Evans Woherem – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Wed, 20 May 2026 10:25:41 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png Evans Woherem – Tech | Business | Economy https://techeconomy.ng 32 32 Woherem: Systems, Not Skin Colour, Hold The Key to Africa’s Development https://techeconomy.ng/woherem-systems-not-skin-colour-hold-the-key-to-africas-development/ https://techeconomy.ng/woherem-systems-not-skin-colour-hold-the-key-to-africas-development/#respond Wed, 20 May 2026 10:25:41 +0000 https://techeconomy.ng/?p=181850 A Nigerian development scholar, Evans Woherem, has argued that Africa’s slow pace of development is rooted less in the capabilities of its people and more in the weakness of its institutions, systems, and governance culture.

In a sweeping article titled “Institutions, Culture, and the African Development Question: Why Systems Matter, and How Africa Can Leapfrog Development,” Woherem said “human beings are broadly similar biologically and intellectually across races and geographies,” stressing that the real difference between prosperous and struggling societies lies in “systems, institutions, cultures, incentives, and historical environments.”

According to him, one of the clearest demonstrations of this reality is the conduct of Africans living abroad.

“Individuals who, within certain African environments, may tolerate disorder, circumvent rules, participate in patronage systems, or adapt to corruption often relocate to countries such as the United States, Germany, Japan, Singapore, or Canada and quickly become highly compliant with laws and institutional expectations,” he wrote.

Woherem, a former Executive Director at both First Bank Plc and Unity Bank Plc, noted that such individuals suddenly obey traffic regulations, respect public infrastructure, pay taxes, and operate efficiently within merit-based systems, insisting that “the human material did not suddenly change. The surrounding institutional architecture did.”

He lamented that many African countries still approach development through what he described as a “project-based conception of development” rather than a systems-driven model capable of sustaining progress across generations.

The author of best-selling books- “Building a New Africa,” and “Information Technology in Africa,” criticised the nature of governance conversations across the continent, saying public discourse often centres almost exclusively on visible infrastructure projects such as roads, bridges, schools, and empowerment schemes, while deeper institutional questions are ignored.

“What institutions have been strengthened? What systems have been redesigned to outlive the present administration? What governance mechanisms now function automatically regardless of who occupies office?” he asked.

The scholar argued that sustainable development cannot be measured merely by the number of projects completed but by whether nations are building durable institutions capable of continuously producing results irrespective of political transitions.

“A nation does not become advanced merely because it constructs roads,” he stated. “It becomes advanced when it builds systems capable of continuously producing, maintaining, financing, regulating, and improving those roads across generations regardless of changes in leadership.”

Woherem further blamed Africa’s institutional fragility partly on colonial structures that were designed primarily for extraction rather than national development.

He said many post-independence governments inherited centralized but weakly accountable systems and merely “localized the machinery of extraction” instead of transforming the state into a developmental institution.

The information technology expert also highlighted the absence of what he called “developmental consciousness” across many African societies, noting that issues such as industrial policy, bureaucratic reform, technological sovereignty, manufacturing competitiveness, and state capacity rarely dominate mainstream public debate.

Drawing comparisons with countries such as Japan, Singapore, South Korea, and China, Woherem said successful industrialisation was driven by strong institutions, disciplined bureaucracies, educational excellence, and long-term planning.

“Their rise was not accidental, nor was it merely infrastructural. It was deeply institutional and civilizational,” he wrote.

The development expert also challenged African media organisations to move beyond “cosmetic” reporting of governance performance by interrogating structural reforms instead of simply celebrating project commissioning ceremonies.

“Instead of merely asking how many roads were constructed, they should ask whether procurement systems have become more transparent, whether regulatory agencies function independently, whether educational outcomes are improving systematically, and whether industrial policies are producing measurable manufacturing expansion,” he said.

Woherem further stressed the importance of “Developmental Industrialists,” pointing to African billionaire Aliko Dangote as an example of economic actors whose contributions extend beyond personal wealth accumulation to building industrial ecosystems and national productive capacity.

He maintained that Africa’s future depends on stronger bureaucracies, impartial legal systems, technologically enabled governance, industrial strategy, educational reform, and a civic culture that rewards competence over patronage.

“Roads alone do not produce civilization. Systems do,” Woherem declared.

He concluded that Africa’s greatest challenge is not a lack of human potential but the absence of institutional structures strong enough to consistently bring out the best in its people.

“And until systems become the centre of African developmental thinking,” he warned, “progress will remain slower, more fragile, and more reversible than it ought to be.”

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Woherem Unveils New Book, “Building A New Africa” https://techeconomy.ng/woherem-unveils-new-book-building-a-new-africa/ https://techeconomy.ng/woherem-unveils-new-book-building-a-new-africa/#respond Mon, 07 Apr 2025 18:04:50 +0000 https://techeconomy.ng/?p=156423 Dr. Evans Woherem, a renowned scholar and thought leader, has unveiled his latest book, Building a New Africa,” urging Africans worldwide to rethink the continent’s future and unite in shaping a new chapter of progress, self-reliance, and shared prosperity.

A timely and thought-provoking publication that offers more than just a history lesson; Building a New Africa not only presents a roadmap for reclaiming Africa’s greatness and unlocking its vast potential, but explores the continent’s rich past, its present challenges, and a bold, actionable vision for transformation.

“This book doesn’t just touch on the past of Africa,” Woherem declares, “but it makes us understand Africa’s potential and offers a vision for a future where Africa can thrive and stand proudly alongside the rest of the world.”

In Building a New Africa, Dr. Woherem draws from history to remind readers of the continent’s glorious civilizations—Egypt, Kush, Mali, Songhai, Oyo, Benin, and Great Zimbabwe, among others—emphasizing Africa’s foundational role in the story of humanity.

He then examines how centuries of slavery and colonialism disrupted this trajectory, leaving long-lasting impacts on political, economic, and social systems.

Despite gaining independence, the book notes that many African nations remain trapped in neo-colonial systems, burdened by political instability, economic stagnation, and underdevelopment.

“The question we need to ask ourselves is: Where did the rain start beating us? How did Africa lose its greatness?” Woherem asks.

But Building a New Africa is far from a lament. It is a clarion call for solutions, providing concrete ideas and practical pathways forward. Central to the book’s thesis is the urgent need for visionary leadership, the kind that can unite people, inspire change, and drive inclusive growth.

It also advocates for a political and economic framework rooted in industrialization, entrepreneurship, and sustainable development. The book outlines strategies for mobilizing resources, building institutions, and investing in sectors that can generate jobs and wealth.

One of the most compelling ideas presented is the proposal of a Pan-African model of development—a cooperative, borderless approach that leverages the collective strength of African nations.

This model, according to the author, is essential to overcoming shared challenges and building resilience.

Dr. Woherem pushes readers to look ahead and ask: What will Africa look like in 50 years if bold steps are taken today?

“This book isn’t just for academics, policymakers, or experts. It’s for all of us—Africans, and anyone who believes in Africa’s potential,” he writes.

Building a New Africa is more than a book—it’s a rallying cry. It invites students, professionals, entrepreneurs, and everyday citizens to join in the conversation and be part of the change. In an era where the narrative about Africa is often marked by pessimism, Dr. Woherem offers a hopeful and empowering alternative.

