The Power of Diversity, Equity, and Inclusion: Unlocking Innovation and Business Growth

At the recent Business Week Afrika (BWA) summit, a remarkable statistic was brought to light by Anthony Mwangi the CEO of the Kenya Association of Manufacturers (KAM) – a $3.4 trillion market is set to open up in Africa through the African Continental Free Trade Area (AfCFTA). This staggering figure highlights the immense potential across various sectors, many of which are already seeing rapid growth across the continent. However, as businesses rush to capitalize on these opportunities, it is critical to understand that true innovation and sustainable growth can only be achieved by embracing diversity, equity, and inclusion (DEI).

Rapidly Growing Sectors in Africa: The Opportunity for Business

Africa is undergoing significant economic transformation, and several key sectors are leading the charge. According to the African Economic Outlook 2024 Report by the African Development Bank (AfDB), sectors such as agriculture, technology, renewable energy, and healthcare are witnessing exponential growth.

- Agriculture: Africa's agriculture sector is expected to reach $1 trillion by 2030, driven by increasing demand for food and agricultural products. Innovations in agri-tech and sustainable farming are also creating new opportunities for businesses. As part if its Agricultural Transformation Agenda, AfDB supports the realization of key Sustainable Development Goals through the development of an inclusive and competitive African agribusiness sector. One of the recommendations in the Feed Africa Strategy Report is to take affirmative action for increased participation by under-represented actors in Agricultural Value Chains Development particularly women, youth, rural populations and farmer associations. This is underpinned on inclusivity and sustainability.

- Technology: The tech industry is booming, with Africa's internet economy expected to contribute $180 billion to the continent's GDP by 2025. According to e-Conomy Africa 2020, a study by Google and the IFC - International Finance Corporation, a member of the World Bank Group; fintech, e-commerce, and digital services are particularly strong growth areas. This is further supported by the investment thesis developed by BFA Global through the Jobtech Alliance that appreciates the boom in jobtech platforms that are digitally oriented across a plethora of service sectors.

- Renewable Energy: As the world shifts towards sustainable energy solutions, Africa's renewable energy market is rapidly expanding. The International Renewable Energy Agency (IRENA) projects that the continent's renewable energy capacity will grow by over 60% by 2030, with significant investments in solar, wind, and hydropower. The New Deal for Energy in Africa Strategic Plan 2016 - 2025, by AfDB is also designed to unlock productivity potential across agribusiness zones and hubs as well as industrial value chains in all economic sectors in rural and urban areas with a focus on reaching the underserved populations across the continent.

- Healthcare: The healthcare sector is also on the rise, with increased investments in telemedicine, medical technology, and pharmaceutical production. The COVID-19 pandemic highlighted the need for robust healthcare infrastructure, leading to accelerated growth in this sector.

These sectors present immense opportunities for businesses to innovate and expand. However, leveraging these opportunities requires inclusive strategies that tap into the diverse talent pool across Africa.

The Innovation-Driving Power of Diverse Teams

Numerous studies underscore the positive correlation between diverse teams and enhanced innovation. Companies that actively pursue inclusivity benefit from a broader range of perspectives, leading to more creative problem-solving and better decision-making. An article by McKinsey & Company reports that companies in the top quartile for ethnic and cultural diversity on executive teams were 33% more likely to have industry-leading profitability. Furthermore, firms that embrace gender diversity are 21% more likely to outperform their peers.

Despite this data, many institutions remain mired in subconscious biases and exclusive practices. While there are legal protections against individual and institutional discrimination, such as article 27.4 of Kenya's constitution, our day-to-day behaviors often fall short. We are conditioned by our privileges and societal norms, much like the "5 Monkeys In A Cage" analogy, where outdated practices are perpetuated without question. This apathy can lead to environments that stifle innovation by failing to fully engage the diverse talent that could drive growth.

27.4 (a) The State shall not discriminate directly or indirectly against any person on any ground, including race, sex, pregnancy, marital status, health status, ethnic or social origin, color, age, disability, religion, conscience, belief, culture, dress, language or birth. (b) A person shall not discriminate directly or indirectly against another person on any of the grounds specified or contemplated in clause

Breaking Down Barriers: Stories of Inclusion

In the face of these challenges, several groundbreaking initiatives are leading the way in promoting inclusivity and breaking down barriers.

