1 00:00:00,450 --> 00:00:07,300 And she also just there as dean of the Faculty of Science and later as a pro vice chancellor. 2 00:00:07,300 --> 00:00:12,310 Those of you who know how to do that, of course, you have another career, a political career. 3 00:00:12,310 --> 00:00:18,550 She served as the sixth president of Mauritius from 2015 to 2018 and being the first woman 4 00:00:18,550 --> 00:00:24,280 elected as president of Mauritius and the first female Muslim president of the continent. 5 00:00:24,280 --> 00:00:27,280 So we're really honoured to have you here. 6 00:00:27,280 --> 00:00:36,070 She's done a lot of other jobs, including serving as a chairperson for International Council for Scientific Union Regional Office for Africa. 7 00:00:36,070 --> 00:00:43,840 And she's really received numerous awards. The latest being yesterday when I sure to say something about that. 8 00:00:43,840 --> 00:00:50,980 Some of them include the L'Oreal UNESCO's Award for Women in Science and the African Union Award for Women in Science. 9 00:00:50,980 --> 00:00:58,630 Throughout her career, both in politics and in academia, she's been a passionate advocate for African science and innovation, 10 00:00:58,630 --> 00:01:02,440 and she's particularly a champion for African women in STEM. 11 00:01:02,440 --> 00:01:09,190 And so for me, as an African woman, it's particularly really honoured to welcome you to Oxford today, 12 00:01:09,190 --> 00:01:13,810 and it's a really great pleasure for our folks and for the Africa Study Centre to invite you 13 00:01:13,810 --> 00:01:19,390 to give us a talk on driving Africa's prosperity through sustainable and innovative practises. 14 00:01:19,390 --> 00:01:37,650 Please join me in welcoming. Good afternoon. 15 00:01:37,650 --> 00:01:45,270 Friends, ladies and gentlemen, your students. Good evening, good afternoon. 16 00:01:45,270 --> 00:01:53,820 When I received this invitation from him to address this meeting of buffers, I immediately said yes. 17 00:01:53,820 --> 00:02:02,850 When I mentioned to my daughter that was going to Oxford, she also immediately said yes. 18 00:02:02,850 --> 00:02:04,710 So she's here with me. 19 00:02:04,710 --> 00:02:16,500 Hosting such an event is an indication and a reaffirmation of Africa's prosperity matters and that we all share a common destiny. 20 00:02:16,500 --> 00:02:23,610 Common problems, ideals and values. And we have a commonality of purpose. 21 00:02:23,610 --> 00:02:35,320 Such forum provides an excellent platform to reflect on the challenges and how they would impact the dynamics of an emerging African continent. 22 00:02:35,320 --> 00:02:44,470 These issues are also being seen from the vantage point of young people and in a context where the continent is 23 00:02:44,470 --> 00:02:54,160 forecasted to become the youngest and also the second fastest growing markets over the next 10 to 12 years. 24 00:02:54,160 --> 00:03:04,030 It is also agreed that globalisation, the integration of global markets with the resulting shifts in political economic forces, 25 00:03:04,030 --> 00:03:06,730 along with the advent of new technologies, 26 00:03:06,730 --> 00:03:19,530 particularly vital technologies informatics will continue to bring fundamental changes in both national and international trade and exchanges. 27 00:03:19,530 --> 00:03:31,440 Ladies and gentlemen, the past decade has been tremendous time for innovation, technological and industry disruption seem to be accelerating. 28 00:03:31,440 --> 00:03:39,950 Digital information networks are linking individuals, organisations and nations like never before. 29 00:03:39,950 --> 00:03:50,120 The advance of artificial intelligence is creating even more innovation proportionate is for scientists and leaders alike. 30 00:03:50,120 --> 00:04:01,010 In an increasingly globalised world, innovation is fast becoming a key differentiating feature that can define long term business success, 31 00:04:01,010 --> 00:04:06,920 in turn leading to economic growth and hopefully job creation. 32 00:04:06,920 --> 00:04:13,190 It is with no surprise that we find that the world's biggest economy, the United States, 33 00:04:13,190 --> 00:04:21,770 has put a very high premium on science for achieving different economic and social goals. 34 00:04:21,770 --> 00:04:29,480 Why we are awed by what new technologies can do and have the potential to do in improving our daily lives. 35 00:04:29,480 --> 00:04:34,190 We must always be mindful of the impacts on jobs. 36 00:04:34,190 --> 00:04:42,980 Naturally, such changes will lead to a revolution in doing business science research and development, 37 00:04:42,980 --> 00:04:49,740 and with great emphasis on the intellectual property and the IP landscape. 38 00:04:49,740 --> 00:05:00,970 Ladies and gentlemen. Intellectual property, on the other hand, plays a major role in enhancing competitiveness of technology based enterprises. 39 00:05:00,970 --> 00:05:11,860 Whether such enterprises of commercialising new or improved products or providing services on the basis of a new or improved technology, 40 00:05:11,860 --> 00:05:24,290 according to the World Intellectual Property Organisation Wipro in 2018, China remains the main driver of global growth in IP filings. 41 00:05:24,290 --> 00:05:37,070 The paradox is that Africa in 2017 has been the recipient of only approximately 0.5 percent of the world's patent filings, 42 00:05:37,070 --> 00:05:43,690 just under 15000 out of the global applications of over two million. 43 00:05:43,690 --> 00:05:52,740 Asia, for comparison, received sixty five point one percent of all patents application filed worldwide. 44 00:05:52,740 --> 00:05:58,800 So the continent pays more in terms of IP revenues that it earns. 45 00:05:58,800 --> 00:06:07,220 These figures, therefore should help us gauge the crucial importance of IPR. 46 00:06:07,220 --> 00:06:08,700 Ladies and gentlemen. 47 00:06:08,700 --> 00:06:18,930 For Africa to sustain the growth momentum and indeed force people to harness the benefits through long term improvement of quality of life, 48 00:06:18,930 --> 00:06:30,030 we need to rethink the definition of innovation. Formulate supportive policies do include all proprietary assets IPPs copyrights, trademarks, 49 00:06:30,030 --> 00:06:37,140 formal and informal to include registry and valuation of unique African assets. 50 00:06:37,140 --> 00:06:44,310 IP regimes have wide ranging socio economic, cultural, technological and political impacts. 51 00:06:44,310 --> 00:06:50,840 That's one. There is an imperative need for public policy debates, coordination, 52 00:06:50,840 --> 00:06:57,740 integration and the involvement of all stakeholders in order to free new ways to foster the development 53 00:06:57,740 --> 00:07:06,260 of intangibles and to promote innovation and creativity in the rapidly evolving new ecosystem. 54 00:07:06,260 --> 00:07:14,300 The strong IPR regime provides incentives for producers or researchers to develop new products and technologies. 