As the continent stands at a crossroads, Building a New Africa urges all who care about its future to begin imagining, planning, and acting, today.

The public is warmly invited to get a copy of Building a New Africa and engage in this vital conversation. The journey to a renewed, empowered, and united Africa begins with informed minds and inspired hearts.

Dr Evans Woherem, the author of the book, is an award-winning African Technology researcher, analyst, and writer.

He has authored or co-authored three books and numerous academic papers on various areas, including Artificial Intelligence, Expert Systems, Software Engineering, project management, IT Strategy Planning and Technology in Banking.

He worked for Lloyd’s Register (UK) and ABSA bank (RSA) at technical and management levels.

He was a highly successful Executive Director of Information Technology at both First Bank of Nigeria and Unity Bank Plc (Nigeria).

He was the pioneer Chairman of Interswitch Nigeria Ltd, which is today a Unicorn. He was also the Chairman of Chams Access Ltd.

He is currently the Chairman of Digital Africa, Compumetrics Solutions Ltd and Northlink Insurance Brokers Ltd.

He holds a PhD on Impact of Expert Systems. He is a Fellow of the Nigerian Computer Society, and an alumnus of Harvard Business School.

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Woherem Discusses The Place of Technology in Human, Earth’s Evolution https://techeconomy.ng/woherem-discusses-the-place-of-technology-in-human-earths-evolution/ https://techeconomy.ng/woherem-discusses-the-place-of-technology-in-human-earths-evolution/#respond Wed, 05 Jun 2024 13:52:11 +0000 https://techeconomy.ng/?p=133262 Dr. Evans Woherem, an award-winning African technology researcher, author, analyst, and writer has been looking at the evolutionary stages in human life and how these have shaped human interaction with the cosmos, hinting at a future of human-universe unity. 

In an article published on his website, ewoherem.org, the technology promoter, and futurist noted that since its formation 4.5 billion years ago, planet Earth has undergone a remarkable developmental transformation marked by a series of milestones, each one propelling humanity further into the realm of complexity and consciousness.

“This remarkable story of transformation, narrated primarily from the vantage point of groundbreaking scientific insights spanning stardust, living organisms, technology, and even quantum consciousness, serves as a testament to the enduring resilience of life and the boundless human spirit.

“Our progress in understanding the universe, the human brain, and consciousness has brought us to the cusp of a new era of quantum consciousness, where artificial intelligence and quantum computers challenge our perceptions of reality,” he said.

In the 21-page article titled: A Cosmic Dance: From Stardust to Singularity,” Woherem took a holistic look at the remarkable pattern the developmental milestones that have shaped the history of the planet have taken.

SPIRAL DEV MILESTONE
SPIRAL DEV MILESTONE

According to him, “Since the formation of the Earth, the pace of development has accelerated, with each milestone marking a significant leap forward in complexity and consciousness. This accelerating pace presents an ever-decreasing circle of development and a self-reinforcing positive feedback loop where advancements in one area fuel progress in others.

“The evolution of human thought has paralleled our technological advancements. As we progressed from the concrete to the abstract, science and technology emerged as powerful tools for understanding and manipulating the world around us. These tools have enabled us to explore the vastness of the universe, delve into the intricacies of the human brain, and even contemplate the nature of consciousness itself.”

Woherem, erstwhile Executive director at both First Bank of Nigeria and Unity Bank averred that the relentless pursuit of knowledge seems to be guiding humanity towards a new era of quantum consciousness, where the boundaries between the physical and the abstract blur.

He opined that the concept of technological singularity, the hypothetical moment when artificial intelligence surpasses human intelligence coupled with the emergence of quantum computers, raises profound questions about humanity’s future and the quantum nature of consciousness.

“Our journey has taken us from the physical world to life, to civilization, to technology, to artificial intelligence, and now to quantum computers. This path seems to be leading us into the uncharted territory of the unknown. From the inanimate to the quantum, from physical existence to consciousness, this journey is a testament to the Earth’s extraordinary capacity for transformation and the human spirit’s boundless quest for understanding,” he said.

Woherem, who also mentors young Startups, CEOs, and Entrepreneurs posits that as humanity stands at the threshold of a future filled with challenges and immense potential, the developmental milestones discussed in this article serve as a reminder of the remarkable journey that has brought humanity to where we are today.

On the challenges and ethical considerations in the Information Age, the technology expert noted that the Information Age brings with it new problems, adding that its technological advances have transformed every element of existence even as he cautioned that the widespread access to information and AI needs serious ethical concerns.

“As we look to the future, with possibilities like “Quansciousness” on the horizon, ethical use of technology will be critical. Navigating this unfamiliar terrain necessitates a reflection on our prior experiences, ensuring that our technological advancement stays sustainable and ethical,” he cautioned.

He observed that the Information Age has ushered in a new era of digital connectivity and globalization with Artificial intelligence, big data, and other transformative technologies further accelerating this transformation, redefining interactions with the world, and shaping a future characterized by unprecedented automation, personalization, and efficiency.

“As we navigate the challenges and opportunities of the future, it is important to remember that humanity is capable of great things. We have overcome many challenges in the past, and we can do so again,” Woherem further said.

Read the full article here…

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The Hanke’s Misery Index: How Africa’s Economic Challenges Are Holding Back the Continent [III] https://techeconomy.ng/the-hankes-misery-index-how-africas-economic-challenges-are-holding-back-the-continent-iii/ https://techeconomy.ng/the-hankes-misery-index-how-africas-economic-challenges-are-holding-back-the-continent-iii/#respond Mon, 24 Jul 2023 07:15:32 +0000 https://techeconomy.ng/?p=108364 Writer: EVANS WOHEREM, Ph.D (Continued from Part II)

Addressing the Root Causes

The section highlights the urgent need to address the root causes of poverty and economic challenges in many African nations. It emphasizes the importance of decisive action, effective leadership, and learning from successful examples to overcome these challenges and foster sustainable development.

The section also covers various key areas, including addressing immediate challenges, implementing sustainable economic strategies, promoting infrastructure development and regional integration, and the significance of unity among African nations.

1. Addressing Immediate Challenges

Addressing the immediate challenges faced by African nations, as highlighted by the Hanke’s Annual Misery Index of 2022, is crucial.

This section emphasizes the importance of tackling inflation, unemployment, and poverty-contributing factors to create an enabling environment for economic growth and improved well-being.

To overcome these challenges, decisive action and effective leadership are required, prioritizing the well-being of citizens and implementing sustainable economic policies.

In order to accelerate development, African countries need to learn from successful examples. By studying countries that have transformed their economies and improved living standards, Africa can adapt their strategies and adopt a comprehensive, multi-pronged approach.

This approach should include economic reforms, investments in education and skills, promotion of entrepreneurship, strengthening of institutions, improvement of infrastructure, and fostering regional cooperation.

By addressing the challenges highlighted by the Misery Index, African nations can create a favorable environment for economic growth and improved well-being.

Effective leadership, learning from successful experiences, and implementing a comprehensive approach are essential for overcoming the present challenges and setting Africa on a sustainable path of development and prosperity.

