us, how responsible, ethical, and sovereign we are.

"So far, Africa has relied heavily on the United States, Asia, and China because we lack the ability to develop our own technology.”

Moreno urged for continent-wide collaboration to develop technology "based on our own needs, because we don't have the same needs as other continents."

She continues: "Compared to other countries, we have a high rate of illiteracy. So pretending that we will employ the same technology is ludicrous. We really need to develop technology that meets the needs of the continent."

Furthermore, she says: "So when I speak about collaboration, it's because, again, this appetite may come from our politicians once they truly understand that it is in their interests, their personal interests, the interests of their people, and the interests of their countries to put together means to develop the right tools (technology)."

"Neither Europe, America, Asia, or Australia could develop those solutions alone. So we must learn from the success strategies of others in order to accomplish better for our continent.

“It's easier for us to build some new solutions and some even long-term solutions. Maybe also because we have more problems than other regions that are more developed than we are, that have less youth, with strong desire to have a future in their continent.”

Moreno comes from the Cape Verde Islands and was raised in France. She has served as a consular judge, and currently manages LEIA Partners, which promotes responsible governance, and, as mentioned, is the chair of Ring Capital and Ring Africa.