Is Africa running out of time?

The African context and our purpose

It is an African imperative to reduce inequality, stimulate high levels of growth and accelerate entrepreneurship. Pre-Covid-19 seven out of the ten fastest-growing countries in the world were African and now more than ever the real growth opportunity is in Africa. Sadly, it’s too late for many livelihoods, and lives are lost at an increasingly alarming rate. The tragic events in South Africa during the week of 12 July 2021 serve as a grim reminder of the dire need for economic inclusion at scale.   

To accelerate this we need business, corporations, small and medium enterprises, Governments and civil society to take advantage of a set of market enablers for success.

To name a few from the World Bank: 

1. Sub-Saharan Africa’s 143 cities generate half a trillion dollars in economic activity, equal to 50% of the region’s GDP. By 2030, Africa will be home to 17 cities with more than five million inhabitants, and another 90 cities with at least one million inhabitants.

2. The continent’s demographic dividend - By 2060 Africa will be home to 25% of the world’s population. Sub-Saharan Africa's working-age population of 600 million people is growing at a rate of over 3% per year, adding over 1 .5 million people per month. 

2. New digitally based technologies allow Africans to leapfrog competitors that are wedded to more linear methods eg mobile banking platforms in east Africa. These technologies already exist, they just need to be made broadly available to small and medium-sized growing businesses - this is our mission

3. The creation of the African Continental Free Trade Area will open markets and opportunities that will drive manufacturing and job creation on the continent, enabling us to bring 30 million people out of extreme poverty and to raise the incomes of 68 million others who live on less than $5.50 per day. Economic inclusion at scale will drive $292 billion in potential income gains.

4. A level of creativity and innovation combined with improving education levels and digital access for our youth and within our communities. 

We must take advantage of the opportunities available to us as a continent and as individuals. We must shift the narrative from war, corruption, political instability, and poverty to one of abundance, common purpose, opportunity, shared value and growth, development, and exponential entrepreneurship.

We must create the future we want to see in Africa that is driven by digital inclusion fuelling economic inclusion. 

Imagine if we could create 50 million net new jobs in thousands of communities in five years!

A powerful movement of entrepreneurs, funders, civil society, and business with the skills, energy, and the orchestrated resources can create vibrant large-scale disruptive entrepreneurial ecosystems in Africa which inspire innovation and exponential growth to change people's lives. Visionaries like York Zucchi and TheStartupTribe. We must create meaningful economic inclusion and enhanced livelihoods for Africa's people

Without action millions of people will continue to suffer, without full digital inclusion Africa’s economies will be left behind, unemployment will increase along with financial exclusion.

A collection of passionate people willing to donate their time and minds to projects they genuinely believe in is already taking action. 

To positively impact the livelihoods of people across Africa, we must create an environment and provide solutions for economic inclusion. We must be the change we want to see in Africa and we need to act with urgency, while the continent still has this unique set of possibilities!

We understand that in order for individuals to thrive they need an ecosystem that supports them. 

At ExoFactory we're crafting impact-ecosystems for inclusive exponential growth through digital and financial inclusion to create jobs, improve livelihoods and accelerate prosperity in the communities we serve, at scale! 

The need is greater than ever and we are taking action. We must join forces, coordinate our efforts and build an inclusive exponential growth platform that helps NPOs, incubators, accelerators, enterprises, and businesses to develop community projects to improve livelihoods at scale in Africa. 

The journey to digital inclusion is the catalyst for financial inclusion. We have tested the potential of such a platform and we are taking action. To delay will cost many more lives and livelihoods - and worse will waste the massive possibility that exists to save livelihoods.

How we are accelerating economic inclusion

By applying exponential thinking and technology to create circular economies in communities that rebuild capital, whether this is financial, manufactured, human, social or natural. We apply modern digital business models (Exponential Organisations) and the EXO canvas to digital and financial inclusion in communities. As an example, our project to Democratise Digital Access empowers communities to own the infrastructure and protect it in a “franchise-like” security operation.  

This will provide digital access to the Internet and the necessary digital tools along with skills development. One example is everyone has some skills to share and by learning to "Monetise your expertise" you can create a passive income stream.

In the process of building a supportive and enabling ecosystem around these communities, we will democratize access to water, housing, energy, food, and critically, digital access and skills. 

Our principles and mindset

With exponential thinking and an abundance mindset we can enable digital inclusion and essential digital skills. Exponential thinking is critical for solving problems at scale, leveraging technology. An abundance mindset is essential to breaking the cycle of poverty and leveraging sustainable resources. Fundamentally we seek to disrupt scarcity-driven markets and create value in circular economies in communities that own the digital and other infrastructure assets.

The task at hand is substantial albeit attainable if we, who care about livelihoods choose to collaborate and help our communities to help themselves.  

Join the movement of individuals and organisations to create meaningful economic inclusion and enhanced livelihoods for Africa's people by endorsing or Manisfesto here...