Africa always lag behind when it comes to technological advancements. Just ask yourself what is the latest technology development from the continent that has shaped the world and adopted across the world?

Most of the new technologies are developed in the west and Africa comes last in adoption. Why does Africa come last? Slow economic development and a small viable market. In Africa foreign investors get a good return on investment when they invest in North Africa, West Africa (Nigeria), East Africa ( Kenya) and Southern Africa (RSA).

There has never been a case where new technology was first introduced on the continent on countries with small populations such as Mauritania, Djibout, Swaziland, Botswana or Namibia.

In Sub Sahara it all starts with Nigeria because of its huge population, Kenya due to its strategic location and lastly South Africa. He rest of the continent follows suit.

For tech opportunities, its therefore important to follow latest developments in the west and implementation schedule for the rest of our continent.

What is important is the developed world has gone digital and there is a fight to win technological wars. China is emerging as a force to reckon with and now competing with western powers in the area of 5G.

What opportunities exist for SADC Citizens?

South Africa is sending experts in various fields to India where the buzz word is Fourth Industrialisation. Everyone is talking about 4IR, radios, televisions, newspapers and even billboards.

SADC like in the past, there is little discussions around the area and once more,we will play the catch up game!

The 4IR Value Chain

Artificial Intelligence

Block chain system integration

Internet of things

Cyber security

Cloud computing

Additive manufacturing

Augmented Reality

Big data

In all of the key components listed above, there plenty of opportunities with a lot to be discovered…no one knows them yet but trigger systems or devices will come like the smart phone which opened new doors for a lot of opportunities.

Whoever imagined that there were going to be almost free phone calls? How about rural areas being connected to the internet and social media? Whoever imagined that traditional banks would take a hit from mobile money platforms?

Did you dismiss crypto currencies when they hit our shores? They are going nowhere-here to stay and eventually replace central banks. Impact of social media on newspapers? The music industry? A lot of disruptions are on the way and in Hongkong they have licenced their first virtual bank. Who will own the first virtual bank in South Africa?

Who will open the first drone services company in Malawi? Who will provide Big Data services and support in Lesotho? Who will open an Augmented Reality theme park in Zimbabwe? Who is providing cyber security services in Namibia?

A lot of new industries are going to come up and a lot of others folding as well. The UBER and Taxify business models are creating tonnes of opportunities in South Africa. New thousands of jobs created and early adopters enjoying their time in the sunshine…disaster waiting for traditional taxi industries.

The shock collapse of a top British firm Thomas Cook sent shivers down the spine of many across the globe…there is more coming! Disruptors are targeting every field or sector-agriculture, mining, transport, tourism, financial services, education, government systems etc

4IR Skills

Many are of the view that computer coding will be a key skill and a lot of parents are enrolling their kids for the courses. However a leading professor from a South African University challenged this. In fact the key skills needed do not necessarily depend on coding but cover the following;

• Complex problem solving.
• Critical thinking.
• Creativity.
• People management.
• Coordinating with others.
• Emotional intelligence.
• Judgement and decision making.
• Service orientation.

So here is your checklist

Are you following tech developments across the globe?

Are you continuously developing your skills and aligning them with the tech future?

Do you ever discuss 4IR with friends, colleagues or your network?

At your company or in your business, do you have a 4IR compliant strategy?  

Legend has it that a man visited a remote village and told villagers that he could buy monkeys for $50 each. The villagers could not believe the good news till he bought the first 20 monkeys.

Everyone ‘saw that he was genuine’ and started hunting for monkeys for sale. Huge returns were realised till the forests were almost empty of monkeys.

The visitor came back again (they always do) and offered a higher price of $100. The villagers worked hard, waking up as early as 2:00am scouring the forests and mountains. Only a few managed to get them and selling at the premium price.

Then the visitor increased the price bait to $200 and promised to return the following month. A friend of the visitor came to the village selling monkeys for $150 and the villagers bought all of the monkeys in anticipation of the selling price of $200.

Then the unthinkable happened – the buyer who had promised $200 never returned leaving villagers to count their losses.

This is how ponzi schemes are designed 101. Citizens minding their own business witness ‘visitors’ who create opportunities from ordinary products or services. Those who grab opportunities swallow the bait  igniting a scramble -who doesn’t want money? When the visitors have made a targeted profit, they perform a disappearing act leaving many with huge losses.

Does the Chihuta business model come to mind?

How about MMM business model?

Can we add the Sack Potato model?

How about some network marketing business model?

New churches or religions?

The forex market scam

A few buyers come up with a target amount of forex they need from the street. They craft a strategy in phases.

The first phase: Currency rates slowly go up.

The second phase: The rate of increment spikes moderately.

Like the villagers and the monkey business-everyone rushes in in the second phase. Meanwhile, the buyers have not reached their target. So they increase the rate for the final time. The whole nation panics, a scramble to buy goods kicks in, some move to the market to trade forex.

Targeted forex amount reached-the market then crashes with the prices of monkeys going rock bottom. After all-monkeys have little value in the village!

Check rates movement around September to October every year or bi-annually!

Now some youngsters in the village have mastered the technique. Whenever the visitors come, they gladly participate in the monkey hunting business. They fetch a targeted number of monkeys, sell and then return to their ordinary business in the village. They don’t wait for the second buyer or seller to come but leave unsuspecting new villagers to participate in the scam. When new villagers burn their fingures, they will learn the hard way and some swear never to hunt for monkeys ever again.

With time, the visitors now know that villagers are trying to beat them to their game and up the ante. This is not a win win situation; someone has to be scammed-visitors always WIN.

Who changed money at the rate of 1:13?

Who moved in when the rate hit 1:17? The first bait…

Who rushed in when the rate hit 1:20? The second bait…

Who gate crashed when the rate hit 1:25? The final bait….

In Shona we have a saying ‘Kana kangoma koririsa? Now the rate has crashed (they always do)….the visitors are nowhere to be found and villagers will have to lick and nurse their wounds. Its game over! Elders in the village will be providing counsel saying we told you so dint we? Takabva neko kumhunga…Ndamba kuudzwa?

Next year, there will be new youngsters oblivious of the game or will defy advice from the elders of the village and the cycle will continue ad infinitum!

Next time, the visitors may even come with a different bait so as to overcome resistance from enlightened villagers.

Lessons from the Bitcoin Bubble

Did you witness the Bitcoin value shooting up to US$20.000 in December 2017? Then it crashed to US$4.000? Hundreds of millions were lost in the process and sadly its not documented. The only documentation that exists is that of Zimbabweans who lost US$6 million to the ponzi MMM scheme. No statistics exist of how much street traders lost due to the currency volatility witnessed over the past few days. The absence of statistics or lessons leant means there will always be ample room for more such schemes.

Had the villagers ignored the monkey buyer, they would not have lost out. The monkey buyer knew that fast money or fast returns will always attract multitudes. Whilst village elders will be resisting, the young generation wants quick returns

Final word

Be wary of visitors. The first visitors on African Soil were traders and merchants. They provided the bait and locals swallowed line, hook and sinker…the first phase. They kept on coming with all sorts of goodies developing more trust…second phase. In the final phase they came with guns and took over ownership of all African resources!

From our third upcoming book: Business Opportunities for Zimbabweans 2020 Edition.