55 00:07:14,300 --> 00:07:25,570 But government support is needed. Ladies and gentlemen, to be able to understand how innovative practises can drive growth in business. 56 00:07:25,570 --> 00:07:32,380 Let us look at a country like China and whose economy has been driven by innovative practises. 57 00:07:32,380 --> 00:07:40,460 As this global view was set, the stage for what is happening or can hopefully happen in Africa. 58 00:07:40,460 --> 00:07:46,520 China has understood the previous drivers of growth will no longer work. 59 00:07:46,520 --> 00:07:52,700 The country has understood that growth has been based on few fundamental factors. 60 00:07:52,700 --> 00:07:59,570 Market oriented institutional reforms, low wages and large working age population. 61 00:07:59,570 --> 00:08:02,600 I think essentially. 62 00:08:02,600 --> 00:08:13,370 Wages has risen and the working age was shrinking after the 2008 global financial crisis, external demand for products was beaten. 63 00:08:13,370 --> 00:08:24,890 Companies in China have tough choices to make move inland for lower wages, outsource or close down or innovate and. 64 00:08:24,890 --> 00:08:32,120 First up to the polls to indicate the net results between 2005 and 2014 has been 65 00:08:32,120 --> 00:08:38,210 covering the following 38 percent annual growth rate and patents granted to China, 66 00:08:38,210 --> 00:08:43,760 more than double that of South Korea and 50 percent higher than the. 67 00:08:43,760 --> 00:08:50,450 Furthermore, spending on research and development in China has risen dramatically over the past 20 years, 68 00:08:50,450 --> 00:08:57,900 exceeding the OECD average, and the share of researchers amongst the population has nearly tripled. 69 00:08:57,900 --> 00:09:02,850 Still, there is room for improvement, despite his higher rate of growth. 70 00:09:02,850 --> 00:09:14,730 China is still behind Japan and the United States, but China has clearly seen the returns of innovation and investing and is investing heavily. 71 00:09:14,730 --> 00:09:22,400 So let us not turn to our continent. Africa. But countries in Africa are much further from the development frontier. 72 00:09:22,400 --> 00:09:34,420 China. So if we go by economic theory, we should be able to gain even more from an investment in adapting and adopting innovation. 73 00:09:34,420 --> 00:09:40,720 Yet investment in research and development are lower in Africa than anywhere else in the world. 74 00:09:40,720 --> 00:09:48,460 Very few countries have invested the required minimum one percent of the GDP in the SDI landscape. 75 00:09:48,460 --> 00:09:57,100 So what is missing? There was addition to the innovation paradox lies in complementarities. 76 00:09:57,100 --> 00:10:06,420 There's a need to do this to be some other factors in place for countries to realise the enormous promise gains from innovation. 77 00:10:06,420 --> 00:10:16,800 If an African firm invest in innovation but cannot import the machines, they need to implement the innovation, then the returns. 78 00:10:16,800 --> 00:10:25,460 If another firm invests in innovation but has insufficient trained workers or engineers to implement it, then returns would be no. 79 00:10:25,460 --> 00:10:34,620 And finally, if the third invest in innovation but lacks the management capacity to take advantage of it, then the returns. 80 00:10:34,620 --> 00:10:45,720 Before China and India really started expanding innovation, it had two years of solid industrial growth and building form stocks on the human capital. 81 00:10:45,720 --> 00:10:54,090 India, for example, one is often reminded of funded Nehru's vision of science and technology of 1958. 82 00:10:54,090 --> 00:11:00,090 Both countries had invested in basic education and growing investment in higher education. 83 00:11:00,090 --> 00:11:09,030 China scores quite well on measures of management. Yet many countries still struggle with each of these events. 84 00:11:09,030 --> 00:11:16,800 Capital and management do not come out to see that they are dependent on some solid underlying economic policies. 85 00:11:16,800 --> 00:11:23,820 The cost of doing business. The protection of intellectual property, trade policies, amongst other factors. 86 00:11:23,820 --> 00:11:27,900 The returns to innovation are therefore dependent on all these factors. 87 00:11:27,900 --> 00:11:36,030 And for us to increase innovation capacity, we can invest in at least three of the aspects of innovation policies. 88 00:11:36,030 --> 00:11:44,280 First, we look into the managerial and organisational capabilities in line with Joseph Peters prediction. 89 00:11:44,280 --> 00:11:48,750 Collaborative projects with high performing countries would be good start. 90 00:11:48,750 --> 00:11:58,620 The second step involves the building of technological capabilities so that countries may adapt and create more of their own innovations. 91 00:11:58,620 --> 00:12:04,360 The third step involves investing long term integration programme. 92 00:12:04,360 --> 00:12:13,980 African countries need to invest in all three. Ladies and gentlemen, there are good examples of innovation in Africa. 93 00:12:13,980 --> 00:12:25,080 Mobile money has been a good example whereby people with a mobile phone can deposit, transfer or withdraw funds without even having a bank account. 94 00:12:25,080 --> 00:12:32,610 Countries like Kenya and Tanzania were the two countries that really saw a rapid rise in mobile money usage. 95 00:12:32,610 --> 00:12:41,440 Mobile money has had a sizeable economic impact, especially amongst the poor and vulnerable sections of the population. 96 00:12:41,440 --> 00:12:48,920 But what is the IP register? Ladies and gentlemen, for Africa, 97 00:12:48,920 --> 00:12:53,450 which is fast becoming the youngest continents and countries need to start 98 00:12:53,450 --> 00:12:58,850 investing in sectors where they have comparative advantages and create jobs. 99 00:12:58,850 --> 00:13:06,470 A strong manufacturing sector is a good place to start, but we have witnessed only slow growth across the continent. 100 00:13:06,470 --> 00:13:14,420 In low income countries, manufacturing now makes up only about seven percent of what is a weak business environment. 101 00:13:14,420 --> 00:13:19,760 Together with due to high cost suggests that manufacturing may not be the 102 00:13:19,760 --> 00:13:25,490 principal engine of growth on the continent should African economies innovate. 103 00:13:25,490 --> 00:13:31,640 If we look at the pattern of growth on the African continent over the past two decades, 104 00:13:31,640 --> 00:13:38,540 we find that growth has been closely linked to the production and sale of natural resources. 105 00:13:38,540 --> 00:13:50,660 Whether it is oil from Nigeria, Cameroon, copper from Zambia or I am from a natural source of innovation and have been to improve productivity 106 00:13:50,660 --> 00:13:58,440 of these sectors and move up the value chain in close partnership with small and medium enterprises. 