2. Implementing Sustainable Economic Strategies

To foster sustainable economic growth in Africa, it is crucial to address the root causes of economic challenges with comprehensive and innovative strategies. This includes implementing prudent fiscal policies to combat inflation effectively, controlling government spending, managing public debt, promoting transparency and accountability, and tackling waste and corruption in government spending.

Additionally, creating sustainable employment opportunities through investments in sectors with growth potential, promoting entrepreneurship, vocational training programs, and public-private partnerships can empower individuals and drive economic progress.

Political stability is paramount for long-term economic growth. Fostering peaceful and inclusive societies, resolving conflicts through dialogue, and strengthening democratic institutions are key aspects to focus on.

By promoting the rule of law, protecting human rights, ensuring citizen participation, and establishing transparent governance structures, African nations can create a favorable environment for investment and sustainable development, attracting investments and encouraging the establishment of transparent governance structures.

Facilitating affordable and accessible credit is vital for stimulating investment and economic growth.

African governments should work towards creating an enabling environment for credit access by implementing sound financial regulations, promoting competition among financial institutions, improving financial literacy, and empowering individuals and businesses with favorable credit terms through measures like credit guarantees for small enterprises.

3. Promoting Infrastructure Development and Regional Integration

To achieve a sustainable future, Africa must prioritize infrastructure development and regional integration. Addressing Africa’s reliance on imported energy sources is a critical aspect of this endeavor.

By promoting decentralized renewable energy systems, such as mini-grids and community-owned projects, Africa can provide electricity access to remote areas while involving local communities in renewable energy initiatives.

These decentralized systems not only reduce dependence on imports but also yield cost savings, enhance energy security, lower emissions, and stimulate local economic growth. Successful implementation of these projects necessitates government support, financial incentives, and collaboration with the private sector.

In addition, digital connectivity and financial inclusion are instrumental in driving economic growth and development in Africa. By expanding broadband infrastructure and leveraging blockchain technology, Africa can revolutionize access to digital services, e-commerce, and education, thereby uplifting millions of lives.

This expansion of internet access extends the benefits of online banking, e-commerce platforms, and educational resources to underserved rural communities, fostering communication and collaboration between businesses and government agencies. Blockchain technology ensures secure and transparent financial transactions, effectively curbing fraud and corruption and bolstering trust in financial systems.

Together, digital connectivity and financial inclusion empower Africa, promoting inclusivity and prosperity.

Furthermore, sustainable infrastructure development plays a crucial role in building a greener and more efficient future for Africa. By prioritizing green infrastructure projects, such as renewable energy-powered transportation systems and energy-efficient buildings, Africa can significantly reduce greenhouse gas emissions, improve air quality, and generate employment opportunities in the clean energy sector.

Integrating smart city concepts further enhances efficiency by leveraging technology to optimize traffic flow and monitor energy usage, promoting sustainable urban development.

To drive economic progress, regional integration and trade promotion are vital for Africa. Strengthening regional economic communities encourages collaboration, reduces trade barriers, and harmonizes regulations, facilitating cross-border investments. Developing robust transport and logistics networks enhances connectivity, enabling seamless movement of goods and services between businesses and markets.

By promoting cross-border investments, Africa can leverage new technologies, skills, and job opportunities, fostering sustainable growth and development across the continent.

In conclusion, promoting infrastructure development and regional integration is crucial for Africa’s sustainable future.

By focusing on decentralized renewable energy systems, digital connectivity, sustainable infrastructure, and regional collaboration, Africa can overcome challenges, drive economic growth, and foster prosperity.

4. Uniting African Nations for Economic Progress

The unity and cooperation among African nations through regional or continental integration are paramount for driving economic progress.

Currently, intra-Africa trade represents just 14.4% of total African exports. However, according to forecasts from the United Nations Conference on Trade and Development, implementing the African Continental Free Trade Area (AfCFTA) has the potential to boost intra-Africa trade by approximately 33% and reduce the continent’s trade deficit by 51%.

The relatively low levels of intra-regional trade in Africa compared to other regions like Europe (69%), Asia (59%), and North America (31%) underscore the need for enhanced collaboration within the continent.

The urgency for African countries to unite at the regional or continental levels cannot be overstated. Many African nations lack the necessary size and strength to effectively operate on their own.

Encouragingly, the ongoing efforts made by East African countries towards unity serve as an inspiring example for the rest of Africa, emphasizing the importance of cooperation in addressing pressing economic challenges. Prompt adoption of the East African model by other African countries and regions is essential.

The African Union (AU) has already taken significant strides in tackling economic challenges through initiatives like the AfCFTA, African Agenda 2063, and the development of the Pan-African Payment and Settlement System by the African Export-Import Bank.

These commendable efforts deserve recognition and support as they hold tremendous potential to drive Africa’s development. It is crucial to effectively implement these projects within their designated timeframes.

Successful execution of these initiatives would not only enhance intra-Africa trade but also contribute to overall economic growth and prosperity in Africa. Given the urgency of the situation, it is imperative for all African countries to unite and collectively overcome the obstacles that have hindered their progress.

Investing in critical areas such as inflation management, unemployment reduction, poverty alleviation, entrepreneurship promotion, political stability, affordable credit, renewable energy, digital connectivity, sustainable infrastructure, and regional integration is vital for Africa’s development.

By adopting a comprehensive approach and drawing inspiration from successful examples, Africa can reduce poverty, improve the quality of life, and stimulate economic growth. Effective leadership, innovation, and a commitment to learning from successful experiences are essential in paving the way towards a prosperous and inclusive future for Africa. The unity of African nations is the key to unlocking the continent’s economic potential.

Conclusion

The economic challenges faced by African countries, as evidenced by the Hanke’s Annual Misery Index of 2022, highlight the urgent need for comprehensive and targeted strategies to address the root causes of these issues.

Factors such as inflation, unemployment, political instability, and poor governance have a profound impact on the well-being and development of African nations.

To overcome these challenges and unlock Africa’s economic potential, a multi-faceted approach is necessary.

Addressing inflation requires prudent fiscal policies, control over government spending, transparency, and accountability to combat rising prices. High unemployment rates, particularly among the youth, call for investments in education, vocational training, entrepreneurship promotion, and public-private partnerships to create sustainable job opportunities.

Political stability is crucial for long-term economic growth, and it can be fostered through peaceful and inclusive societies, resolving conflicts, and strengthening democratic institutions.

To stimulate investment and economic growth, affordable and accessible credit must be facilitated through sound financial regulations, competition among financial institutions, and favorable credit terms for individuals and businesses.

The promotion of decentralized renewable energy systems can reduce Africa’s reliance on imported energy sources, improve energy security, and foster local economic development.

Digital connectivity, financial inclusion, and the adoption of blockchain technology can revolutionize access to digital services, e-commerce, and education, promoting inclusivity and prosperity.

Sustainable infrastructure development, prioritizing green projects and smart city concepts, is essential for building a greener and more efficient future in Africa. Regional integration and trade promotion play a vital role in economic progress by fostering collaboration, reducing trade barriers, and enhancing connectivity.

In fact, Africa needs to unite into confederated countries in order to maximize its potential and its place in the committee of nations.

