Tapping into African potential

The 8 May might have had the chill of winter in the morning air, but the electricity that surrounded the throngs of attendees for Net Prophet 2012 was almost palpable.

The foyer of the auditorium at Mutual Park was jam-packed full of young entrepreneurs, software developers, marketers, media gurus, business owners and just about everyone in-between.

They chatted excitedly over coffee while the thump-thump of music emanated from the belly of the auditorium, only increasing the anticipation of what might come in the day ahead.

Now in its fourth year and with the biggest crowd to-date, Net Prophet 2012 kicked off with what some Twitter users referred to as South Africa's own “TED Talk”. Perhaps what makes this event quite special is its international calibre - proving that South Africans are able to compete with international events. One can't deny the definite on/offline buzz with participants and speakers both being truly excited.

“South Africa has incredible talent, and our unique challenges are channelling these abilities in inspirational ways,” says Anthony Robinson, CEO of Saratoga, one of the event sponsors.

“Often, South Africans lack confidence when it comes to believing themselves capable of making global impact. But many of the talks completely dispelled that misconception.”

One of the most inspirational was by Yusuf Randera-Rees, who pointed out that as a nation, we're quick to write off a quarter of our population, simply because they are poor. From his personal experience and studies at Harvard, Randera-Rees came to realise that there was a simple formula that top institutions employ in order to produce A-level talent - “take naturally talented people, pour world-class resources into them, and almost inevitably, you're going to end up with world-class entrepreneurs, scientists and leaders.”

Randera-Rees has proved that in reality, no matter what the background or context, you will find people who are “equally smart, resilient and resourceful”, as illustrated by the story of a local taxi driver who scored in the top 1% of cognitive ability globally. Through training and mentorship, he is now heading up a successful and rapidly growing business. Randera-Rees' education and mentorship model has proved so successful that government is sponsoring its expansion to reach another 1 000 people!

“It's our hope that through sponsorship of events such as Net Prophet and also Tech4Africa, which is gearing up for October, we can help change the mindset towards a more positive self-image for South Africans in business,” said Robinson. “I've recently been captivated by the story of Elon Musk, a South African who graduated as an engineer from Pretoria University. His company, SpaceX, has just successfully launched a rocket to dock with the international space station. Placing this in context, there are only five entities that have achieved this: Russia, the USA, Japan, the European Space Agency, and a South African entrepreneur!”

Permjot Valia also encouraged South Africans to have faith in their ideas and to think truly globally - to think beyond South Africa and Africa.

People often make the mistake of assuming their first target market should be local when a global market might well be better suited, and there is no reason why South Africans shouldn't feel able to solve global problems.

There is already a growing body of evidence as to why South Africa is one of the most exciting places to be right now. According to the McKinsey Report: “The rate of return on foreign investment is higher in Africa than in any other developing region. Global executives and investors must pay heed.” This supports what many of the speakers at Net Prophet pointed out - that Africa offers a sizeable untapped market where global investors can hope to find excess returns.

With an estimated population of around 10 million, Africa offers a vast pool of talent, many of whom are currently overlooked by industry. We need more people, like Randera-Rees, willing to explore this segment of the population. What makes the approach of Randera-Rees so different is that he is not just another charity aimed at “saving” Africans. His initiative is ultimately a business venture, but one that offers world-class training and tools to economically disadvantaged communities. He is clear that his organisation will hold people to the same level of expectation as anyone from Harvard. A brilliant reminder to the rest of us that, yes, we are just as talented and capable of excellence as the rest of the world.

The roar of applause from the audience following Randera-Rees' talk was further confirmation of the impact he had. His work was truly inspiring and he stood out as offering a very different view of South Africa's potential.

Those walking away from the event were left with the inspiration to think creatively and embrace opportunities that are opening up, such as through mobile technology, that allows the African market to attract global interest and make an impact worldwide. I think it is safe to say that attendees left Net Prophet feeling proudly South African, not just because of a sense of patriotism, but because it makes business sense as well.

The other event on the horizon that gives an opportunity to for South African technology leaders to stand on the same platform as their international counterparts is Tech4Africa. Due to kick-off in Johannesburg in October, it aims to further investigate “unlocking the next billion customers” in Africa through a very wide variety of initiatives as part of the conference.

Net Prophet certainly proved that world-class talent exists and that there are many innovative and inspiring business minds right here in Africa, as there are in the rest of the world. If Net Prophet was anything to go by, Tech4Africa will certainly be a must for innovators, both locally and internationally, who want to be on the forefront of the next untapped market.

Author
Sarah Meder
Saratoga Staff Writer