As business and political dignitaries gather for their annual retreat at the World Economic Forum (WEF) meeting in Davos, they will have the opportunity to engage in discussions and negotiations regarding an African continent that many analysts view as having vast untapped potential. Despite its challenging past, Africa’s human and natural resources have garnered the interest of global investors who recognize that solutions to numerous worldwide issues—such as climate change, energy transitions, and demographic shifts—might well be found within the continent.

This concept is central to Africa House, which will be making its fifth appearance at the WEF in January 2025. Mamadou Toure, co-founder of Africa 2.0, the think tank behind the initiative, points out that their mission is to rectify the oversight that Africa has faced in global discussions, despite its considerable potential. “We believed the continent wasn’t given the importance it deserves in international dialogues and decision-making. Hence, we felt a responsibility to address this. It is fundamentally a civil society initiative,” he elaborates, underscoring that while other nations have had similar representations at Davos for many years, Africa had remained largely unheard.

Africa House serves as a dedicated forum for Africa-centered conversations and initiatives.

“It’s a venue where we can not only hold open dialogues but also engage in constructive discussions about the future direction of the continent and its relationship with the global community,” Toure remarks.

And there is a plethora of topics to address, as he points out.

“For instance, the African Continental Free Trade Area represents the largest single market globally today. This should not be overlooked. By 2050, seven out of ten children born on Earth will be Africans, and the continent’s population is projected to reach 2 billion. As we think about the future, the crucial question becomes: how do we spark conversations that lead to concrete actions and deliverables?”

Africa House aims to be a space for honest and heartfelt discussions about Africa, a platform where public and private sector leaders can collaboratively shape the continent’s future.

Leapfrogging technological stages

Toure is notably optimistic about the continent’s potential, citing its history of technological leapfrogging and regional integration as proof of what Africa can achieve through coordinated efforts and smart investments. As global technology continues to advance, Toure expresses concern that Africa is being overlooked in these discussions, despite its successes in harnessing technology.

“We are aware of how Africa jumped straight to mobile technology, bypassing fixed-line telecommunications. This shift had a transformative effect on the continent. There is a distinct correlation between the introduction of GSM and Africa’s GDP growth,” he states.

In a similar vein, Africa could potentially bypass several generations of energy technology to establish systems that are better equipped to meet its demands.

“Is it necessary to replicate existing models? Perhaps a decentralized approach featuring smart mini grids, enabling communities to independently generate their own energy, could be more beneficial for Africa,” he reflects.

Africa House, he emphasizes, aspires to be the platform where these essential conversations take place and actionable initiatives are launched.

This year, Africa House is teaming up with the Pax Technologica initiative and will host the hip-hop artist will.i.am, who is also an investor in technology. This focus aligns perfectly with the central theme of this year’s WEF meetings, emphasizing that technology is at the forefront of the discussions.

Toure believes a key takeaway from recent global upheavals is that Africans must take control of their own destinies. In a world that’s increasingly unstable with shifting power dynamics, Africa needs to recognize that it can no longer rely on outdated systems and traditional methods. For example, he notes that Africans living abroad send nearly $100 billion home each year, eclipsing aid from governments and multilateral organizations in developed nations. Therefore, Africa needs to explore new avenues to leverage its diverse assets to drive prosperity rather than depend on external assistance.

Reconsidering the continent

Among these discussions will be an examination of the negative perceptions surrounding Africa that can discourage investors and result in a risk premium for African borrowers. Toure is deeply troubled by this issue and has organized a dedicated session to explore it.

“We are inviting media leaders from Africa and beyond to engage in this dialogue. Unfortunately, perception shapes reality, and risk is fundamentally perceived.”

While Africa enjoys lower default rates compared to other continents, attracting financing for infrastructure projects remains a challenge. Toure proposes that seeking local currency financing might help “mitigate exposure to currency shifts.”

Africa 2.0 prides itself on being more than just a think tank that produces reports and advocates for policies; it actively seeks to implement its ideas, with Africa House being central to that mission. Toure points out that previous events have successfully united continental leaders and business figures, resulting in significant partnerships, many of which have yielded tangible outcomes.

However, he acknowledges that success largely depends on the stakeholders involved rather than Africa House, which merely serves as a facilitator of these interactions.

“We orchestrate, we facilitate, we inspire, and we direct towards a shared goal. Our role is to ensure that Africa’s voice and perspectives are represented on the global stage. However, we allow the stakeholders to determine the course for Africa’s future. Our experience shows that when processes become overly centralized, progress tends to stagnate.”

Natural wealth

In at least one area, Toure is an active participant.

“Africa’s natural resources are valued at over $100 trillion. Innovative models rooted in Web3, blockchain technology, and artificial intelligence enable the tokenization of these assets,” he states.

Toure believes that technologies like tokens can assist in monetizing and enhancing the value of Africa’s resources.

Breaking away from traditional methods is a frequent theme for Toure. Whether it’s about financing the continent, generating employment, or leveraging its assets, he passionately advocates for new methodologies and envisions that Africa House can incubate these ideas. He asserts that the upcoming 2025 event will unveil some of these new strategies, hinting at groundbreaking announcements at Africa House, including innovative technological and investment partnerships.

“This is where Africa House intends to distinguish itself from many other platforms,” he concludes.