Business
THE Chief Executive Officer of T2, Mr Obafemi Banigbe, says Africa’s biggest challenge is not lack of talent but limited access to markets, opportunities and scale.
Banigbe said this while giving a case keynote at the Omniverse Africa Summit 3.0 in Lagos on Wednesday with the theme: “Connected Future: Synergy for Impact.”
According to him, Africa has consistently produced innovative solutions and entrepreneurial talent, but many innovators struggle to commercialise ideas and expand beyond local markets.
“The challenge in Africa is not because we do not have talent. The challenge is that many talented people do not have access to markets and opportunities to scale,” he said.
Banigbe noted that young Africans had repeatedly demonstrated their ability to create businesses and solve complex problems despite operating in resource-constrained environments.
He said the continent’s innovation story was already evident in sectors such as telecommunications, financial technology, digital commerce and mobile-based services developed to address local needs.
Speaking on Africa’s future role in the global economy, Banigbe noted that the continent must move beyond consumption and become a contributor to global innovation.
“Our generation must answer a critical question: can Africa move from being a consumer of the future to becoming one of the architects of the future?” he said.
He stressed that Africa’s development aspirations should extend beyond exporting raw materials to exporting ideas, technologies and globally competitive innovations.
Addressing changes in the global economic landscape, Banigbe said shifting trade relationships, geopolitical tensions and technological disruptions present fresh opportunities for African economies.
According to him, Africa’s experience in solving challenges with limited resources places the continent in a strong position to develop practical and scalable innovations.
“Africa is no longer waiting for permission to innovate. Africa is already innovating,” he said.
Speaking on connectivity, Banigbe noted that discussions often focus on infrastructure such as fibre networks, towers, satellites and devices while overlooking its transformative impact.
He said connectivity should be viewed as a platform for creating opportunities, expanding inclusion and enabling economic participation across different segments of society.
“Connectivity is not fundamentally about technology. Connectivity is about the possibilities it delivers and the opportunities it creates for people,” he said.
Banigbe explained that connectivity enables entrepreneurs to reach customers, farmers to access market information and students to benefit from educational opportunities previously beyond reach.
On collaboration, he said Africa’s future competitiveness would depend on stronger partnerships among governments, businesses, investors, research institutions and innovation ecosystems.
“The age of isolated success is ending. The age of ecosystem success has begun,” he said.
Banigbe urged stakeholders across the continent to prioritise collaboration, saying sustainable growth would be driven by ecosystems that enable innovation, investment and long-term development. (NAN)
A.I
June 3, 2026
Tags: T2