A group from Essec Business School were at USB recently as part of their General Management Programme.
Martin Butler facilitated a session on innovation in Africa and he used the following definition to describe innovation: “People implementing new ideas to create value.”
He said innovation plays an important part to help solve Africa’s problems. Kenya has the world’s highest percentage of mobile banking users, with 68% of adults using their phones to do mobile payments.
The group of 15 students, accompanied by programme director Caroline Frarier, were told about several African innovations. Three of them that particularly stood out among the group, were:
M-pesa: A mobile phone based financial service with more than 19 million subscribers. Mobile airtime is used as a currency and real-time money is transferred to individuals and businesses.
Backtracker (iKubu): This product was developed by USB MBA alumnus Franz Struwig. A low-energy bike radar provides situational awareness to warn cyclists about approaching cars from behind and to also warn motorists about cyclists.
SnapScan: Another mobile phone-based payment system which does not require a vendor point of sale as the user downloads an app and registers his or her bank card to facilitate the payment.
Vikash Kinnoo (picture), says mobile money is really an example on how technology has been used to help the poor people and the mass. "Without mobile money, they would not have been part of the economy," he says about the one African innovation that stood out for him.
Butler concluded by saying that “Africa is a continent full of opportunities and if you have great ideas, Africa is a great place to be”.
