During the African Forward Summit, which was held in Nairobi, Kenya, the African Space Agency called for an increase in investment into the African space industry. The agency also called for private-public collaboration, which will be aimed at accelerating growth in the African space economy.
A Call For Greater Investment In The African Space Industry
The African space economy is growing at its own pace, and at the just concluded African Forward Summit, there was a call for more investments into the industry. Tidiane Ouattara, the President of the African Space Council, made this call during his speech at the summit’s Business Forum.
This call was made in the presence of political leaders, investors, innovators, and industry stakeholders who were present at the summit. These investments will include ground and space infrastructure, talent development, and downstream applications and services.
Such investments will be made possible through private-public collaborations between local and international bodies. Present at the summit was Emmanuel Macron, the President of France, and he announced a €23 billion in investments for Africa.
This investment will target energy transition, artificial intelligence, digital technologies, agriculture, and the maritime economy in Africa. Ouattara highlights the support these various economies will have from the African space sector with proper investments.
Through proper investments, the African Space Agency will be able to help Africa better compete in the global space economy. Details on private and public investments into Africa’s space economy will be made available in future.