107 00:13:58,440 --> 00:14:06,960 One example would have been instead of exporting petroleum products, Nigeria would be making and exporting refined products. 108 00:14:06,960 --> 00:14:13,740 Kenya could be processing and exporting processed foods as opposed to exporting ethanol products. 109 00:14:13,740 --> 00:14:19,020 But that requires innovation and investment in the creation of new technologies, 110 00:14:19,020 --> 00:14:29,940 but also the adoption and adapting of existing technologies for improving those industries again in some parts of Africa is happening in Sudan, 111 00:14:29,940 --> 00:14:31,800 for example in agriculture. 112 00:14:31,800 --> 00:14:41,160 Satellite images are being used to gather information about crop performances and then shared with farmers through their microbes. 113 00:14:41,160 --> 00:14:47,560 In Nigeria, drones are being used to map out areas for potential future rice cultivation. 114 00:14:47,560 --> 00:14:59,800 These innovations integrate new technologies with agriculture, and, in my humble opinion, Africa's most longstanding industry. 115 00:14:59,800 --> 00:15:07,120 Ladies and gentlemen, with China making a film making accounting for a relatively high proportion of investment in Africa, 116 00:15:07,120 --> 00:15:13,810 how can one leverage this partnership into innovative practises? 117 00:15:13,810 --> 00:15:21,880 It is clear that the cost of trade fall when the infrastructure is improved, so the equation is. 118 00:15:21,880 --> 00:15:30,220 This landing in feet can help African nations improve productivity of their industries and move up the value chain. 119 00:15:30,220 --> 00:15:33,200 I can see a win win situation. 120 00:15:33,200 --> 00:15:45,320 So as African nations process is mineral resource at the high level, China can further specialise in technological advances and high level services. 121 00:15:45,320 --> 00:15:51,050 This could lead to enormous opportunities for high tech investments. 122 00:15:51,050 --> 00:16:00,590 China's experience is interesting while investing in processes that allowed labour intensive sectors to increase their productivity. 123 00:16:00,590 --> 00:16:07,460 The country has also invested in sectors where labour quantity is less essential. 124 00:16:07,460 --> 00:16:12,380 And China has become a large producer overall. It has invested in high speed computers. 125 00:16:12,380 --> 00:16:20,720 A new era is dawning when China is the object of intelligence and there will be huge structural transformation in the years to come. 126 00:16:20,720 --> 00:16:28,120 Well, new language and new operating systems will be serving over one billion people. 127 00:16:28,120 --> 00:16:34,660 There are lessons to be drawn from this for African countries with chronic budget constraints. 128 00:16:34,660 --> 00:16:44,800 African countries have focussed on technology adoption, but should they not be thinking of huge technological changes that are facing us and help 129 00:16:44,800 --> 00:16:52,120 us create the technologies of tomorrow with our young talents and voice Kurt Continentally, 130 00:16:52,120 --> 00:16:57,310 we need to understand that research and development is not direction. 131 00:16:57,310 --> 00:16:59,950 It demands long term funding and investment. 132 00:16:59,950 --> 00:17:07,240 Those countries that we recognise this will be at the forefront of development and will be inventing the future. 133 00:17:07,240 --> 00:17:14,650 Africa may not have the same level of domestic savings as China, but if Africa is serious, how do you see innovation? 134 00:17:14,650 --> 00:17:18,250 Policies must join forces to promote trade, 135 00:17:18,250 --> 00:17:25,510 something that the African Union Commission has started and many countries have already ratified the Continental Free Trade Agreement. 136 00:17:25,510 --> 00:17:32,020 Africa must also remove the barriers that slow down the creation of regional managing. 137 00:17:32,020 --> 00:17:42,490 Also, we need to subsume that innovation also means finding some of the time, yet we need to draw the lessons and pick up the source of learning. 138 00:17:42,490 --> 00:17:47,920 Yet Africa does not have its own legal framework. 139 00:17:47,920 --> 00:17:53,980 So, ladies and gentlemen, the innovation, as we all know, is the lifeblood of successful companies, 140 00:17:53,980 --> 00:17:57,250 and not all innovations can be transformed into products. 141 00:17:57,250 --> 00:18:07,270 The entire innovation is the producer of new jobs, whether the labs factory farm using the latest technologies, 142 00:18:07,270 --> 00:18:13,750 with over 11 million graduates landing on the job market every year on the continent. 143 00:18:13,750 --> 00:18:18,860 There is a fierce urgency to rethink our strategy. 144 00:18:18,860 --> 00:18:30,460 And as Peter Drucker has said, innovation is a specific instrument of entrepreneurship, the act that endows resources with new capacity to create. 145 00:18:30,460 --> 00:18:38,840 There's food for thought, you know, African leaders, thought leaders, you must simply agree that my message is very simple. 146 00:18:38,840 --> 00:18:43,830 We simply cannot see yet another generation. 147 00:18:43,830 --> 00:18:48,420 As I close, I would like to thank Kevin Steve for inviting me to share my thoughts. 148 00:18:48,420 --> 00:19:09,300 So now both my daughters, the staff, we can say that we have been witnessing. 149 00:19:09,300 --> 00:19:20,140 So well, because of all of us, thank you so much for the great things for me, and we're really delighted. 150 00:19:20,140 --> 00:19:22,650 Get a chance to do this. 151 00:19:22,650 --> 00:19:32,150 We'll just open up and then have a couple of questions and because time he agrees to be, yeah, let's be as discursive as possible. 152 00:19:32,150 --> 00:19:39,330 If I could encourage that just to kick us off. You did mention a bit about the opportunities for prosperity. 153 00:19:39,330 --> 00:19:44,430 And I'm curious to hear what your thoughts are about. How do we do that while thinking about inequality? 154 00:19:44,430 --> 00:19:47,920 Because a lot of our society is a very clear gap between the rich and the poor. 155 00:19:47,920 --> 00:19:54,570 And many countries that have prospered over the ones, are we looking at the development of being coupled with a lot of social inequalities? 156 00:19:54,570 --> 00:20:03,410 How do we get there without replicating those models? Unfortunately, inequality is fast becoming the new normal. 157 00:20:03,410 --> 00:20:11,990 Across the world, it's not just, you know, it is, it is something that is challenging because if we want to create a social safety net, 158 00:20:11,990 --> 00:20:22,160 for example, for the poorer those who are the rung of the ladder, we need to see to it that precisely these institutions are properly capitalised. 159 00:20:22,160 --> 00:20:29,750 And increasing inequality as we see it these days will not provide the resources which are needed for this to happen. 