policymakers – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Wed, 29 Apr 2026 12:26:03 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png policymakers – Tech | Business | Economy https://techeconomy.ng 32 32 World Health Summit Regional Meeting 2026 Opens in Nairobi https://techeconomy.ng/world-health-summit-regional-meeting-2026-opens-in-nairobi/ https://techeconomy.ng/world-health-summit-regional-meeting-2026-opens-in-nairobi/#respond Wed, 29 Apr 2026 12:26:03 +0000 https://techeconomy.ng/?p=180750 The World Health Summit Regional Meeting 2026 officially opened today in Nairobi, bringing together over 2000 global health leaders, policymakers, researchers, and development partners to advance solutions for stronger and more resilient health systems.

The opening day marked a significant moment for global health cooperation, with high-level discussions focusing on strengthening health systems resilience, advancing universal health coverage, and accelerating practical solutions to emerging health challenges.

Discussions will be guided by the theme, ‘Reimagining Africa’s Health Systems: Innovation, Integration and Interdependence.’

Hosted by the Aga Khan University (AKU) and held in partnership with the World Health Organization, the Ministry of Health Kenya, and the Africa Centres for Disease Control and Prevention, the meeting will feature over 80 sessions focused on strengthening health systems resilience, advancing universal health coverage, and accelerating innovation in global health.

The summit was officially opened by William Ruto, Kenya’s President, who underscored the urgent need for a decisive shift in how Africa is positioned within the global health architecture, calling on African health institutions, governments, donor agencies, and implementing partners to move beyond fragmented approaches and embrace system-wide transformation anchored in ownership, investment, and accountability.

World Health Summit Regional Meeting in nairobi, Kenya
World Health Summit Regional Meeting opening ceremony in Nairobi, Kenya

“This imbalance is neither sustainable nor tenable. It calls for a decisive and deliberate shift—from fragmented, piecemeal interventions to comprehensive, system-wide transformation anchored in coherent strategy, financed through both domestic and international capital, and sustained by strong governance and accountable institutions. At the same time, Africa possesses unique advantages that must be fully harnessed… which together position the continent as a source of scalable solutions rather than a repository of persistent challenges.” – President William Ruto.

Speaking during the opening session, leaders emphasized that the Nairobi meeting represents an opportunity to move beyond dialogue and toward coordinated action.

“The World Health Summit Regional Meeting in Nairobi reflects the growing importance of Africa in shaping the global health agenda,” said Prof. Axel Pries, president of the World Health Summit. “Our role is to convene leaders from across sectors and regions, and the goal is clear: to translate dialogue into practical action that strengthens health systems regionally worldwide.

“For too long, Africa has been the subject of global health discussions held elsewhere, by others. Today, with delegates from more than 50 countries gathered on African soil, we are asserting something fundamental: that African institutions, African researchers, and African policymakers are not consumers of global health policy, we are its co-authors. This Summit will move us from the language of intention to the architecture of implementation,” Prof Lukoye Atwoli, international president, WHSRM and Dean, Medical College East Africa, at AKU.

“Challenges do remain … — climate change, chronic diseases, lack of financial resources, the digital divide, inequity and others that we will have to overcome – but I see a sector [in Africa] more capable than ever: better positioned to integrate systems, harness technology, and train the workforce needed for quality care and ethical leadership,” said Dr. Sulaiman Shahabuddin, president and vice chancellor, Aga Khan University.

For the World Health Organization (WHO), the discussions reinforced the importance of scaling proven approaches to universal health coverage through strong primary health care systems.

“This Summit marks a historic first and offers the kind of collaboration required to meet the challenges of the moment,” said Dr. Mohamed Yakub Janabi, WHO regional director for Africa. “The themes being discussed are deeply interconnected and will result in a blueprint for a new Africa that reflects a shift from addressing individual challenges to building a coherent health ecosystem.”

Kenya highlighted the significance of hosting the meeting as both a diplomatic and policy milestone.

“Global health security is not a luxury; it is a prerequisite for national stability. We must move from reactive crisis management to proactive pandemic preparedness,” said Mary Muthoni, Principal Secretary Public Health & Professional Standards

The Africa Centres for Disease Control and Prevention emphasized the growing role of African institutions in shaping the continent’s health security agenda.

