Policy Areas for Global Strategic Positioning for Africa in the Fourth Industrial Revolution: Key Focus Areas

Abstract

The traditional challenges facing Africa have always revolved around civil war, poverty, conflict and violence, rising population with unemployment, health and malnutrition, poor infrastructure and weak governance and laws. The experiences of the COVID pandemic, changing world climate and the RussianUkranian War have laid bare the risks that world economies have unknowingly faced including rise in food prices, stock piling, domestic economies external price shocks. On the other hand, increased energy deficits, resource access inequality and high climate vulnerabilities continue hurting the world economy while increasing pressures to local sectors. These changing social demographics are integrating with economic metrics giving rise to more innovative approaches and complex models for development and growth. The 4IR is fast paced as challenges and opportunities become common to both the developed and developing country. Qualitative data approach through desk research reviewed existing data from books, journals, government reports, policy briefs, press releases, industry magazines and expert opinion publications. This study has identified three key areas for better strategic positioning of Africa in the current 4IR. Sound policy formulation is required towards: enhanced digital transformation and innovation, capitalizing on the cheaper tradeoff for Africa in the global carbon offset mission and bringing an advantage to the movement of resources and commodities in its production and consumption systems. The study recommends these touchpoints will address region- specific and country-specific problems including unemployment, financial inclusion gaps, and inequality in populations thereby providing solutions at local and regional level. Strategic investment on green-oriented structures will build climate-resilient and self-sufficient systems within developing economies thereby transforming institutions. Inclusivity will be key in the 4IR shifts to reduce the inequality gap of underserved populations which comes with unequal access to resources and opportunities. Policy formulators must be adept in incorporating the underserved populations within their regions into policy.