A Paradox of Poverty & Promise of Plenty | Adrian Saville | TEDxRiversandsBlvd

Africa's Challenges and Potential

• Africa is a diverse continent with 54-56 countries, but its borders were largely imposed by external forces and do not always reflect ethnic or cultural boundaries.
• Africa is rich in resources but faces significant poverty and inequality, often measured by episodes of windfall and disaster, such as discovery and enslavement.
• The single story of Africa as a place of poverty and corruption is inaccurate and does not reflect the continent's diversity and potential.
• There are massive voids and deficits in information and knowledge about Africa, which hinder efforts to address its challenges.

The So-Cal Six Factor Model

• The So-Cal Six Factor model identifies six common ingredients that countries that transition from poverty to prosperity display: elevated levels of savings, demographic structures with more people coming into the workforce than going into retirement, healthcare, education, openness, and policy stability.
• Costa Rica is an example of a country that has successfully transitioned from poverty to prosperity by implementing policies based on the So-Cal Six Factor model.

Africa's Economic Prospects

• Africa has countries with varying prospects for economic growth, with some like South Sudan and Eritrea struggling, while others like Tanzania, Côte d'Ivoire, Ethiopia, and Rwanda show potential for sustained growth.
• Rwanda and Ethiopia have achieved impressive economic growth rates of 7% and 9% per annum, respectively, over the past few decades, demonstrating the potential for African countries to transform and prosper.

Translating Ideas into Actionable Business Models

• Examples such as What3Words, which uniquely maps the entire world, and randomized control trials in Nigeria that support entrepreneurs with business plans and resilience, have shown positive impacts on job creation, innovation, and growth.
• Stacy Brewer's Spark Schools in South Africa provide private school outcomes at public school prices, demonstrating successful business models that drive economic and social impact.
• Ellen Johnson Sirleaf's 150-day plan in Liberia resulted in the successful delivery of 85 projects with a 75% success rate, highlighting the importance of action over long-term planning.

The Speaker's Involvement in Africa

• The speaker's involvement in the Center for African Management and Markets includes projects such as using Visa card transaction data to create a nowcasting tool for economic forecasting and identifying clustering industries and integrating countries.
• DHL's partnership provides access to parcel movement data, enabling the identification of second cities and evolving industries, as well as funding for the Root to Market initiative that connects businesses with investment opportunities.
• Kek Computer Services in Zimbabwe exemplifies the transformation from ideas to action, having built three new businesses in a year through an internal innovation challenge.