World Health Summit Regional Meeting in Kenya
World Health Summit Regional Meeting

“Africa’s health security and sovereignty depend on our ability to finance and build resilient systems at scale,” said  Dr. Jean Kaseya, director general of the Africa Centres for Disease Control and Prevention.

“The World Health Summit Regional Meeting in Nairobi provides a critical platform to move from dialogue to action, mobilizing investment, strengthening partnerships, and advancing African-led solutions that reduce dependency and expand access to quality health care.” Academic and research leadership was also highlighted as central to advancing evidence-based solutions.

As the meeting continues in Nairobi, leaders reaffirmed the importance of multilateral cooperation and shared responsibility in strengthening health systems and improving health outcomes globally.

The World Health Summit Regional Meeting 2026 continues over the coming days with further discussions expected on health financing, workforce development, digital health innovation, and climate and health.

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Integrated Risk Strategy is the Missing Link in SME’s Growth Story in Africa https://techeconomy.ng/integrated-risk-strategy-is-the-missing-link-in-smes-growth-story-in-africa/ https://techeconomy.ng/integrated-risk-strategy-is-the-missing-link-in-smes-growth-story-in-africa/#respond Mon, 23 Mar 2026 13:26:23 +0000 https://techeconomy.ng/?p=178294 Small and medium-sized enterprises (SME) are steadily gaining traction in digital finance, rapidly claiming their position as the backbone of economic growth.

However, industry analysts indicate that despite the positive outlook, risk literacy remains a persistent challenge.

According to risk management experts, EIRS, this represents a gap that may be holding back the very financial inclusion that promises to uplift these important engines of job creation and innovation across Africa and the Middle East.

SMEs constitute an overwhelming majority of firms in the Middle East and North Africa, about 96% of registered companies and roughly half of employment, yet they receive just 7% of total bank lending, among the lowest globally.

In sub-Saharan Africa, SMEs often find themselves starved of capital, with many reporting limited access to loans or credit lines and enduring high borrowing costs that dwarf those in more developed markets.

Digital finance growth

The digital finance revolution, powered by mobile money, e-lending, and embedded financial services, has unlocked new avenues for inclusion. Digital solutions tailored for SMEs are growing rapidly, with fintech adoption rising across the region with digital platforms designed for business invoicing recording positive uptake in 2024. However, access is only part of the puzzle.

“What we’re seeing is that SMEs can reach digital finance solutions, but many still can’t use them effectively. Risk literacy, understanding credit, insurance, cash-flow dynamics and digital finance mechanisms, is the missing bridge between access and sustainable growth,” noted Abhishek Jain, chief executive officer, EIRS.

This gap has real business impact. While digital payment adoption in some markets is high, for example, 91% of Kenyan SMEs now use digital payments, many still lack the financial and risk acumen to leverage that access into credit worthiness, scalable lending, or meaningful insurance coverage.

Risk literacy is key

Across the region, the potential of SMEs remains high but despite their significant contribution to employment in Africa, they still face a persistent financing deficit. Without risk comprehension, lenders often view these enterprises as high-risk or unbankable.

Even in markets where mobile fintech adoption is strong, understanding remains uneven. Financial literacy enhances adoption with research showing that numerically and digitally literate SME owners are substantially more likely to adopt mobile banking, which in turn, improves their financial outcomes.

This dynamic illustrates why risk literacy, not just access, is the linchpin to inclusive finance.

Financial inclusion and risk literacy aren’t merely aspirational goals; they can concretely improve macroeconomic performance. Based on the IMF analysis, closing financial inclusion gaps could boost annual growth rates by up to 1% over the medium term in SME-dependent regions.

According to Abhishek, the conversation must shift from access to competence. “Policymakers, fintechs and financial institutions need to embed education into the SME onboarding process,” he noted. “When entrepreneurs comprehend risk, and can articulate it, lenders respond with capital, insurers design appropriate products, and ecosystems flourish.”

When risk literacy is elevated to strategic priority, SMEs may finally unlock their potential. And for the millions of entrepreneurs across the MEA region, understanding risk could be the key that turns inclusion into sustainable success.

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Nigeria’s 2026 Tax Reforms and its National Significance https://techeconomy.ng/nigerias-2026-tax-reforms-and-its-national-significance/ https://techeconomy.ng/nigerias-2026-tax-reforms-and-its-national-significance/#respond Wed, 31 Dec 2025 15:24:45 +0000 https://techeconomy.ng/?p=173430 As we step boldly into the first hours of 2026, it is important to speak with clarity and conviction about one of the most consequential economic transformations in our nation’s recent history.