By investing in these areas and adopting innovative strategies, Africa can address the root causes of economic challenges, reduce poverty, and promote sustainable economic growth. Effective leadership, learning from successful examples, and a commitment to comprehensive development are crucial in transforming the economic landscape of Africa and improving the livelihoods of its people. With the right policies and actions, Africa can pave the way for a prosperous and inclusive future.

End

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The Hanke’s Misery Index: How Africa’s Economic Challenges Are Holding Back the Continent [II] https://techeconomy.ng/the-hankes-misery-index-how-africas-economic-challenges-are-holding-back-the-continent-ii/ https://techeconomy.ng/the-hankes-misery-index-how-africas-economic-challenges-are-holding-back-the-continent-ii/#comments Mon, 17 Jul 2023 06:12:32 +0000 https://techeconomy.ng/?p=107442 Writer: EVANS WOHEREM, Ph.D

Root Causes of Economic Challenges in African Countries [Part I]

The economic challenges faced by several African countries, as highlighted by the 2022 Hanke’s Annual Misery Index, are multifaceted and have far-reaching consequences for the well-being of their populations.

In this section, we will explore the root causes of these challenges and their impact on inflation, unemployment, and overall economic stability.

By delving into distinct factors such as inflation rates and external factors, high unemployment rates and youth employment, and the influence of political instability, poor governance, and excessive lending rates, we can gain a comprehensive understanding of the complex economic landscape in African countries.

1. Inflation and External Factors

Mitigating Inflation
Rising Inflation

Inflation rates have had a detrimental impact on several African countries, including Zimbabwe, Sudan, Angola, Ghana, Rwanda, Ethiopia, and Nigeria.

These nations have witnessed significant inflation rates. For instance, Zimbabwe reached an alarming rate of 243.8% in 2022, while Sudan and Ghana faced rates of 176.1% and 54.1%, respectively. This high inflation has resulted in a decline in purchasing power, making it increasingly difficult for individuals and families to afford basic necessities.

A study conducted by the International Monetary Fund in 2022 highlights a significant increase in inflation across sub-Saharan Africa in recent years.

This rise in inflation can primarily be attributed to external factors such as global food prices, oil prices, and disruptions in the supply chain. Despite the gradual recovery of domestic demand following the COVID-19 pandemic, its contribution has been insufficient to offset the effects of these escalating external factors.

2. Unemployment and the Plight of African Youth

Unemployment in Nigeria-
Unemployment in Africa

High unemployment rates pose a significant economic challenge in many African countries. For instance, Angola, with a misery index score of 93.518, and South Africa, scoring 83.492 on the index, have been grappling with substantial unemployment issues.

In Botswana, Eswatini, Gabon, Sao Tome and Principe, Congo (Brazzaville), Libya, Nambia, Lesotho, Tunisia, and Mauritania, the index scores range from 45.4 to 64.023, indicating the prevalence of unemployment and its impact on their respective economies.

The situation becomes particularly alarming when considering the plight of young people in Africa. The African Development Bank highlights that youth unemployment in many African nations exceeds twice the rate of adults.

This means that millions of young individuals struggle to secure employment, severely impacting their future prospects.

Former Zambian finance minister, Alexander Chikwanda, vividly described youth unemployment as a “ticking time bomb.” This analogy powerfully emphasizes the potential consequences of this issue. With an estimated 10-12 million young people entering Africa’s labor market each year, it is evident that youth unemployment demands urgent attention.

Beyond its economic implications, youth unemployment also carries serious security concerns. Nigerian journalist Ahmad Salkida highlights how militant groups like Boko Haram find it easy to recruit frustrated and unemployed young individuals.

This underscores the imperative to address youth unemployment not only as an economic challenge but also as a preventive measure against security threats in the region.

3. Political Instability, Poor Governance, and Excessive Lending Rates

Youth Civic Participation
BRT burnt during EndSARS protest in Nigeria

Political instability, as witnessed in Sudan, exacerbates economic challenges. The recent war in Sudan resulted in loss of life and forced displacement of a significant portion of the population.

Political conflicts disrupt economic activities, deter investment, and hamper the implementation of effective economic policies, further deepening the misery experienced by citizens.

In 2023, West Africa faces heightened instability with recent coups in Burkina Faso, Guinea, and Mali, coinciding with ongoing conflicts in the Sahel and extending violence to previously peaceful areas like Benin and Togo.

Poor governance, as evidenced by low scores on governance indicators measured by the World Bank, exacerbates the situation, with political instability and violence, including terrorism, experiencing the most significant decline over the past two decades.

These governance indicators, particularly instability, not only undermine peace and security but also have adverse effects on the region’s economic growth and development. Instability brings political risk, which deters investors from the region, leading to minimal foreign direct investment and limited trade. Moreover, our analysis of World Bank data reveals that while West Africa’s GDP has grown at a compound annual rate of 4 % between 1990 and 2021, per-capita growth has been sluggish at just 1.3 % due to rapid population growth.

These factors highlight the urgent need for stability, good governance, and effective measures to attract investment and foster sustainable economic growth in the region.

Excessive lending rates, such as those observed in Zimbabwe (131.8%) and Angola (20.118%), pose significant barriers to economic growth and development. These high rates make it difficult for individuals and businesses to access credit, hindering investment, entrepreneurship, and overall economic expansion.

In Africa, interest rates play a crucial role in shaping economic growth and affecting access to basic needs. While higher interest rates can indicate economic potential and stimulate investment, this is not always the case.

Zimbabwe stands out with the world’s highest interest rate of 150%, making it the most expensive country to borrow money in.

Ghana also faces challenges with high interest rates of 29.5%, reflecting efforts to curb inflation. Sudan, on the other hand, records a benchmark interest rate of 27.30%, attributed to various factors such as macroeconomic imbalances, structural deficiencies, political instability, and the impact of COVID-19. To ensure economic stability and growth, it is crucial to address lending rates and create an environment that fosters economic development.

To be continued…

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The Hanke’s Misery Index: How Africa’s Economic Challenges Are Holding Back the Continent https://techeconomy.ng/the-hankes-misery-index-how-africas-economic-challenges-are-holding-back-the-continent/ https://techeconomy.ng/the-hankes-misery-index-how-africas-economic-challenges-are-holding-back-the-continent/#comments Mon, 10 Jul 2023 11:48:28 +0000 https://techeconomy.ng/?p=106756 Writer: EVANS WOHEREM, Ph.D

Introduction

Unleashing the economic potential of any nation requires unwavering commitment and a clear vision. However, Africa, a diverse continent abundant in resources and human capital, faces numerous challenges that impede its development and progress.

Political unrest, corruption, poverty, human rights violations, and economic instability cast a dark shadow over many African nations, intertwining to create pervasive challenges that foster instability, hamper development efforts, and uproot countless lives.

These claims are supported by numerous studies, reports, and data. Indices such as the Ibrahim Index of African Governance and the Global Corruption Barometer by Transparency International shed light on governance and corruption levels, revealing systemic issues that contribute to overall distress. Reports from esteemed international organizations like the United Nations and the World Bank offer in-depth analysis, highlighting the multidimensional nature of the problems, including the impact of political instability and human rights violations on societal well-being.