160 00:20:29,750 --> 00:20:37,580 And if we look at, for example, the need to build infrastructure, we still need to relook at the tax system in any countries. 161 00:20:37,580 --> 00:20:40,550 And I think part of the of all. 162 00:20:40,550 --> 00:20:50,060 So I can see that taxation is something that we need to do because we need to get the resources and there is only one way. 163 00:20:50,060 --> 00:20:58,910 We need to relook at the tax system. So definitely inequality will precisely increase the gap and it's already increasing. 164 00:20:58,910 --> 00:21:06,740 But beyond this, inequality is not something that cannot be solved. 165 00:21:06,740 --> 00:21:16,970 And if you look at some attendue, the example of Nordic countries which tend to have very poor fool proof women pro-family policies. 166 00:21:16,970 --> 00:21:25,670 Again, inequality is one of the issues, but we need to relook at all the indicators in order to see things happening in the right direction. 167 00:21:25,670 --> 00:21:29,660 They have shown that it is possible to have growth. It is possible to create jobs. 168 00:21:29,660 --> 00:21:35,540 It is possible to have profound needs. Is possible drug problem policies and to work with the rest of the world. 169 00:21:35,540 --> 00:21:43,700 So these are models that can replicate it. And I think the latest one that's Norway has come up with is going to be looking at this for, 170 00:21:43,700 --> 00:21:49,130 you know, the way to have used something you don't need to. 171 00:21:49,130 --> 00:21:52,400 All right. So take it there and thank you for your time. 172 00:21:52,400 --> 00:22:02,240 Really interesting. I was just wondering because you gave you a few things, quite a bit of your talk on the African model and the Chinese model. 173 00:22:02,240 --> 00:22:05,930 And I was just thinking in Africa, it's quite culturally diverse. 174 00:22:05,930 --> 00:22:12,140 So you have to be very different from the western part, which is very different from the South and the east. 175 00:22:12,140 --> 00:22:17,000 So that's complexity, competitive, homogeneous society like China. 176 00:22:17,000 --> 00:22:24,530 I was just wondering how much other countries using the cultural differences has played in this. 177 00:22:24,530 --> 00:22:28,310 In getting us to where we should have been and how do you think to the complex? 178 00:22:28,310 --> 00:22:35,720 Yeah, I agree. I mean, China is one country, as you have said, appropriately homogeneous 90 percent of the population, 179 00:22:35,720 --> 00:22:40,220 for example, would be one one group Africa's 54 countries. 180 00:22:40,220 --> 00:22:43,850 Just use the Chinese Malays in terms of looking at the macro economic indicators, 181 00:22:43,850 --> 00:22:48,440 for example, how they recognise the challenges and they have adapted. 182 00:22:48,440 --> 00:22:53,900 And I have used to use this model to just explain the dynamics culturally. 183 00:22:53,900 --> 00:22:55,820 Yes, Africa is very diverse. 184 00:22:55,820 --> 00:23:06,890 But again, with the challenges that you perceive culture to be to be in terms of addressing the integration of of African countries within, 185 00:23:06,890 --> 00:23:12,860 for example, the African Union, which technically should be driving the or the policies of those Africa. 186 00:23:12,860 --> 00:23:16,790 I still think that this should not be a hindrance. 187 00:23:16,790 --> 00:23:26,180 We are still talking about 54 countries. We're talking about 1.2 billion people we are talking about with that call increasing internal market. 188 00:23:26,180 --> 00:23:35,390 Right. And if Africa cannot operate as a bloc, as one bloc, there are regional blocs where things can happen, 189 00:23:35,390 --> 00:23:41,450 and this is where we increasingly talk about integration of the various economy, those policies. 190 00:23:41,450 --> 00:23:48,860 For example, if we look at the tariff, we look at, for example, the standards that can be adopted across. 191 00:23:48,860 --> 00:23:55,100 And if a country like we have countries like Tanzania and Kenya, which are neighbouring countries, 192 00:23:55,100 --> 00:23:58,790 these two by themselves, they would be about 50 million people. 193 00:23:58,790 --> 00:24:01,340 So already there is an internal market. 194 00:24:01,340 --> 00:24:09,320 But countries have to relook at the mobility of goods for legal services and mobility of just about everything. 195 00:24:09,320 --> 00:24:17,480 But unfortunately, when you look at Africa, we tend to see, for example, a very poor networking in terms of the airline. 196 00:24:17,480 --> 00:24:22,220 For example, the visa problems where little people is is an issue. 197 00:24:22,220 --> 00:24:29,320 So these are much more to me, much more fundamental issues than the cultural problems. 198 00:24:29,320 --> 00:24:36,230 Unless I'm mistaken. Let's take the three and then go on. 199 00:24:36,230 --> 00:24:40,040 So at the bottom here, thank you. Thank you. Thanks for the talk. 200 00:24:40,040 --> 00:24:45,770 So the splitting on that dividing China? What do you think about China's investment in Africa? 201 00:24:45,770 --> 00:24:58,310 Do you think that kind of fuels investment in Africa? And, you know, does Africa go from that to more and combined? 202 00:24:58,310 --> 00:25:06,880 Let's respond to this one because it brings up to this one. You know, in the late 18:00, we had the big scramble for Africa. 203 00:25:06,880 --> 00:25:12,020 OK, you saw Africa with the borders, of course, at the moment. 204 00:25:12,020 --> 00:25:20,440 Interestingly, people can say that there is a new scramble for Africa, but this scramble for Africa this time can work for Africa. 205 00:25:20,440 --> 00:25:23,770 But we need to give up those rights cards, right? 206 00:25:23,770 --> 00:25:29,980 And we need to put in the strategies, why we need to go, why we we can't as well said at the end of a speech. 207 00:25:29,980 --> 00:25:39,970 We can't fail one more generation because the African continent by 2035 will be the supply of talents and human capital, which is still very young. 208 00:25:39,970 --> 00:25:46,960 So leaders on the continent cannot afford to lose out on this new scramble for Africa. 209 00:25:46,960 --> 00:25:53,110 Now you mentioned China again, I use the model of China because why is the model Chinese? 210 00:25:53,110 --> 00:25:59,350 Precisely because Chinese investment is perhaps the biggest trading partner as well, because now these will be joining us. 211 00:25:59,350 --> 00:26:07,060 But how do you make this partnership become a win win partnership as opposed to losing up all the time in the trade balance and all the rest of it? 212 00:26:07,060 --> 00:26:12,520 So they need the resources, Africa needs the technology. 213 00:26:12,520 --> 00:26:20,200 We know what we always talk about. Why are we right now? But we are very happy to talk about the rise of artificial intelligence. 