East Africa is experiencing unprecedented improvement in literacy levels and access to post-secondary education.

Substantial investments have been made in providing access to education after the region’s realisation that its development is primarily hinged on its people’s ability to exploit scarce resources efficiently and come up with breakthroughs and innovations. That is only possible through quality education.

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In most cases, the quality of a nation’s people, rather than the quantity, determines the country’s competitiveness. That is why the Democratic Republic of Congo is regarded as a developing country despite its vast minerals and other natural resources.

For instance, DRC, with slightly over 86million people ranks 135 out of 157 countries in terms of human capital development, with a human capital index score of 0.37 per cent, according to the World Bank.

It means that a child born in Congo will be 37 per cent less productive in adulthood than a child who received a complete education and proper health care.

On the other hand, with fewer than 6 million people, Singapore has ranked the best country globally in human capital development. A child in Singapore is likely to be 88 per cent productive when s/he grows up as if she enjoyed complete education and full health.

However, both governments and private sector investment in education have not automatically translated into the grand innovations or industrialisation that Africa is craving for.

Employers often complain that the graduates, even those with First Class degrees, are still ill-equipped and lack the innovation and creativity required in the labour market.

Even as degree holders increase on the continent, Africa faces a shortage of skilled labour with the right attitude and mindset to confront the continent’s numerous challenges.

Fields such as Science, Mathematics, Entrepreneurship, health, Innovation, Technology, and Engineering, are still under-served.

From historical times to date, African education is dominantly clerical. That explains why graduates keep flooding the market, yet unable to innovate, leading to high unemployment levels on the continent.

In a 2014 study by the Inter-University Council for East Africa (IUCEA), the regulating body for higher education in the region concluded that most graduates churned out of the universities are half-baked.

If employees fail to innovate, it means businesses of all sizes are in danger. The danger will not stop at those businesses but instead, have a rippling effect on national economies.

People in academia, industrialists, and SME operators all have to work together to forge a mutual relationship that will address the market demands and skills gaps. Africa still has a great need for problem solvers.

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That is why at HCI, being an SMEs focused company; we believe you should be part of this year’s virtual Strategic Leaders’ Summit, which will take place on the 25th of February. Special attention has been given to discuss the collaborative role between academia and SMEs and how best this can be achieved.

The theme of the Summit is: ‘Transformation of Agribusiness and SMEs in the Digital Economy under the African Continental Free Trade Area (AfCFTA),

This is a must-attend conference because the Summit is known for its thoughtful private-public deliberations. You can register now by clicking here.

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