To gain a clearer understanding of the economic challenges faced by African nations, we can look at the 2022 Hanke’s Annual Misery Index. This index provides insight into the economic hardships experienced by countries by considering various indicators. It is a composite measure that takes into account the year-end unemployment rate (multiplied by two), inflation rate, bank-lending rates, and the annual percentage change in real GDP per capita. The index combines these elements to yield the Hanke’s Annual Misery Index (HAMI) score, with higher scores indicating greater economic misery.

According to the 2022 HAMI scores, several African countries ranked among the 50 most severely afflicted nations. Zimbabwe claimed the unfortunate title of the world’s most miserable country with a score of 414.7, followed by Sudan (176.1) and Angola (93.518). Other countries on the list included Ghana (86.8), South Africa (83.492), Rwanda (69.192), Botswana (64.023), Madagascar (63.6), Malawi (63.5), Eswatini (63.1), Gabon (62.4), Sao Tome and Principe (62.3), Congo (Brazzaville) (61.5), Ethiopia (61), Libya (60.3), Namibia (55.7), Lesotho (51.6), Algeria (50.2), Nigeria (47.2), Tunisia (46.905), and Mauritania (45.4). These nations confront profound challenges and overwhelming hardships, with their misery index scores reflecting the weight of inflation, unemployment, and burdensome lending rates.

The consequences of these elevated misery index scores extend widely within the affected countries. Scarce resources that could otherwise be invested in infrastructure, education, and healthcare are diverted towards addressing immediate needs, impeding long-term development efforts. Additionally, political instability and human rights abuses erode social cohesion, intensify societal divisions, and constrain opportunities for dialogue and progress. Also, the displacement of millions of people places added strain on already fragile systems, burdening host communities and affecting regional stability.

Furthermore, these consequences transcend national boundaries. The high misery index scores contribute to a negative portrayal of the continent, potentially dissuading foreign investment and impeding economic cooperation. Consequently, the perpetuation of stagnation and economic hardships fosters a cycle of poverty, constraining opportunities for future generations and impeding the achievement of sustainable development goals.

Addressing the complex challenges facing Africa necessitates a comprehensive approach involving good governance, anti-corruption measures, poverty reduction strategies, human rights protection, economic stability, regional cooperation, and technological innovation.

By confronting political unrest, corruption, poverty, and economic instability while drawing inspiration from successful models, African nations can pave the path toward sustainable economic development, social stability, and improved livelihoods.

The following sections will delve deeper into each challenge, exploring their root causes, examining their implications, and discussing potential strategies and solutions.

By recognizing and understanding the hurdles faced by African nations, we can foster informed discussions and contribute to the formulation of effective policies that foster inclusive growth, shared prosperity, and the safeguarding of human rights, thereby transforming Africa’s economic landscape.

Economic Challenges in African Countries

The economic challenges faced by African countries are a matter of concern, with various nations experiencing significant difficulties. This section explores the economic struggles of Zimbabwe, Sudan, Angola, Ghana, and other African nations, shedding light on their specific challenges and rankings on the Misery Index.

This index, developed by Steve Hanke, a professor of applied economics at Johns Hopkins University, takes into account both the economic performance and the socioeconomic conditions of countries’ populations.

Additionally, it highlights the contrast between countries facing misery and those achieving greater happiness, underscoring the uneven progress across the continent.

1. Zimbabwe’s economic challenges and unfortunate ranking

Zimbabwe's economic challenges
Zimbabwe’s economic woes (PHOTO: BBC/Google)

Zimbabwe’s economic challenges have led to an unfortunate ranking as the most miserable country in the world for the second consecutive year, according to the 2022 Hanke’s Annual Misery Index.

Several factors contribute to this ranking, notably the country’s staggering inflation rate, which reached 243.8% in 2022. Such high inflation erodes the value of the local currency, making it increasingly challenging for individuals to afford basic necessities and maintain a stable standard of living.

Moreover, Zimbabwe faces the hurdle of high lending rates, standing at 131.8%. These elevated borrowing costs make it difficult for businesses and individuals to access affordable credit, hindering investment and impeding economic growth. The lack of adequate financing opportunities stunts the economy’s expansion, resulting in stagnant development.

Trade integration, or rather the lack thereof, is another critical aspect impacting Zimbabwe’s economic situation. The decline in trade integration has restricted the country’s ability to acquire new technologies and attract investment. Trade integration plays a vital role in facilitating the sharing of knowledge, resources, and innovation among countries, which significantly contributes to economic growth. Without this avenue for collaboration and access to new opportunities, Zimbabwe finds it challenging to develop and improve its economic prospects.

The burden of debt and arrears to international financial institutions (IFIs) further exacerbates Zimbabwe’s challenges.

The country’s substantial level of debt, coupled with its inability to make timely payments to IFIs, hampers its capacity for investment and development. Instead of directing resources towards productive sectors and infrastructure, Zimbabwe must allocate a significant portion of its income to debt repayments. Furthermore, the accumulation of arrears makes it increasingly difficult for the country to obtain new loans, thereby limiting its potential for growth.

Consequently, a considerable portion of the Zimbabwean population is grappling with severe financial difficulties, struggling to meet their basic needs.

The combination of high inflation, exorbitant lending rates, limited trade integration, and a significant debt burden has created a challenging environment for individuals and businesses alike. Addressing these issues through effective economic policies and reforms becomes crucial to alleviate the financial hardships faced by Zimbabweans and foster sustainable development.

2. Sudan’s Economic Challenges and Political Instability

Sudan crisis
Effect of Sudan crisis (Photo: UN News/Google)

Sudan has been grappling with a range of significant economic challenges that have had a substantial impact on the country. One of the primary concerns is the soaring inflation rate, which reached a peak of 220.71% in April 2022.

However, according to projections by the African Development Bank, there is hope for improvement, with inflation expected to moderate to 83.2% in 2023 and further decrease to 75.5% in 2024.

Simultaneously, Sudan has witnessed a rise in the poverty rate, which reached 66.1% in 2022. This increase is partly attributed to the high unemployment rate of 20.6% during the same year. The economic hardships faced by the Sudanese population are further exacerbated by political instability.

In addition to these challenges, Sudan has been grappling with an ongoing armed conflict since 2011. This protracted conflict has resulted in significant human casualties, with over 500 lives lost, and has displaced more than 1 million individuals.

Furthermore, Sudan is confronted with environmental challenges, including land degradation, temperature increases, droughts, floods, erratic rainfall, and locust invasions. These environmental factors have had a detrimental impact on agricultural output, impeded GDP growth, and destroyed livelihoods.

Despite these formidable challenges, Sudan boasts abundant natural resources, such as arable land, livestock, and minerals. However, the full utilization of these resources has been hindered by financing deficiencies.

Effectively addressing the economic challenges faced by Sudan and overcoming political instability are pivotal steps towards improving the country’s economic prospects and enhancing the well-being of its citizens.