214 00:26:20,200 --> 00:26:25,360 And there are two big players in this world. There's America, and there's not and there's China. 215 00:26:25,360 --> 00:26:32,020 So how do we use this partnership with China? Because China, through the FOCAC, they are investing massively. 216 00:26:32,020 --> 00:26:37,540 They're providing in the last meeting they had with the disclosures of their 60 billion US 217 00:26:37,540 --> 00:26:44,050 dollars and disposal countries for for use in the infrastructure in other things as well. 218 00:26:44,050 --> 00:26:48,310 So these are these are the win win situation, which can be which can be put in place. 219 00:26:48,310 --> 00:26:52,930 Having said this, there is nothing preventing in yesterday was a debate. 220 00:26:52,930 --> 00:26:56,140 It was a we used to have constantly no use Xi. 221 00:26:56,140 --> 00:27:02,830 Nothing we could say. Yeah, that was a thing that Turkey offering the UAE, also the Africa. 222 00:27:02,830 --> 00:27:07,330 But how does how does this new scramble for Africa work? 223 00:27:07,330 --> 00:27:12,430 That's what we have to look at. Thank you. So I was just interested on your sources, 224 00:27:12,430 --> 00:27:20,680 on the idea of inequality and the constant loses out billions of dollars in illicit financial flows every year. 225 00:27:20,680 --> 00:27:25,750 And I was wondering whether you feel that there's actually sort of political will to remedy this. 226 00:27:25,750 --> 00:27:32,320 I sort of hesitantly points to the fact that the crisis in the UAE have recently been named as 227 00:27:32,320 --> 00:27:41,260 corrosive corporate tax havens and on one side and then on the other in terms of natural resources. 228 00:27:41,260 --> 00:27:48,310 What this political will either I just got back in Uganda and the government is essentially fashioned. 229 00:27:48,310 --> 00:27:56,830 The most intricate system to both take gold out of the DRC through illicit trading networks, 230 00:27:56,830 --> 00:28:05,500 but also to control its own gold network, which it's now, it's predicated a refinery on the idea that it's value addition, 231 00:28:05,500 --> 00:28:07,750 you know, said contribution to that idea, 232 00:28:07,750 --> 00:28:16,640 but it then gives a 10 year tax holiday to the company that's doing it and has to convene these sets of artisanal miners. 233 00:28:16,640 --> 00:28:20,230 Oh yeah, if you said you'll go to us, we won't tax you either. 234 00:28:20,230 --> 00:28:22,240 So the gold going in is not being taxed. 235 00:28:22,240 --> 00:28:28,870 The gold going house is not being taxed, and then it goes via Dubai and into the European markets where it seems to be. 236 00:28:28,870 --> 00:28:34,000 So it's very difficult to see how there's going to be political will then these flows? 237 00:28:34,000 --> 00:28:40,510 I wouldn't say we have a tax haven the same. We have a little pragmatic tax system. 238 00:28:40,510 --> 00:28:48,520 That's what it's like. Now you mentioned about these flows, the outflows of all these natural resources. 239 00:28:48,520 --> 00:28:54,160 Right. This is where I spoke about when the speech said, we need governments, right? 240 00:28:54,160 --> 00:28:59,860 And unfortunately, I have to say this very bluntly, where there is a corrupt, there's a corrupt. 241 00:28:59,860 --> 00:29:04,840 So if this gold, if these resources are going out to Africa, is lending so much. 242 00:29:04,840 --> 00:29:12,950 So what are the regulatory systems which are being put in place to see to it that the resources are not being taken out in an illegal money? 243 00:29:12,950 --> 00:29:17,640 But you talk about political will, but who is going to distil the political? 244 00:29:17,640 --> 00:29:22,620 That's the thing it's good to say, it's a very nice rhetoric to say that we need the political will, 245 00:29:22,620 --> 00:29:25,440 but who's going to distil the political will to make it happen? 246 00:29:25,440 --> 00:29:35,220 And this is where we see governments, when you regulators and we need the consumers to see to it that whatever they are getting is ethical. 247 00:29:35,220 --> 00:29:36,120 They've done it. 248 00:29:36,120 --> 00:29:42,840 They are models we've seen, for example, how but to some extent, how they have been able to regulate blood diamonds, for example, right? 249 00:29:42,840 --> 00:29:48,390 How they have been able to regulate some of the forest utilisation of the wood, for example. 250 00:29:48,390 --> 00:29:52,710 But we need to know where this wood where it is more, what is resources going to. 251 00:29:52,710 --> 00:29:57,800 And I think this is where government regulators have a very important place just as a quick. 252 00:29:57,800 --> 00:30:01,710 Not in but to go. 253 00:30:01,710 --> 00:30:10,520 I'm not sure if you whether it's a company called Fairphone, and the premise was to have some transparent refineries and smelters for all that. 254 00:30:10,520 --> 00:30:14,250 All the materials that went into this refinery in Uganda, 255 00:30:14,250 --> 00:30:19,860 which is run by a guy who's been noted by the U.N. Group of Experts for running a vehicle build networks in the Congo. 256 00:30:19,860 --> 00:30:24,270 He was a good friend of Kabila's father, not in the 90s. 257 00:30:24,270 --> 00:30:29,100 They appear on Fairphone, the supply chain approved smelters list. 258 00:30:29,100 --> 00:30:37,710 Because of this sort of intricate system that they've managed to fashion, and essentially they even attempted, 259 00:30:37,710 --> 00:30:44,280 they even tried to bribe the regional trade bodies to self audit themselves so 260 00:30:44,280 --> 00:30:48,760 that they could appear to be transparent in order to get onto these companies. 261 00:30:48,760 --> 00:30:54,510 The crude smelting that works. So it's it's certainly going to be an uphill battle. 262 00:30:54,510 --> 00:30:57,750 Well, again, you, you you've touched on a very important point. 263 00:30:57,750 --> 00:31:04,260 Are the regulators, if these are people are going to be able to buy out, as you have said, who is doing it? 264 00:31:04,260 --> 00:31:10,890 And very often you'd be surprised to see that highly respected companies offer to do that. 265 00:31:10,890 --> 00:31:16,620 So this is the thing that we have to tackle is easy to just say, Oh, this one is the real simple. 266 00:31:16,620 --> 00:31:22,290 Every character, there's a gravity and we need to address the problem of the voiceless. 267 00:31:22,290 --> 00:31:26,820 How do you solve it? The always means, but we need to be able to do it. 268 00:31:26,820 --> 00:31:34,470 And I think at the end of the day, the consumer and this should be, of course, a case for whistleblowing and often in many countries, 269 00:31:34,470 --> 00:31:39,300 whistleblowers themselves, they are caught and they get into trouble for precisely whistleblowing. 