Nigeria’s new tax reform framework, comprising the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service Act, and the Joint Revenue Board Act, has officially taken effect.

This reform is not a routine policy update. It is a structural reset that will shape the future of our economy, our institutions, and the prosperity of our people.

For decades, Nigerians have endured a fragmented, confusing, and often unfair tax environment. Salary earners carried the heaviest burden.

Small businesses struggled under multiple taxation. Agencies operated in silos. Compliance was difficult, and trust in the system was weak.

The 2026 tax reform finally breaks that cycle. It introduces a simpler, fairer, more transparent, and digitally aligned fiscal architecture that reflects the realities of a modern economy.

This reform is intentionally pro‑citizen. For the first time in many years, low‑income Nigerians are fully protected.

Anyone earning ₦800,000 or less annually is now exempt from personal income tax. Millions of households will feel immediate relief.

Disposable income will rise. Families will breathe easier. This is a decisive step toward fairness and social protection at a time when many are battling economic pressure.

The reform also replaces the old, opaque tax bands with a clearer and more understandable structure. Nigerians can now know exactly what they owe and why.

This transparency is essential for rebuilding trust between citizens and the state. More than fifty exemptions and reliefs have been embedded to support families, students, pensioners, and vulnerable groups. This is taxation with a human face, designed to empower, not to punish.

Our micro, small, and medium‑sized enterprises, long the backbone of Nigeria’s economy, are major beneficiaries.

The era of multiple taxation is being dismantled. Compliance is now simpler, predictable, and digitally enabled. MSMEs can finally focus on growth, innovation, and job creation instead of navigating endless levies. This is how nations build strong middle classes and resilient economies.

Ethiopia’s Dashen Bank Partners Accion, Mastercard to Connect MSMEs to Digital Solutions | Moniepoint | Informal Sector

Corporate Nigeria also stands to gain. A predictable, harmonised tax environment boosts investor confidence. I

t signals stability. It attracts capital. It strengthens Nigeria’s position within the African Continental Free Trade Area and the global digital economy. When businesses can plan with certainty, they invest with courage.

Government agencies are equally strengthened. The reform unifies tax administration, reduces duplication, and enhances accountability.

Digital systems will minimise leakages and corruption. Revenue will flow more efficiently. Policymakers will have better data for decision‑making. A modern economy requires modern institutions, and this reform provides the foundation.

The broader national impact is profound. Increased household spending will stimulate economic activity. MSME expansion will drive employment. Improved revenue efficiency will support infrastructure, education, healthcare, and national development.

A broader and fairer tax base will reduce our dependence on oil and place Nigeria on a path of long‑term fiscal sustainability.

This is the kind of reform that aligns with the demands of the Digital Age. It supports innovation. It encourages digital adoption. It strengthens financial inclusion. It positions Nigeria to compete, not just participate, in the global economy.

As a nation, we must now ensure that this reform is implemented with integrity, transparency, and discipline. The laws are strong.

The framework is sound. The intention is clear. What remains is faithful execution. Every agency, every business, every citizen has a role to play in ensuring that this reform delivers its full promise.

Nigeria stands at the threshold of a new fiscal era, one that is fairer, smarter, more inclusive, and more aligned with the future we must build.

The 2026 tax reform is not merely a policy shift; it is a national opportunity. If we embrace it with seriousness and unity, it will become one of the most transformative economic interventions in our democratic journey.

This is the moment to move forward with confidence.

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Showcase Your MVP and Compete for $10,000 at MarkHack 4.0 https://techeconomy.ng/showcase-your-mvp-and-compete-for-10000-at-markhack-4-0/ https://techeconomy.ng/showcase-your-mvp-and-compete-for-10000-at-markhack-4-0/#respond Fri, 28 Mar 2025 17:00:08 +0000 https://techeconomy.ng/?p=155811 MarkHack 4.0 is back and is set to create the ultimate platform for startups ready to disrupt the media, marketing, and technology industries.

MarkHack is Nigeria’s first-ever marketing and media conference, designed as a collaborative gathering of innovators, entrepreneurs, policymakers, media practitioners, and marketing professionals.

This dynamic event aims to create impactful solutions to real-life challenges in the marketing and media sectors within two months.

