The Chief Executive Officer of T2, Mr. Obafemi Banigbe, has identified limited access to markets, opportunities and scale—not a shortage of talent—as Africa’s biggest development challenge.
Banigbe stated this on Wednesday while delivering a keynote address at the Omniverse Africa Summit 3.0 in Lagos, themed “Connected Future: Synergy for Impact.”
According to him, Africa has consistently produced exceptional talent and innovative solutions, but many entrepreneurs and innovators struggle to commercialise their ideas and expand beyond local markets.
“The challenge in Africa is not that we lack talent. The challenge is that many talented individuals do not have access to markets and opportunities to scale their innovations,” he said.
He noted that young Africans have repeatedly demonstrated resilience, creativity and entrepreneurial capacity, building businesses and solving complex problems despite operating in resource-constrained environments.
Banigbe highlighted sectors such as telecommunications, financial technology, digital commerce and mobile-based services as evidence of Africa’s growing innovation ecosystem, driven largely by solutions tailored to local needs.
Speaking on the continent’s place in the global economy, he stressed the need for Africa to move beyond being a consumer of innovation and become an active creator of global solutions.
“Our generation must answer a critical question: Can Africa move from being a consumer of the future to becoming one of the architects of the future?” he asked.
He argued that Africa’s development ambitions should not be limited to exporting raw materials but should include exporting ideas, technologies and globally competitive innovations.
Addressing shifts in the global economic landscape, Banigbe said evolving trade relationships, geopolitical tensions and rapid technological change present significant opportunities for African economies.
According to him, Africa’s long-standing experience of solving challenges with limited resources places the continent in a unique position to develop practical, scalable and impactful innovations.
“Africa is no longer waiting for permission to innovate. Africa is already innovating,” he said.
On the issue of connectivity, Banigbe observed that conversations often focus on infrastructure such as fibre-optic networks, telecommunications towers, satellites and digital devices while overlooking the broader value of connectivity.
He described connectivity as a catalyst for inclusion, opportunity creation and economic participation.
“Connectivity is not fundamentally about technology. Connectivity is about the possibilities it delivers and the opportunities it creates for people,” he said.
He explained that improved connectivity enables entrepreneurs to access larger markets, farmers to obtain critical market information, and students to benefit from educational opportunities that were previously inaccessible.
Banigbe further emphasised the importance of collaboration, noting that Africa’s future competitiveness would depend on stronger partnerships among governments, businesses, investors, research institutions and innovation ecosystems.
“The age of isolated success is ending. The age of ecosystem success has begun,” he said.
He urged stakeholders across the continent to embrace collaboration and build ecosystems that support innovation, attract investment and drive sustainable long-term growth and development.