270 00:31:39,300 --> 00:31:43,050 So what do you the system being put in place? I mean, who? Who's going to do it? 271 00:31:43,050 --> 00:31:47,340 At the end of the day, it trickles down to the consumer and they have a voice, 272 00:31:47,340 --> 00:31:53,150 and we don't seem to be able to know that we have this power to make change. 273 00:31:53,150 --> 00:31:57,780 So you take one more question down here. Yes, sir. 274 00:31:57,780 --> 00:32:06,930 Hi, thank you so much. For talking to us about the ambitious and freedom time, and I also want to beg your forgiveness in advance, 275 00:32:06,930 --> 00:32:12,900 which is my area of expertise is more or less so I see you very well. 276 00:32:12,900 --> 00:32:20,340 Talk to us about the need for the mobility of goods and services in people and taxation and the pro woman and family. 277 00:32:20,340 --> 00:32:30,510 That's necessary. So I suppose looking at some of your closest neighbours to me, Tanzania and Kenya, as you mentioned. 278 00:32:30,510 --> 00:32:37,930 Looking at the 19th century history, is there any? 279 00:32:37,930 --> 00:32:40,870 What is the biggest difference, do you think, 280 00:32:40,870 --> 00:32:52,690 between militias and those other countries and how you've developed that contributed to your ability to get a hold of these things that you mentioned? 281 00:32:52,690 --> 00:33:03,700 Thank you. Just quickly, just a few lines on the historical background who became independent from the British in 1968 and when the British left, 282 00:33:03,700 --> 00:33:08,860 we were a monocoque economy with 92 percent sugar and the GDP. 283 00:33:08,860 --> 00:33:14,320 The per capita income was 200 $US 1968, right? 284 00:33:14,320 --> 00:33:25,210 And now we're over 10000. And what we have done is that in one of the three pillars that the government at the time that took the decision to ease, 285 00:33:25,210 --> 00:33:29,170 first of all, to look at family planning, that began very strong issue. 286 00:33:29,170 --> 00:33:33,730 The second one was to give Social Security net to people the vulnerable. 287 00:33:33,730 --> 00:33:43,330 So we had a free health system. But the one that was really the the game changer was in 1976, when education became free, right? 288 00:33:43,330 --> 00:33:47,650 In fact, if you read the Op-Ed of Joe Stiglitz album of 2012, 289 00:33:47,650 --> 00:33:55,030 you mentioned that he visited Mauritius and said the country was either very rich or on the verge of bankruptcy. 290 00:33:55,030 --> 00:34:00,520 And we know that. But there has never been a Mauritian miracle per say. 291 00:34:00,520 --> 00:34:09,040 There has been a series of strong, pragmatic decisions are being taken and every 10 years there has been a diversification to the economy. 292 00:34:09,040 --> 00:34:16,450 So we moved from agriculture based economy in the 1970s, where there was huge unemployment. 293 00:34:16,450 --> 00:34:21,910 Education became freeze at precisely these women who work in the fields. 294 00:34:21,910 --> 00:34:27,970 They will now be able to start with, you know, an embryonic industry, 295 00:34:27,970 --> 00:34:32,980 companies time and then we move on the diversification of the financial services. 296 00:34:32,980 --> 00:34:40,570 And then we went through it with the service and all the rest. Right now, we have to prosper because the economy is about 3.8 percent growth. 297 00:34:40,570 --> 00:34:47,140 But in order to absorb precisely the young people, the youth in terms of job creation, we need to go beyond six percent. 298 00:34:47,140 --> 00:34:53,200 But how do you get to six or seven? If we want to become a knowledge economy, how do we do that? 299 00:34:53,200 --> 00:35:00,580 But something else which where would you market, maybe for many African countries, is that every five years when you the actions OK? 300 00:35:00,580 --> 00:35:06,940 And they cannot tweak the constitution, it is virtually impossible then just to give you an idea, some point. 301 00:35:06,940 --> 00:35:15,790 There were a need to change towards me and show you show or you mean it took them almost a year. 302 00:35:15,790 --> 00:35:23,110 This changes to me. So these are things that which I think the fundamentals are there. 303 00:35:23,110 --> 00:35:29,710 If we want to drive change, these fundamentals must be there so that the country then can share their resources. 304 00:35:29,710 --> 00:35:32,620 I'm not going to say that we have reduced inequality, 305 00:35:32,620 --> 00:35:39,490 but we will be very conscious because we have introduced the minimum wage and we still give free health service. 306 00:35:39,490 --> 00:35:48,400 We still have free bus service to young kids going to school, the elderly, they are protected the pension and we have education. 307 00:35:48,400 --> 00:35:53,890 So these are and I think, all these benefits account to nearly 35 percent of overall GDP. 308 00:35:53,890 --> 00:36:01,570 Spending this conversation about free university education as it is free, is it already and is free up to graduate level? 309 00:36:01,570 --> 00:36:09,820 So these are things that I feel have been the recipe to making into the meeting of the so-called Mauritian merit, 310 00:36:09,820 --> 00:36:15,240 but it never has been made and has been a series of pragmatic decisions. 311 00:36:15,240 --> 00:36:22,050 Thank you very much. My name is Christopher Conrad, I'm a student loan student at Oxford Brooks University. 312 00:36:22,050 --> 00:36:29,290 My question is about Africa's education system. Why did you talk about innovation? 313 00:36:29,290 --> 00:36:32,320 So, for example, from Uganda, where I come from, 314 00:36:32,320 --> 00:36:41,590 most of the stuff that we step in is really no template for regurgitation that, you know, reproducing to pass an exam. 315 00:36:41,590 --> 00:36:50,920 How does Africa put in place and education system that enhances and promotes innovation? 316 00:36:50,920 --> 00:36:56,320 You know, to get to the China economies and stuff like that, how do we do that? 317 00:36:56,320 --> 00:37:03,820 You know, the education I got when I was a child is no longer relevant to my daughter and eventually one day to my grandchildren. 318 00:37:03,820 --> 00:37:12,040 So we really need to relook at education, which is which makes itself relevant, which makes it impactful. 319 00:37:12,040 --> 00:37:19,780 And more importantly, empowers and the education system that we have inherited had served its purpose. 320 00:37:19,780 --> 00:37:29,860 It is no longer applicable. So now we need to relook at a system where we have to reskill our skill and upskill our people. 321 00:37:29,860 --> 00:37:35,720 And there are many, many good examples we see, for example, the finished method, 322 00:37:35,720 --> 00:37:41,620 the finished method, exactly where Finland always goes, a very, very high in the ranking. 323 00:37:41,620 --> 00:37:48,150 And but the way we are moving anywhere in the world on this Africa is we need to 324 00:37:48,150 --> 00:37:53,590 to see to it that the education system we give to our kids still remain relevant. 