This year, MarkHack 4.0 is offering an impressive $10,000 prize pool. Within this pool, startups will compete for cash prizes, AWS credits, cutting-edge laptops, and exclusive perks from top tech partners.

Participants will have the unique opportunity to present their MVPs before a panel of leading investors and industry decision-makers. Such exposure can lead to critical funding, partnerships, and mentorship which is very important for a startup’s success.

This application is exclusively open to startups, providing them with a unique opportunity to showcase their Minimum Viable Products (MVPs) that possess the potential to transform their respective sectors. By participating in MarkHack 4.0, startups stand to gain invaluable exposure, access to industry leaders, and a chance to secure funding that can propel them into the next phase of growth.

This year’s theme, “Experience Ignited: Fueling the Consumer Journey,” promises to explore the transformative power of technology in reshaping how brands connect with consumers.

MarkHack 4.0 will feature exhibitions that highlight the latest innovations and provide invaluable networking opportunities, bringing together thought leaders, investors, and entrepreneurs from across the industry.

MarkHack 4.0 redefines how startups innovate and scale by offering a comprehensive platform that integrates immersive education, strategic pitching, and the thrilling dynamics of a hackathon—all crafted to drive real-world impact in the fields of media, marketing, and technology.

Participants can look forward to a stellar lineup of sponsors, jurors, and speakers, including visionary leaders in media, marketing, and technology, as well as renowned tech entrepreneurs who are shaping the digital landscape and key industry players providing expert insights into the future of marketing.

Startups that wish to participate in the competition must go through an application process leading up to the grand finale.

Startups that apply will have the opportunity to pitch during the virtual session taking place from May 7th to 11th, 2025. Also mentors will be available from April 23rd to May 14th to provide guidance and support throughout the process.

The workflow will involve submitting an application via the designated platform, where each startup’s MVP will be evaluated based on its innovation, scalability, and market relevance.

Once the initial selection is made, the shortlisted startups will prepare for pitches that will showcase the unique value propositions of their products.

The grand finale will take place on Friday, May 23rd, 2025, at 9:00 AM WAT at the Landmark Event Center, Victoria Island, Lagos. It promises to be a day filled with innovation, networking, and the potential for transformative business growth.

MarkHack 4.0 also prioritizes the growth and development of participating startups. Through hands-on mentorship and strategy sessions, participants will receive guidance from experts who are deeply entrenched in the world of innovation.

This kind of support ensures that each startup is positioned to thrive within the competitive landscape of their industry.

Furthermore, participants will have access to incubator programs and high-impact workshops designed to refine their business strategies and scale their operations effectively.

The networking opportunities at MarkHack 4.0 are unparalleled, allowing founders to connect with visionary leaders, tech innovators, and like-minded disruptors who share a passion for transforming industries.

The future of your startup starts here at MarkHack 4.0. If your MVP is ready to make a significant impact, this is the moment to shine. Don’t miss the chance to showcase your startup, pitch to top investors, and compete for a share of the $10,000 prize pool.

  • Application Deadline: March 29th, 2025
  • Apply now at the link here
MARKHACK 4.0 Application
MARKHACK 4.0 Application

Join the team at MarkHack 4.0, where innovation meets opportunity, and take the first step towards transforming your startup’s future!

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Report: AI Innovations Can Create a Thriving Labour Market for Africa’s Youth https://techeconomy.ng/report-ai-innovations-can-create-a-thriving-labour-market-for-africas-youth/ https://techeconomy.ng/report-ai-innovations-can-create-a-thriving-labour-market-for-africas-youth/#respond Thu, 05 Dec 2024 12:05:12 +0000 https://techeconomy.ng/?p=148883 Leading research and advisory firm, Caribou Digital, in partnership with the Mastercard Foundation, has today released a new report titled; The Role of AI Innovation Clusters in Fostering Youth Employment in Africa: Opportunities, Challenges, and Implications.  

The report offers insights on what role Artificial Intelligence (AI) innovation can play in addressing Africa’s persistent youth unemployment challenges and shaping a more prosperous future for the continent’s workforce.

The report makes a compelling call for a unified and strategic approach from governments, academia, Big Tech, and investors to cultivate and transform Africa’s AI ecosystem.

In 2020, 60% of Africa’s population was under 25 and its tech-savvy youth population is set to double by 2030, making up 42% of the world’s youth.

