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Digitorials: More than a press release

June 4, 2021

African economies have been challenged to boost their investment in research to power the continent’s industrial transformation by accelerating development of homegrown innovations that reinforce autonomy, sustainability, and technological sovereignty. Speaking during the official launch of the African Research and Innovation Hub (ARIH) on the sidelines of the ongoing Intra-African Trade Fair 2025 (IATF2025) in Algiers, the Group Chief Economist and Managing Director for Research at the African Export-Import Bank (Afreximbank) Dr. Yemi Kale noted that while Africa accounts for less than 3% of global research output, it bears a disproportionately higher share of global challenges. “Even more concerning, our research and development spending averages under 0.5% of GDP, far below the global average of 2.2% and far less than the over 4% invested in countries such as South Korea and Israel. However, history shows us that deliberate investment in research ecosystems has been the foundation of industrial transformation. Sustained competitiveness requires research, innovation, and the industrial capacity to transform ideas into products and services that can stand at the frontier of global markets,” Dr Kale said. The hub is a joint initiative of Afreximbank, the African Union and the African Continental Free Trade Area (AfCFTA) Secretariat that aims to promote and commercialise African research and innovation. It provides a platform for academics, researchers, and students to contribute their knowledge and expertise towards advancing Intra-African trade and industrialisation. “ARIH’s mission is to transform intellectual capital into industrial competitiveness and trade-led growth. Studies indicate that if Africa merely doubles its R&D spending to 1% of GDP by 2030, we could unlock an estimated $60–70 billion annually in additional value across agriculture, digital technology, and manufacturing. This would boost productivity, reduce import dependence, and expand Africa’s share of global trade,” Dr Kale argued. Throughout IATF2025, ARIH is running sessions bringing together participants from academia, enterprise, policymakers and investors. Besides the co-convenors, Algeria's Ministry of Higher Education is providing technical coordination for the sessions that include roundtables and pitch sessions for innovative projects and startups. University lecturers and students, as well as scientists and researchers affiliated with National Research Institutions from Africa, and the Diaspora including the Caribbean, have the opportunity to showcase their innovative research and scientific prototypes. Hosted by the People’s Democratic Republic of Algeria, IATF2025 is co-convened by Afreximbank, the African Union Commission and the AfCFTA Secretariat, and is projected to facilitate trade and investment deals worth over US$44 billion. IATF is a platform for businesses to showcase their goods and services to visitors and buyers while exploring opportunities and exchanging information. IATF aims to tap into opportunities from AfCFTA’s single market of over 1.4 billion people and GDP of over US$3.5 trillion. The ongoing IATF2025 is in its fourth edition with the last three editions of IATF cumulatively generating over $118 billion in trade and investment deals and attracting more than 70,000 visitors and 4,500 exhibitors.

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EDITOR PICKS

Offering the perfect blend of comfort, safety, convenience and personal development, Homescope Hostels is setting a new standard for student accommodation in Kenya. More than just a place to stay, these residences create a vibrant and nurturing environment designed to empower students from all over the world and provide them with a memorable living experience in Kenya. Exceptional Amenities and Benefits Homescope Hostels are equipped with a wide range of modern amenities tailored to meet the needs of the residents. These include spacious rooms, study areas, high-speed internet connectivity, well-furnished common rooms, and fully equipped kitchens. The hostels are designed to foster both academic focus and relaxation, creating an ideal balance for student life. All the residences come with transport services. Gender Segregation The hostels also have gender-segregated accommodations, with a dedicated female-only facility located in South C, and another branch in Mbagathi offering separate sections for male and female residents. This concept ensures a safe and comfortable environment for everyone. Comfortable and Well-Designed Ensuite Rooms The rooms at Homescope Hostels are thoughtfully designed with student comfort in mind. Each room is ensuite with its own dedicated bathroom and kitchenette equipped with appliances, ergonomic study desks, ample storage space, comfortable bedding, and proper ventilation to ensure a pleasant living experience. Residents can choose between single or shared occupancy options, catering to individual preferences and budgets. Safety and Security Safety is a top priority at Homescope Hostels. The premises are equipped with 24/7 security personnel, CCTV surveillance, and secure access systems to ensure complete peace of mind for the residents. Community and Support Homescope Hostels envisions an enduring community where residents live, learn, and launch dreams for the future. Through a commitment to varied career and self-development programs, the goal is to empower residents to connect, grow, and achieve their aspirations. The rooms at Homescope Hostels are thoughtfully designed with student comfort in mind. Locations On a mission to create more vibrant communities where students can thrive, study, and live comfortably, Homescope Hostels currently has two residences in Nairobi and a booking office in Mombasa. Located along Muhoho avenue, the South C residence offers a serene atmosphere ideal for studying and relaxation. The spacious rooms are designed with sustainability in mind, featuring energy-efficient appliances and exclusive study areas. Residents enjoy modern, eco-friendly living spaces surrounded by scenic city views. The Prof. J.M Kyambi branch, situated along Mbaruk road in Mbagathi area, places residents at the heart of the city’s vibrant culture with an internal environment that fosters a peaceful community for learning and resting. Just a few blocks from Ngong road and Mbagathi road, this modern facility provides easy access to Daystar and Strathmore universities, the Kenya Medical Training College (Nairobi campus), and Riara university among other institutions. Join the Homescope Hostels Community Combining contemporary design, tranquil living and centrality to the city’s hotspots, Homescope Hostels are the dream for students who enjoy relaxation and proximity to both academic and social opportunities.

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