3. Economic Challenges in Angola, Ghana, and Other African Nations

The 2022 HAMI rankings provide insights into the economic challenges faced by Angola, Ghana, and several other African countries. Angola is ranked 13th with a HAMI score of 93.518, struggling with a high unemployment rate of 29.6%, an inflation rate of 13.9%, and a bank lending rate of 20.118%. Similarly, Ghana holds the 15th position on the Misery Index, burdened by an alarming inflation rate of 54.1% and achieving an index score of 86.8.

These challenges are not unique to Angola and Ghana. Many other African nations also grapple with significant economic hurdles. South Africa, positioned 16th on the Misery Index, records an index score of 83.492 primarily due to high unemployment rates. Rwanda, ranked 20th, achieves a score of 69.192 with inflation being a major contributing factor. Botswana, at the 21st spot, has an index score of 64.023 mainly influenced by elevated unemployment rates.

Moreover, countries such as Madagascar, Malawi, Eswatini, Gabon, Sao Tome and Principe, Congo (Brazzaville), Ethiopia, Libya, Namibia, Lesotho, Algeria, Nigeria, Tunisia, and Mauritania also face economic difficulties characterized by high unemployment rates, inflation, or lending rates.

The HAMI rankings shed light on the economic challenges experienced by various African countries, highlighting the need for targeted measures to address unemployment, inflation, and lending rates. It is crucial to alleviate the hardships endured by their populations. The situations in Zimbabwe, Sudan, Niger, Togo, and other African nations serve as poignant reminders of the urgent need to tackle economic instability and implement effective policies across the continent.

Recognizing the profound impact of high inflation rates, unemployment, and other economic challenges on individuals’ well-being, it becomes imperative to prioritize sustainable development, job creation, and economic reforms. These steps are crucial for uplifting the lives of African citizens and ensuring a brighter and more prosperous future for all.

4. Contrasting Happiness and Economic Struggles in Africa

Africa's Economic Challenges
A quest for happiness amidst crisis and economic challenges in Africa (PHOTO: ACCORD/Google)

It is indeed disconcerting to observe that four African countries—Zimbabwe, Sudan, Angola, and Ghana—are ranked among the top fifteen “most miserable” countries. However, it is worth noting the significant contrast that exists within the African continent. As evidenced by the 2022 HAMI, Niger and Togo were among the top ten “happiest” countries.

This striking disparity highlights the uneven progress made by different African nations in their pursuit of greater happiness and well-being. While some countries have made strides towards improving their conditions, many others continue to face substantial economic challenges, leading to a state of ongoing misery.

The varying experiences of African countries in terms of happiness and well-being underscore the need for concerted efforts to address the underlying economic factors that contribute to misery. By identifying and tackling these challenges head-on, African nations can work towards creating more equitable and prosperous societies for their citizens.

Continue reading HERE:

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ISPON: Why Indigenous Software Developers Should Invest in AI Research, according to Dr Woherem https://techeconomy.ng/ispon-why-indigenous-software-developers-should-invest-in-ai-research-according-to-dr-woherem/ https://techeconomy.ng/ispon-why-indigenous-software-developers-should-invest-in-ai-research-according-to-dr-woherem/#respond Mon, 19 Jun 2023 23:08:00 +0000 https://techeconomy.ng/?p=104796 By: OLIVIA NNOROM

Artificial Intelligence utilization holds the potential to foster Africa’s growth and progress as well as lead to unfavorable outcomes.

Therefore, it is imperative for Africa to embrace its adoption, construct AI systems that operate with ethical principles, and make establishment of AI research centers a priority.

In fact, the Institute of Software Practitioners of Nigeria (ISPON) is leading this charge to awaken Nigerian developers on the necessary steps to take, to be recognized in the fast-growing AI adoption.

Dr. Evans Woherem, Founder of Digital Africa
Dr. Evans Woherem, Founder of Digital Africa

Speaking at ISPON Conference and Extraordinary General Meeting (AGM) held on Friday, June 16, 2023 in Lagos, Dr. Evans Woherem, Founder of Digital Africa, and a member of the Institute (ISPON), reiterated the need for AI research, innovation and investments.

Bimbo Abioye ISPON
Bimbo Abioye, President of ISPON

He said these are part of national strategies members of the Institute should leverage to harness the potential of AI while addressing the associated risks and challenges in the country.

In his lecture titled, “National Software Challenges, Opportunities and Risks”, Woherem urged the Nigerian Software practitioners to be proactive and do more in the area of research as opposed to depending entirely on the western community.

He stressed that the government, individuals and organizations should also be part of technology growth by facilitating funding in the area of research initiatives, upskilling, reskilling and talent development, especially with regards to AI.

“The technology that would inform how we live in this 21st century and beyond are already being fabricated in the laboratories of the west, Japan, China and in places like Iceland”

“But here in Africa we don’t do much research in terms of developing new Technologies, we are almost like a follower Continent, ” Woherem said.

He also said that in addition to funding research initiatives, the industry should encourage interdisciplinary collaborations through cross-pollination of ideas and knowledge.

Woherem said that other national strategies such as Ethical and responsible AI framework, Domestication of Ai systems to African Environment and impact study institutes, would improve AI useability in the country.

Furthermore, he said that establishing an ethical and responsible AI framework would help to increase transparency and fairness, mitigate Bias, and facilitate privacy and data protection.

Woherem who spoke on the suitability of the AI materials consumed in the country said that information technology comes with the culture, and mindset of those that developed them.

He stressed that it is therefore possible for some of these technologies to change the culture of foreigners consuming them.

We have to find a way to inspect foreign developed systems, so that we can customize, recalibrate and re-parameterize the system to speak to AI in our Nigerian community,”

Woherem said.

He added that the discussed strategies will help to solve the problem of ethical considerations, algorithmic bias and fairness and limited human oversight.

However, he noted that AI regulatory and control departments and agencies are necessary to craft comprehensive regulatory frameworks that address the ethical, legal, and societal aspects of AI and implement mechanisms to ensure compliance with its regulations.

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The Onslaught of Artificial Intelligence (AI) https://techeconomy.ng/the-onslaught-of-artificial-intelligence-ai-2/ https://techeconomy.ng/the-onslaught-of-artificial-intelligence-ai-2/#respond Tue, 31 Jan 2023 00:17:09 +0000 https://techeconomy.ng/?p=94343 (See the Beginning HERE)

Even though we still do not have AGIs today, Ray Kurzweil, among other AI experts, predicts that AGIs will be developed by 2045, citing the Law of Accelerating Returns, which deduces that the rate of technological growth is exponential.

It is crucial to keep in mind that these projections are based on current trends and advancements in the field of AI and that developing AGI is a complex and ongoing process that might not occur in a specific order.

It is also worth noting that AGI does not necessarily imply replicating all human capabilities; rather, it could refer to systems that are advanced enough that humans perceive them as AGI, but the consequences of having such systems are unknown. It could be compared to opening a Pandora’s Box or attempting to construct a new Tower of Babel, with unknown and potentially negative consequences for humanity and the world.

I believe in the long run, the net effect will be negative, perhaps even catastrophic, for our earth, unless we do something to regulate them appropriately.

5. Implications of Artificial Intelligence

Humans have been attempting to increase the forms, types, places, and reach of communication, resulting in the emergence of many forms of communication, including written language, oral language, sign language, and more recently, digital communication. For example, through the use of books, letters, and other written documents, written language has made it possible for humans to communicate over great distances and long periods. The printing press facilitated written communication after the fifteenth century.

