Despite its economic dynamism and rapid growth of the middle class, Africa faces a significant problem: a lack of reliable data.

The lack of data is a barrier to investment and growth on the continent and a significant obstacle for investors and local businesses trying to make informed decisions. Bernard Laurendeau, founder of Enkopa Lab, highlights the importance of this data for decision-making in sectors such as banking, technology and retail, adding: “In consumer-related sectors, you need more granular data. Macroeconomic indicators from the World Bank or the IMF can help, but they are not enough.” The lack of adequate data hinders strategic decision-making, especially when it comes to investments. Businesses cannot adequately capitalize on opportunities, which limits their growth and innovation potential. The absence of reliable data, according to Laurendeau, limits economic opportunities linked to the growth of the middle class. Better access to data could then transform the continent for the better, seizing opportunities for growth, knowledge transfer and technology.

Africa is at a critical juncture, and collecting accurate data is becoming a strategic lever for its economic future. Artificial intelligence could provide some of the solution, but it is only a partial solution if it is not fed with accurate and up-to-date data. Bernard Laurendeau’s Enkopa Lab, in collaboration with another company (Cassie Inside), is working to create data feeds that provide real-time information and help businesses make informed decisions at the right time. Laurendeau is clear when he says that superficial data is not enough to attract investment: “Investors want depth. They are looking for actionable information, not just general data. You can no longer ask them for patience.” Many African countries are facing serious problems and crises. Violence, economic and climate problems, and insecurity are plaguing many African countries. Economists are calling for urgent solutions to revive the economy. With the ongoing attacks and the stalemate in peace talks, the demand for concrete measures is growing. A suitable database could be one of them.