This represents a significant opportunity to expand Africa’s tech talent pool, create broad-based jobs within the AI industry, and drive economic growth.

Africa’s AI ecosystem is home to more than 127 hubs with South Africa hosting the largest concentration (22%), followed by Nigeria (12%), Egypt (12%), and Kenya (10%) all of which play instrumental roles in overcoming barriers and accelerating economic and talent development.

The report highlights six components of a cluster driving AI innovations in Africa: grassroots AI communities, academia, human capital, policymakers, Big Tech, and investors.

Among them, grassroots AI communities comprising data scientists and AI professionals have emerged as a strong nucleus for Africa’s AI landscape.

Groups like Data Science Africa, Deep Learning Indaba, and Data Science Nigeria are shaping the future by building skills, showcasing African AI research globally, attracting investments, and creating jobs.

The communities bring people and ideas together, connecting local talent with global opportunities, from international events to everyday WhatsApp chats, sparking growth and innovation across the continent.

Using both qualitative and quantitative methods to uncover key insights, it is assessed that while the grassroots initiatives remain critical in bridging the continent’s AI skills gap, offering upskilling opportunities and job placements, limited resources constrain their potential.

This highlights a collective drive by all components of innovation clusters is essential to advance a thriving ecosystem.

To achieve this, the report offers the following recommendations:

  • Academia should expand AI programs, train more professors, and align university curricula with industry needs.
  • Policymakers and African governments should develop comprehensive national AI strategies that balance innovation with ethical safeguards.
  • The government should also prioritise infrastructure development such as reliable electricity, affordable internet, and better data access to support AI growth.
  • Big Tech should foster fair partnerships that empower local ecosystems, prioritize knowledge transfer, and protect data sovereignty.
  • Investors should diversify funding beyond health and agriculture to unlock AI’s potential in other critical sectors like education and financial inclusion.
  • Donors should invest heavily in human capital development initiatives, particularly those focused on youth employment. They fund training programs, scholarships, and fellowships that aim to build a pipeline of skilled AI professionals.

Commenting on the report, Abbie Phatty-Jobe, research & engagement manager at Caribou Digital, said:

“Artificial Intelligence, harnessed collaboratively, has the power to positively shape the African employment landscape and boost the economy. In collaboration with our research partners, we have explored  emerging  clusters within the distinct context of Africa to address critical challenges and accelerate development; their success depends on a collective strategic approach that tackles inclusivity, and targeted investment in local talent and infrastructure. By empowering grassroots communities, strengthening academia-industry ties, and fostering equitable partnerships, we can build an AI ecosystem that truly reflects Africa’s unique strengths and aspirations.”

Speaking about the key role of grassroots communities in driving innovations, Wadzi Comfort, a researcher and digital economy expert, said

“The emergent AI innovation clusters across Africa showcase remarkable ingenuity and potential in the face of scarce resources. Tech-savvy, motivated young people; – our greatest asset emerging from Africa’s youth population boom; are spearheading local AI-powered solutions to address local challenges, demonstrating exceptional agency and creativity. These innovations span a wide spectrum, including AI-powered diagnostic tools, Informal educational academies, Large Language Models (LLMs) in local languages, community-driven knowledge sharing platforms and collaborative tech convenings. These youth-driven initiatives and their innovators merit substantial support and resources to accompany their agency, and foster their growth and impact.”

Private investors, African governments, and donors not only provide crucial financial resources but also shape the direction of innovation by prioritising specific areas of investment.

Venture capital for DeepTech startups has soared from $86 million in 2015 to $1.2 billion in 2023, with over 300 investors—65% based in Africa—and 127 innovation hubs driving growth.

Key government initiatives, like Nigeria’s AI Research Scheme and South Africa’s AI Institute, alongside philanthropic support from the Mastercard Foundation and Bill & Melinda Gates Foundation, will keep creating an environment that addresses local challenges, drives innovation, and positions Africa at the forefront of AI technology.

The report employs the snowball research method to conduct in-depth interviews with 25 African AI experts, including policymakers, educators, and industry leaders, uncovering the state, challenges, and opportunities for AI innovation clusters.

It also highlights insights from 18 young tech professionals involved in AI or tech fields from Zindi, Africa’s largest data science community, on their skills, job prospects, challenges, and AI’s impact on employment.

Additionally, the report includes a comprehensive review of academic studies, policy documents, and reports on AI, innovation clusters, and youth employment across Africa.

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