The telephone and telegraph enabled long-distance communication in the nineteenth century. The development of radio, television and the internet has significantly expanded the reach and extensibility of communication and information during the 20th century. Communication with anyone at any time is now possible thanks to the internet and mobile technology. Social networking and instant messaging are new forms of communication as well.

Most machines developed during the agrarian, industrial, and post-industrial eras have ended up deskilling and displacing humans from their traditional vocations, whether in crafts, blue-collar, or clerical work. However, they have also increased production and opened up new areas of labour for individuals who were displaced. As a result, there have been more employment increases than job losses overall.

Many of stakeholders believe that this will always be the case, even for artificial intelligence systems. However, Artificial Intelligence can replace not only monotonous administrative and physical tasks, but also virtually every other job, including those of artists, programmers, teachers, doctors, researchers, lawyers, accountants, and managers—indeed, everyone’s work. Managers have believed that having 1,000 employees will cause 1,000 headaches for them since the beginning of time. So, they will employ whatever machines or methods that allow them to eliminate numerous workers.

However, it is important to note that the impact of Artificial Intelligence on the workforce will likely be more complex than simply replacing jobs. Artificial Intelligence has the potential to improve human capabilities, produce more work, and create new jobs.

Additionally, the rate at which AI will impact different industries and job types will vary, and some jobs may be more resilient to automation than others. It is also important to consider the ethical and societal implications of AI and its impact on the workforce. For example, there may be concerns about income inequality and the displacement of certain groups of workers.

It is crucial for policymakers and industry leaders to carefully consider these issues and develop strategies to mitigate negative impacts while harnessing the potential benefits of AI. Moreover, there is a need to think about retraining programs, education and upskilling of the workforce, and to ensure that the benefits of AI are shared equitably across society.

6. The Ethical Implications of Giving AGI a Human-Like Brain

Are we trying to give AGI a human-like brain and make it self-aware? This seems to be what we are doing, advertently or inadvertently.

The question of whether to give AGI self-awareness and consciousness is a contentious issue.

Some argue that replicating and understanding human intelligence is a crucial step for AGI to perform tasks such as creativity, empathy, and moral reasoning. Others argue that it is unnecessary and even dangerous, as the actions of a self-aware AGI are uncertain, and it could lead to unintended consequences.

It is important to consider the ethical and moral concerns that arise from the development of AGI with a human-like brain, including the entity’s rights and obligations, and society’s treatment of it. Isaac Asimov, a science fiction author and biochemist, was one of the first to explore these ethical issues in his famous “Three Laws of Robotics” in which he proposed guidelines for the safe and ethical use of robots and AI.

These laws include the prohibition on robots harming humans, the requirement for robots to obey human orders, and the obligation of robots to protect their existence as long as it does not contradict the first two laws.

Asimov’s laws provide a useful framework for considering the ethical implications of AGI, and his work continues to be relevant today as we grapple with the ethical challenges posed by the development of AGI.

It is important for researchers, policymakers, and industry leaders to carefully consider these ethical implications as AGI technology continues to advance and to ensure that AGI systems are developed with a clear understanding of their limitations and potential risks. Therefore, it is important for researchers, policymakers, and industry leaders to carefully consider these ethical implications as AGI technology continues to advance and to ensure that AGI systems are developed with a clear understanding of their limitations and potential risks.

7. The Ethical and Societal Implications of Global Human Consciousness

The concept of a global human consciousness, or a “world brain,” refers to the idea that advancements in technology, particularly AI and the internet, are allowing for the collective intelligence of humanity to be harnessed in a way that has never been possible before.

With the advent of technology like ChatGPT, which allows for easy access to information and the ability to ask questions, it is becoming increasingly possible for individuals to access and share knowledge on a global scale. The world is now aware of what GPT-3 is capable of doing! Imagine what happens when it’s upgraded to GPT-4 and then GPT-10.

ChatGPT A Revolutionary Chatbot that Blurs the Lines between Humans
| ChatGPT: A Revolutionary Chatbot that Blurs the Lines between Humans and Machine

We’ve been told that GPT-4, once completed, would be 500 times more competent than GPT-3. Today, students may use ChatGPT to produce essays, term papers, and even theses. Professors have started utilizing GPT to edit the chapters they have written and even to help with book chapter composition. Every organization can now use GPT to accomplish practically everything, potentially reducing the need for human personnel.

When I look at a new technology that has been invented in our attempts to build an AGI, like ChatGPT, I believe it appears we want to build a “world brain”, which can be used for both good and ill. ChatGPT has an excellent level of human-to-human communication.

It can be as plain as many people usually are in conversations, yet it can also get as technical as others might want. Any question you ask will have an intelligent response, so feel free to ask anything. It can be your research assistant, write essays for you, draw pictures, and write poems for you, and so on. Individuals can now utilize it for free via the internet. It could replace search engines in applications like Google and Facebook and provide all the answers to questions in applications like Quora.

Building a “world brain” is a goal shared by many organizations besides OpenAI. Numerous other research facilities are working to create a world brain, both in the West and in other nations like China and Japan.

They are all doing so, perhaps unwittingly or unconsciously, working to develop systems with narrow domains such as chatbots, language synthesis systems, language generation systems, and deep learning systems. Some of them have the explicit goal of developing AGI. However, the development of a global human consciousness raises important questions about the nature of human identity, agency, and autonomy.

Moreover, there is a societal implication that, if not properly addressed, could lead to a widening of the digital divide and further marginalization of certain groups. Access to and control over information, technology, and resources will be crucial to ensure a fair distribution of benefits and opportunities in the world

8. Africa, AI, and Other Exponential Techs

In all of the above, where is Africa? Why is there a deafening silence on all of the promethean-level technologies in Africa? Why does Africa continue to adopt a “follow-follow” mentality? Why does Africa think that the world is only meant for some others to recreate without its input? Whatever eventually becomes the world, unfortunately, Africa will also be immersed in it.

Africa is so busy with its day-to-day existential issues, along the lines of Maslow’s Hierarchy of Needs, to the point that the business of rethinking the world and our existence is left to others, particularly the conceptual West, to do on behalf of humanity. My concern is that it is only a few in the West, such as the AI intelligentsia, who are trying to recreate the world and human existence.

They seem to have an unspoken agenda, an atheistic agenda, an anti-God agenda, an agenda that wants to build a new Tower of Babel, and, an agenda that wants to create a new version of humanity. Does Africa agree with their agendas?

It is important for Africa to also be a part of these conversations and developments in technology, as it will ultimately affect the continent just as much as any other region. Africa should not be left behind in the shaping of the future, and should actively participate in the rethinking of the world and our existence. It is also important to consider the potential consequences and ethical implications of these technologies and to have a diverse range of perspectives and voices involved in the decision-making process. Furthermore, Africa should also take into account its values and beliefs, and ensure that they are not being overlooked or disregarded in the pursuit of technological advancement.

9. Control and Regulation of AI

The control and regulation of AI refers to the various measures put in place to ensure the safe and responsible use of artificial intelligence technology. This can include guidelines for the development and deployment of AI systems, as well as laws and regulations that govern the use of AI in specific industries or applications.