325 00:37:53,590 --> 00:37:57,490 And I think this speaks for itself because in many places, 326 00:37:57,490 --> 00:38:04,990 kids are still being taught rote learning and it's no longer applicable because now this will have computers to be able to get the data. 327 00:38:04,990 --> 00:38:09,610 So we need to be to be able to make them think critically do things with the. 328 00:38:09,610 --> 00:38:17,920 And also importantly, with Africa being quite specific in this area of the number of kids reaching the job market every year, 329 00:38:17,920 --> 00:38:23,200 we really need really to have a proper strategy for vocational and vocational training. 330 00:38:23,200 --> 00:38:34,000 And so there's a huge task ahead of us. I think you just come back to the point you made about R&D. 331 00:38:34,000 --> 00:38:43,030 And it seems to me that somebody's making much of this work. The 16 African countries have been meeting. 332 00:38:43,030 --> 00:38:50,410 But only a handful of research. 333 00:38:50,410 --> 00:38:58,210 We have always systematically and this is true for Africa, is true for many countries, and I will do I could buy here because people, 334 00:38:58,210 --> 00:39:03,520 when we are scientists, we don't communicate properly to policymakers and politicians. 335 00:39:03,520 --> 00:39:10,510 So when we don't communicate properly, they don't see the impact of of of science in the economy. 336 00:39:10,510 --> 00:39:16,900 And I keep saying that every percentage of GDP, which goes into research and development is that many jobs are created. 337 00:39:16,900 --> 00:39:25,300 And this enhances their scope of getting re-elected. So maybe this is the narrative we haven't provided to them. 338 00:39:25,300 --> 00:39:35,530 Again, it boils down to what the strategy that, for example, South Korea had developed when South Korea came out of the war in 1958, 339 00:39:35,530 --> 00:39:40,750 its per capita income was probably at par with better results in our country. 340 00:39:40,750 --> 00:39:46,900 And what South Korea did for 50 years, it's invested his own people. 341 00:39:46,900 --> 00:39:55,510 It's developed its tertiary education system, created the nexus between economy and industry and science. 342 00:39:55,510 --> 00:40:02,350 And this is the kind of thing that we need to see increasing on the continent. And unfortunately, it's happening only sporadically across the country. 343 00:40:02,350 --> 00:40:06,190 Only very few countries that have really recognised that there is there is the 344 00:40:06,190 --> 00:40:12,880 nexus between investment in R&D and in the evolution of the growth of the economy. 345 00:40:12,880 --> 00:40:21,460 And again, many countries still haven't reached the prescribed one or one percent of GDP in the in the research and development. 346 00:40:21,460 --> 00:40:25,990 And this is the basis mean the basic minimum provided for by the African Union. 347 00:40:25,990 --> 00:40:31,210 And then if you look, if we take now the other extreme of South Korea, again, I come back to this. 348 00:40:31,210 --> 00:40:38,080 They are investing some seven percent. And yet this is a country with no resources and here we have a resource rich continent. 349 00:40:38,080 --> 00:40:43,930 So what is missing? Yes. 350 00:40:43,930 --> 00:40:50,860 Yeah. Thanks. I just want to follow up on that, we didn't always ask the same question again, but in a more personal way, 351 00:40:50,860 --> 00:40:57,100 you referred to Nehru with Nehru famously when challenged way out for the poor country like India, invest in science. 352 00:40:57,100 --> 00:41:01,120 That is exactly because it's poor that they can't afford not to invest. 353 00:41:01,120 --> 00:41:11,700 And yet the one percent target which all heads of state decided to adopt could never be met, except for one small accounting trick with Malawi. 354 00:41:11,700 --> 00:41:16,820 Well, but you're talking about we have to persuade them, we have to persuade them, but you will one of them. 355 00:41:16,820 --> 00:41:21,310 And so when you work with them, that's not enabled. What were the conversations? 356 00:41:21,310 --> 00:41:28,450 I mean, this somebody brought this up because these were intelligent people that people who increasingly come from non-military backgrounds. 357 00:41:28,450 --> 00:41:30,640 If you look at the difference now, 20 years ago, 358 00:41:30,640 --> 00:41:36,760 the biggest difference in leadership in Africa is the real reduction in people of the military backgrounds are coming from professional backgrounds. 359 00:41:36,760 --> 00:41:41,980 So I think many of us still are at a loss even when we say, well, perhaps we don't communicate that well. 360 00:41:41,980 --> 00:41:48,280 What are the conversations that go on at that level? Is it just not on the agenda for the people to say, no, no, can't think about that. 361 00:41:48,280 --> 00:41:54,490 Got other things to deal with that? I think this is generally puzzling to people, unfortunately. 362 00:41:54,490 --> 00:41:58,340 Well, there are a few you mentioned. There are very few people from the army. 363 00:41:58,340 --> 00:42:06,340 Yes, there are very few. We have seen a migration of the 54, perhaps the 30 there now 30 plus professionals. 364 00:42:06,340 --> 00:42:10,930 But this conversation is still not at the table. 365 00:42:10,930 --> 00:42:15,190 It is still not at the table, unlike other countries in Asia. 366 00:42:15,190 --> 00:42:20,920 I'm not going to mention China, but the other countries in Asia which are emerging, whether it is Asia, 367 00:42:20,920 --> 00:42:28,930 is now three point seventy seven billion people on Earth, and this is changing there. 368 00:42:28,930 --> 00:42:38,410 But in Africa, in fact, the level of the EU, it is still pay lip service to the need to invest in science and and we still 369 00:42:38,410 --> 00:42:44,680 believe that development of human capital for Africa will come from donors. 370 00:42:44,680 --> 00:42:54,850 And my narrative for that has always been if we are going to see changes on our continent, we need to start putting our hands in our pockets. 371 00:42:54,850 --> 00:43:03,910 So this may hurt, but I think there has to be kind of very vocal and people to come up with that, and still this is how still has not sunk in. 372 00:43:03,910 --> 00:43:10,890 But I think the way to make it to make it now we a sink in is to use the narrative of, 373 00:43:10,890 --> 00:43:15,850 first of all, they need to be re-elected and they need to create jobs. 374 00:43:15,850 --> 00:43:22,960 And one thing which is now maybe ringing a bell is the massive migration out of Africa. 375 00:43:22,960 --> 00:43:29,290 We see people dying in the in the Mediterranean. People don't leave their homes because they are there. 376 00:43:29,290 --> 00:43:33,940 They want to leave their homes and take the lives of heads and take the risk of dying. 377 00:43:33,940 --> 00:43:38,980 I think there are too many things happening, and one of them is climate change. 