The Chief Operating Officer of KGL Group, Dr Micheal Owusu, a telecommunication expert, highlighted the significance of Science, Technology, and Innovation (STI) as key components for fostering economic and social development in Africa.
Acknowledging the notable progress made by the continent in fields such as medicine, engineering, and information technology, he commended Africa's initiatives towards achieving economic targets.
Despite these achievements, he noted that many African countries continue to face various challenges, including poverty, disease, and environmental deprivation.
During an interview with GNA, the COO emphasized the immense potential of STI in addressing these issues and promoting Africa's development.
Expounding on the role of STI in tackling challenges, he explained, “STI can improve agricultural productivity, increase food security, and reduce poverty. Agricultural innovation, including the use of new technologies and improved practices, can lead to increased crop yields, reduced production costs, and higher incomes for farmers. This, in turn, can drive economic growth, create new jobs, and reduce poverty.”
He further emphasized the impact of STIs on healthcare, stating, “Innovations in medicine and medical technology could improve access to healthcare and reduce the burden of disease, leading to increased productivity and economic growth.”
Identifying one of the challenges hindering the growth of STI, he addressed the issue of intellectual property rights (IPR), stating, “Africa must address the subject of intellectual property rights, which are crucial for protecting and commercializing innovations. A strong IPR system is essential for attracting investment in STI and ensuring that the benefits of innovation are shared equitably.”
He expressed concern over the weak IPR system in many African countries, which acts as a significant barrier to the commercialization of new technologies, discouraging international companies from making investments.
Concluding his remarks, he highlighted the transformative potential of STI in Africa's development, stating, “From improving agriculture and healthcare to creating new industries and jobs, STI has the potential to transform the continent's economy and improve the lives of its people. It can work well to change the fortune of the entire African region.”
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