Boston Consulting Group (BCG) has advised African governments to collaborate with the private sector to build smart cities.
Its Managing Partner, Tolu Oyekan gave the advice during a session on “Megacities: challenges and opportunities of unbridled urbanisation”, at the Africa CEO Forum in Cote d’Ivoire.
The BCG partner and the discussants identified various ways by which African governments could collaborate with the private sector to respond effectively to the expected population growth through affordable housing, green and smart solutions.
The session was attended by Vice President, Cross-Cutting Solutions, International Finance Corporation (IFC), Emmanuel Nyirinkindi; Managing Partner, Okan Africa, Amaury de Féligonde; CEO, Group Vivendi Africa, Marco Aurelio De Assis; Minister of International Cooperation, Egypt, Rania A. Al-Mashat; and Cote D’Ivoire Minister of Planning and Development, Kaba Niale.
Citing United Nations’ prediction that African cities’ population would double by 2050, Oyekan said the situation was likely to overwhelm the capacity of urban cities on the continent.
Oyekan, who is also the head of BCG Nigeria, said: “Following the trend, issues such as migration and the potential continued pressure that could create come to the fore. For instance, a city like Lagos gets about 100 new residents per day. There is the issue of climate change- with the expectation that cities will experience climate refugees if non-urban areas are not able to adapt appropriately. It is, therefore, important for governments in collaboration with the private sector to think about increasing digitalisation and the potential to create smarter African cities.”
He identified some of the urgent needs as good housing, education, health care and food security, adding that infrastructure such as strong multi-modal transportation network and electricity were necessities.
According to him, an inclusive economic framework that enables all demographics – women, men, youth, elderly, disabled – to access jobs that enable dignity or support self-employment and entrepreneurship will be required.
He asked the panelists to particularly speak to the climate impact of the population surge and possible solutions to mitigate the impact.
The subject matter experts spoke extensively on the challenges and opportunities in a period of rampant urbanization, focusing on climate action, the development of clean energy, road network optimization and rapid construction of affordable housing.
Oyekan engaged the business and government leaders on the role of financial institutions in providing risk assessment and funding for sustainable infrastructure and clean energy projects in future African cities. BCG’s diverse team of experts bring deep industry and functional insights as well as a range of perspectives to topical industry issues.
The ACF 2022 was a platform for international organisations, policy makers and business executives to connect and brainstorm on growth strategies for the continent.