378 00:43:38,980 --> 00:43:44,800 Climate is impacting Africa biggest and the rural areas where people used to 379 00:43:44,800 --> 00:43:51,100 harvest feel how there's no water change in the patterns or the weather pattern. 380 00:43:51,100 --> 00:43:59,200 All these, I think, is now trickling to to to the leaders on the continent that something is happening there and take that seriously. 381 00:43:59,200 --> 00:44:08,740 But again, I would say the same thing. Climate change, it is not a phenomenon that can be tackled nationally. 382 00:44:08,740 --> 00:44:15,460 We still need the solidarity from countries that have been leading so far, and we still need that investment. 383 00:44:15,460 --> 00:44:24,610 Now if you look at what the UNFCCC had mentioning, 200 billion by 2020 is still not there in terms of capitalisation of the Green Climate Fund. 384 00:44:24,610 --> 00:44:33,850 Now these $200 billion, a lot of money when you talk about the global economy going right in trillions of dollars, right? 385 00:44:33,850 --> 00:44:43,390 But we still need to decide that for the continent, the African country, countries leaders need to invest in that space. 386 00:44:43,390 --> 00:44:49,790 And he insists of the word investment because it is not an expense, it's an investment. 387 00:44:49,790 --> 00:44:55,820 We've done this since 1976, so we have a few models to share so we can share the experiences, 388 00:44:55,820 --> 00:45:02,600 but the the the will to actually goes to actually invest has to come from the leaders themselves. 389 00:45:02,600 --> 00:45:08,090 Should the conversation, probably from the leaders of EU levels and water go back to communities, 390 00:45:08,090 --> 00:45:15,140 to the people who are actually affected when these people were affected, when the medicines don't work and so forth and have that conversation, 391 00:45:15,140 --> 00:45:20,420 maybe from the, you know, academic circles down to that conversation because at the end of the day, 392 00:45:20,420 --> 00:45:26,000 they are mandated to voting these people in power and probably making research a public good. 393 00:45:26,000 --> 00:45:29,870 The level of, you know, the woman selling in the market at that point. 394 00:45:29,870 --> 00:45:34,050 And if it makes sense to them, then they may be able to influence who makes the decisions. 395 00:45:34,050 --> 00:45:39,340 Look at all the other things we're talking about something very fundamental here access to education. 396 00:45:39,340 --> 00:45:46,660 How educated the people to be able to critically think that these are the conversation needed to have. 397 00:45:46,660 --> 00:45:52,150 So again, we do need to look at the indicators in Mauritius we have with 92 percent. 398 00:45:52,150 --> 00:45:59,140 What is the percentage to so many countries and these women who are sitting overseas selling vegetable in all these? 399 00:45:59,140 --> 00:46:06,010 How are they able to think when the main priority would be getting the next meal on the table? 400 00:46:06,010 --> 00:46:13,450 So these are things that we really need to have. And again, and quite honestly, it's quite disheartening. 401 00:46:13,450 --> 00:46:19,670 When you go to this forum, there's a lot of talk, but factions of the. 402 00:46:19,670 --> 00:46:24,890 And I think you need to vote with your feet. Yeah, 403 00:46:24,890 --> 00:46:32,870 I was thinking about sustainable innovation and that that a large proportion of innovation 404 00:46:32,870 --> 00:46:38,690 in the next 50 years will have to be in Low-Carbon Technology and green technology. 405 00:46:38,690 --> 00:46:44,660 But it seems to be that there's a kind of new direction of these technologies generally 406 00:46:44,660 --> 00:46:50,070 being generated in countries by advancing companies to invest in experimentation. 407 00:46:50,070 --> 00:46:55,520 For example, the Nordic countries, which seems like a shame when, as you mentioned, 408 00:46:55,520 --> 00:46:59,870 innovation has to be something that can empower countries like Russia. 409 00:46:59,870 --> 00:47:07,990 So how can? How could climate change be made enough of a priority to incentivise green innovation? 410 00:47:07,990 --> 00:47:15,790 And Africa, as well as you know, how can you stake a claim to green innovation, 411 00:47:15,790 --> 00:47:20,770 by the way, it seems like it's that you could find some sectors of society. 412 00:47:20,770 --> 00:47:34,420 There are many, many good, interesting things happening in India where there has been the the dry at Paris in 2015 for the Lions winners. 413 00:47:34,420 --> 00:47:36,610 And already India is walking the talk. 414 00:47:36,610 --> 00:47:43,540 I'm just using India as an example of a developing country with a who's also going to be the largest economy very soon. 415 00:47:43,540 --> 00:47:51,700 But we have been able to bring down the price of energy and you now accessible in very rural villages where electricity was, 416 00:47:51,700 --> 00:47:57,400 you know, was a luxury at some point. So it's already happening and they have many of the economic models they have 417 00:47:57,400 --> 00:48:03,790 worked out has shown that it is cheap enough to go into solar into renewables, 418 00:48:03,790 --> 00:48:10,960 that it is to go for oil and coal. And at the global level, I think all the works that have been published in the United States, for example, 419 00:48:10,960 --> 00:48:18,550 have also shown that the progression towards renewable is going to be a lot more economically interesting, 420 00:48:18,550 --> 00:48:23,580 viable than going in gas and the fossil fuel. 421 00:48:23,580 --> 00:48:28,200 All right. I'm afraid we might want to close their own. 422 00:48:28,200 --> 00:48:36,930 No, I won't. Maybe if you could give us a final word, if you had a magic wand to fix the world, what would that? 423 00:48:36,930 --> 00:48:43,350 What would you do? Um, well, I wish I had fixed up because, you know, 424 00:48:43,350 --> 00:48:51,240 invest in the young people and empower them with proper education and and invest in them, for example, 425 00:48:51,240 --> 00:48:55,770 that they can access finance to become entrepreneur because it's something that has been 426 00:48:55,770 --> 00:49:01,440 saying all along that we need to have young people become job creators and not job seekers. 427 00:49:01,440 --> 00:49:05,760 And to be able to do that, they need to have good education. 428 00:49:05,760 --> 00:49:11,910 They need to also have to have access to finance so that the ideas that they are developing can be used to create more jobs. 429 00:49:11,910 --> 00:49:18,240 Invest in mines Africa's future is in the mines and not in the mines. 430 00:49:18,240 --> 00:49:28,140 There you go. But please join me and thank you for joining us. 431 00:49:28,140 --> 00:49:33,720 Thank you all for joining us, I hope you come to a lot more events in the future. 432 00:49:33,720 --> 00:49:37,237 Thank you.