Innovators & investors head towards developing Africa

Posted on : Saturday , 6th December 2014

 Berlin Africa Economic Forum was held in Berlin and it concerned Innovations. The Forum was organized by The “German – African Business Association (AV)” and hosted by Deutsche Bank in Berlin.

In the foreword to the meeting the chairman of the AV, Dr Stefan Liebing highlighted the way Africa skipped the time of wired phones to the time of mobile devices suggesting that the same qualitative change may happen in the energy supply from big grid systems to systems using renewable energy.

The main speaker Jean-Claude Bastos de Morais, representing African Innovation Foundation, discussed opportunities of doing business between Africa and Europe pointing out different possibilities like the construction boom in Luanda, Angola or Lagos, Nigeria. There is still one big problem: if you need a legal consultancy in Africa you have to wait for months. Africa needs an access to expertise through distant learning and an access to venture capital. Africa also needs skilled people but there are many innovators. Some of them attended the Forum, presenting their achievements. Below just a few examples from different countries.

Dr Nicolaas Duneas won the Innovation Prize for Africa 2014 for the Osteogenic Bone Matrix (OBM) innovation. This is the first injectable porcine derived BMP (bone morphogenetic proteins) medical device in the world. The OBM injection leads to the rapid, safe and effective healing of problematic bone injuries, leading to the complete and natural restoration of the bone, including the bone marrow. OBM is the only bone graft substitute containing naturally extracted bone growth proteins that cooperate with high efficacy and is sourced from mammals, making it cost effective to produce. This innovation is expected to radically change the way orthopedic surgeons treat bones injuries.

Dr Melesse Temesgen developed the Aybar Broad Based Furrow Maker (BBM), a low-cost farming device that can be used to plough fields that are usually waterlogged, helping to drain the water easily. This turns soils that were otherwise unavailable for farming into high yielding fields. Over 44 000 units have been sold in Ethiopia alone to date. It is estimated that the income of affected farmers will more than triple as a result of using this technology.

Jeremy Stoss has 10 years experience working in Africa, as a consultant and an investment banker. As a consultant at CERA (Cambridge Energy Research Associations) he advised several governments and ministries in the region on the elaboration of their renewable energy policy. After living several years in Côte d’Ivoire and Ghana, Jeremy co-founded Afrimarket, a leading fintech involved in electronic remittances to Africa, with an innovative cash-to-goods approach.