Some of the key concerns that are addressed through Artificial Intelligence regulation include issues related to privacy, security, and the potential for AI to impact jobs and the economy.

Additionally, there are also ethical concerns related to AI, such as the potential for AI to perpetuate bias or make decisions that negatively impact certain groups of people.

Several guidelines have been proposed for the development and deployment of Artificial Intelligence systems, including explainability and transparency, fairness and non-discrimination, human oversight, safety and robustness, privacy and security, continuous monitoring and improvement, accountability, human rights, societal and environmental well-being, and human-centred values.

These guidelines aim to ensure the safe and responsible use of AI, but there is no one regulatory body overseeing their implementation.

There are currently a limited number of laws and regulations specifically governing the use of AI, but as the technology continues to advance and its impact on society becomes more significant, more laws and regulations are likely to be developed.

Some examples of existing laws and regulations that govern the use of AI in specific industries or applications include:

  • Health Care: The US Health Insurance Portability and Accountability Act (HIPAA) regulates the use of AI in healthcare by protecting the privacy and security of patient data.
  • Finance: The General Data Protection Regulation (GDPR) in the European Union regulates the use of AI in finance by protecting the privacy and personal data of individuals.
  • Autonomous vehicles: The National Highway Traffic Safety Administration (NHTSA) in the US has issued guidance on the safe testing and deployment of autonomous vehicles, which includes requirements for data recording and sharing, cybersecurity, and human oversight.
  • Employment: Many countries have laws that prohibit discrimination in the workplace, which can apply to AI systems used in the hiring process or the management of employees.

These are just a few examples, regulations may vary from country to country, and it is important to keep in mind that laws and regulations are always changing as technology advances and society’s understanding of it evolves.

10. Conclusion

As Artificial Intelligence (AI) continues to evolve, it is expected to have a significant impact on how we live and work. Many people look at the development of AI with a positive outlook, I share that sentiment but also with concerns. I believe that it is like opening a box of unknown consequences that humanity will regret. I am worried that there are no worldwide regulations and control systems in place to govern the design, development, and application of AI. Without these, we can’t ensure that AI will be safe for humanity. Moreover, I do not see any significant efforts being put into implementing Asimov’s laws of robotics, which could be used to ensure safety features are built into AI systems.

The ethical implications of AI must be taken into account by society, and its creation and application must be consistent with human values. This may involve creating regulations and guidelines for the use of AI, as well as investing in retraining programs to assist individuals whose jobs are at risk of being replaced by AI.

Overall, the integration of Artificial Intelligence is a complex issue that requires a thorough understanding of the potential benefits and risks of this technology. It is essential for society to have open and honest conversations about the implications of AI and to collaborate to ensure that its development and use align with human values and promote the well-being of all individuals.

(End)

Evan Woherem, a highly respected industry professional and alumnus of Harvard Business School, wrote in from Abuja, Nigeria

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FG Taking Significant Steps to Position Nigeria in Global Tech Race – Pantami https://techeconomy.ng/fg-taking-significant-steps-to-position-nigeria-in-global-tech-race-pantami/ https://techeconomy.ng/fg-taking-significant-steps-to-position-nigeria-in-global-tech-race-pantami/#respond Wed, 29 Jun 2022 05:24:23 +0000 https://techeconomy.ng/?p=77476 Isa Ali Pantami, a professor of Cybersecurity and the Minister of Communications and Digital Economy, has said that in the last few years, the Federal Government of Nigeria, through the Federal Ministry of Communications and Digital Econony, has been taking significant steps to position Nigeria in the global tech race.

Pantami spoke on Tuesday, in Abuja, while declaring open the 10th Edition of the Digital Africa Conference & Exhibition themed: “Positioning Africa in the Global Tech Race.”

Pantami at Digital Africa
Prof. Pantami cutting the tape to declare open the Digital Africa Conference and Exhibition 2022

He said that the Buhari administration recognised the need for a regulatory environment that supports, rather than stifles development, and has developed a number of policies in this regard.

“Nigeria has a potential critical mass of ‘digital natives’ that can transform the country into a regional and global digital powerhouse.

“These creative Nigerians can play a key role in the creation of digital jobs across all sectors of the country; jobs that are either based on or are dependent upon Information and Communications Technologies (ICTs),” Pantami said.

While noting that the implementation of the National Digital Economy Policy and Strategy (NDEPS) emphasises the importance of the innovation and startup ecosystem to the development of an indigenous digital economy, the Minister pledged that his ministry will continue to position Nigeria to develop this ecosystem to transform the country into a sustainable and thriving digital economy.

He stated that in recognition of the role of emergng technologies and in preparationfor the Fourth Industrial Revolution, the Federal Government is actively building competence in these technologies and have set up a National Centre for Artificial Intelligence and Robotics to serve as the digital laboratory for advancing skills development and innovation in emerging technologies in Nigeria.

“In addition, we are establishing a National ICT Park and a National Digital Innovation Centre to create an atmosphere that would usher in innovation-driven culture among the Nigerian populace,” he said.

Pantami said that for Africa to assert itself in the global tech space, there is need effective collaboration, and insisted that “we must urgently improve international
cooperation and work together towards achieving our national and regional development plans in building the Africa we want.”

While reiterating Federal Government’s commitment to providing the enabling environment required for such partnerships to thrive, he reaffirmed government’s willingness to continued partnerships and forging new ones with industry stakeholders in this regard.

Earlier in his welcome address, Chairman of Digital Africa Limited, organisers of the tech show, Dr. Evans Woherem noted that for a decade, Digital Africa has been an advocate and breeding place of informed debate and independent analysis, on issues to do with tech and Africa, leading to the generation of new, incisive policy proposals.

Pantami at Digital Africa
L-r: Prof Pantami and Dr. Woherem

He said the theme of this year’s conference couldn’t have been more timely and relevant than now, technology is fast evolving at an exponential speed, and is today disrupting almost every industry in all countries of the world.

“Looking carefully at our development myopia and non-progress compared to what is happening in other continents, we can conclude that Africa is currently living in a Matrix Simulation. In other words, we are passing through an Alternate Reality within our Multiverse.

“There are billions of possible realities at any one point in time that applies to an individual, to a society, to a country and even to the whole world. I believe that it is an alternate reality that we are experiencing here in Africa. This is not the reality we started out with.

Pantami at Digital Africa
Pantami on tour of exhibition stands at Digital Africa

“I believe somewhere along the line of our evolutionary trajectory and paradigm, something flipped, leading to an inflexion point that took us to an alternate reality. even when some other parts of the world continued with their original reality,” he said

Woherem expressed confidence that even in this present reality, Africa should muster enough will power to begin to do the right things, so that it can go back to its mis-aligned reality.

“We have to see it as a challenge to get Africa back to its historical standing, embrace the right mentality to move Africa forward, and shun any negativity that have hampered Africa’s growth. We can reposition Africa!”

The opening ceremony was also used to honour some corporate organisations that have over the years supported the Digital Africa Conference & Exhibition.

The companies include VDT Communications, Chams Access, Africa Data Centre, and Zoracom. 

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