This week, global policymakers, industry leaders, and experts gathered in New York City during the United Nations General Assembly (UNGA) to discuss critical topics shaping Africa’s digital future. A prominent event was the Forward Africa Leaders Symposium, organized by Africa Soft Power (ASP) in collaboration with Convene Africa. The event focused on the critical role of remittances and the need to develop a unified digital economy across the African continent.
The symposium aligns with Africa Soft Power’s mission to amplify underrepresented African voices in global conversations, featuring a diverse group of influential figures. Among the notable attendees were H.E. Nana Akufo-Addo, President of Ghana; H.E. Wamkele Mene, Secretary General of the African Continental Free Trade Area (AfCFTA); Peter Ndegwa, CEO of Safaricom Group; H.E. Fatoumatta Bah-Barrow, First Lady of Gambia; Joy Kategekwa, Director of Regional Integration at the African Development Bank (AfDB); Jules Ngankam, CEO of the African Guarantee Fund; Amany Asfour, President of the Africa Business Council; and Faheen Allibhoy, Managing Director & Global Head for Multilateral & Development Institutions at JP Morgan.
Remittances: A Lifeline for African Economies
One of the central themes of the symposium was the critical role of remittances in strengthening Africa’s economic resilience. During the panel, Windows of Opportunity: Innovating for Shared Prosperity through Remittances and Global Connections, Benjamin Fernandes, CEO of Nala, emphasized the importance of remittances as a valuable economic resource. He called on governments to explore innovative ways to increase the flow of funds from the African diaspora. Gakii Mwongera, Director of Mobile Financial Services at Ericsson, echoed this sentiment, highlighting the financial challenges faced by sub-Saharan Africa.
Additionally, the panel underscored the importance of financial literacy and infrastructure development. Oluwabankole Falade, Chief Regulatory and Public Policy Officer at Flutterwave, pointed out how fragmented regulatory frameworks hinder cross-border remittance services. He and other panellists stressed the need for regulatory harmonization to facilitate smoother financial flows and foster deeper economic integration across Africa.
Amany Asfour, President of the Africa Business Council, advocated for developing a unified regulatory framework to attract investment and incentivize private sector participation. She stated, “To enable cross-border trade and interoperability, regulatory frameworks must be harmonized. This cannot happen on a country-by-country basis.”
Building a Unified Digital Economy Through Collaboration
Another key focus of the symposium was how cross-sector collaboration can accelerate Africa’s digital future. The panel titled Cross-Sector Collaborations: Investing in Critical Digital Public Infrastructure and Strategic Partnerships to Advance a Unified Digital Economy highlighted the importance of strong public-private partnerships in building digital infrastructure across Africa.
Ebenezer Twum Asante, Senior Vice President at MTN Group, emphasized the need to extend digital infrastructure to underserved rural areas. He highlighted the essential role of the private sector in making these investments but noted that supportive regulatory frameworks are critical for long-term success. Osaruyi Orobosa-Ogbeide, Senior Vice President at the Africa Finance Corporation, agreed and urged continued investment in infrastructure to support the continent’s digital transformation.
Peter Ndegwa, CEO of Safaricom, further pointed out that mobile network operators are pivotal in providing the connectivity layer necessary for digital transformation. He emphasized, “From an interoperability perspective, the connectivity provided by mobile networks is crucial, and continued investment in this infrastructure is essential.”
Digital Innovation as a Driver of Economic Progress
Throughout the symposium, keynote speakers highlighted Africa’s immense opportunity to leverage digital technology for social and economic progress. In a powerful address, Ghanaian President Nana Akufo-Addo stressed the importance of sound policy frameworks to unlock the full potential of digital technology. “Good policies create an environment where innovation can flourish, businesses can grow, and people can access services to improve their lives,” he said.
The African Continental Free Trade Area (AfCFTA) was also recognized as a potential game-changer for Africa’s economic future, especially with its digital economy initiatives. Akufo-Addo noted that interoperable digital payment systems could help drive economic growth and lift millions of people out of poverty by 2035.
AfCFTA Secretary General Wamkele Mene reiterated the connection between Africa’s political and economic goals and the necessity of rapid technological advancement. He said, “There is a critical intersection between Africa’s development objectives and the need to rapidly advance technologically to ensure inclusion and prosperity for our continent.”
Looking Ahead: Africa Soft Power Summit 2025
As the Forward Africa Leaders Symposium concluded, Nkiru Balonwu, Founder of Africa Soft Power, looked to the future, announcing plans for the fourth Africa Soft Power Summit in Nairobi, Kenya, in May 2025 during Africa Month. The summit aims to unite global and African leaders, innovators, and young emerging talent to discuss critical topics such as AI, tech policy, payments innovation, and women’s leadership.
“The 2025 Africa Soft Power Summit will unite visionary leaders to address pressing issues such as AI, security, women’s leadership, and climate change,” Balonwu stated. The summit will build on the momentum from this year’s discussions and continue driving action on Africa’s most significant challenges.
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