1. AkiliCash: Brian Ndiritu, the visionary behind this platform, is not only advancing financial education through gaming but also advocating for economic justice for disenfranchised communities. AkiliCash seeks to prioritize demographics that are often overlooked, proving that innovation can also address broader societal inequities. Another startling statistic by the World Health Organization highlighted by Ace Mobility CEO Daniel Gatura points to 16% of the world's population, about 1.3Bn people, experiencing significant disability and we face significant risks for reduced mobility the older a population becomes. This raises questions about how we codify accessibility in systems, infrastructure and even product design, reminding us that inclusivity must be central to innovation. Patient capital and access to it for PWDs however remains a significant hurdle, even as the socioeconomic benefits of investing in them are becoming increasingly evident.

2. Riziki Source: Led by Kennedy Okongo Odhiambo , this initiative focuses on creating an inclusive marketplace for people with disabilities (PWDs) by addressing both the corporate sector's capacity gaps and the skills gaps of PWDs themselves. This in itself a response to the broken education infrastructure for people with special needs. This disparity is a major barrier to inclusion. Riziki Source is leveraging technology to bridge this gap. Its digital marketplace on the Google Play Store is a promising example of how innovation can enhance accessibility and in itself a platform for socioeconomic justice

3. The Freedom Fund and Azadi Kenya : Modern-day slavery remains a pervasive issue, driven by broken socioeconomic systems that disproportionately affect disenfranchised communities. Antonia Musunga and her team at these organizations are working to provide long-term support, build capacity, and advocate for inclusive policies that protect minority communities. Their work underscores the intersectionality of discrimination and the need for systemic change.

4. Kayana Create: Mrs. Patricia Okelo is building an inclusive community for women in business, advocating for an environment that allows them to thrive and influence their value chains. Her work is a testament to the power of inclusion in driving economic empowerment and innovation.

5. Agnes Maghema, the founder and CEO Msizi Insurance highlighted some of the exclusionary practices within the insurance sector that disproportionately affect women and her lobbying for innovative insurance products geared for just women.

5. National Gay and Lesbian Human Rights Commission (NGLHRC) : NGLHRC is at the forefront of advocating for the rights of sexual and gender minorities in Kenya. Our work extends beyond litigation and legal aid to include capacity development for actors within the judicial and correctional systems, challenging misinformation and fighting for the rights of some of the most marginalized groups in society.

6. Hivos : Hivos Foundation champions for Gender Equality, Diversity and Inclusion. In being an advocate for equality and justice they support the development of alternative solutions to deep-seated problems so that individuals and communities can make responsible and equitable choices within political and economic systems that serve their needs and preserve the planet. They are creating an inclusive world through platforms such as Free2BeMe offering alternatives to those looking for solutions in their fight for social and environmental justice.

7. Enua Kijana Afrika - Enuka : Carolyne Ogake Momanyi and her team are on a mission to we empower young Africans and cultivate Future Leaders through Afrocentric Youth Development. They blend ancestral wisdom with modern opportunities to build their capacity as business leaders.

Building Inclusive Communities for Sustainable Growth

As we explore these initiatives, it becomes clear that representation, especially of minorities, is crucial for fostering inclusive communities. Yet, even in environments that accommodate these conversations, subconscious exclusion and erasure persist. History has shown us that discrimination not only stifles expression but also hinders innovation. To create a future where inclusivity is more than just a buzzword, we must make it an inherent part of our interactions and practices.

The journey toward inclusivity involves unlearning, learning, and relearning. It challenges the status quo, often exposing the exclusionary practices that many consider aspirational. But by understanding the intersectionality of discrimination, we can begin to appreciate that no society can truly claim to be free or developed until its most disenfranchised members have equal access to their human, social, and economic rights and freedoms.

As Ms. Susan Githaiga aptly put it, inclusion is not just about an invitation to the party – it’s about feeling welcome to dance without asking for permission. It is time we all start advocating for that right, here and now.

I appreciate Salma Ibra, Stacey Nduta and their teams for putting this together and creating an inclusive platform for collaboration at Business Week Afrika