November 2018 eNewsletter: Education is Critical in Innovation
ChairmaN’s corner: Furthering Innovation in sub-saharan africa
Sub-Saharan Africa has seen innovation in many areas including most notably in mobile based financial transactions. A 2016 article in Science, authored by Tavneet Suri and William Jack noted that the vast majority of Kenyan households have adopted mobile money, a service that allows money to be stored in mobile phones and transmitted to others via text messages. The authors estimate that access to the Kenyan mobile money system M-PESA has increased per capita consumption levels and lifted 194,000 households or 2% of Kenyan households out of poverty.
Despite ongoing successes, much needs to be done to enhance the innovative success of Sub-Saharan Africa. Nations need dedicated innovation policies targeting innovation actors and the linkages among them, for example, via collaborative research projects, public-private partnerships and clusters.