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WFMauritius Speaker Interview: Julius O. Akinyemi, Entrepreneur-in-Residence, MIT Media Lab

02.06.2016

Julius is the Founder and CEO of UWINCorp Inc. (The Mobile Commodity Exchange) – an initiative of Unleashing the Wealth of Nations he started at Massachusetts Institute of Technology’s Media Lab. Julius is also the Entrepreneur-In-Residence at MIT’s Media Lab in Cambridge, Massachusetts. Prior to his residency at MIT he was Global Director of Emerging Technologies for PepsiCo Inc. Prior to joining PepsiCo, he was the Senior Vice President of Wells Fargo Bank in San Francisco for Emerging Technologies and the Wireless Business Technologies for Mobile Banking. He was a member of the US Mobile Finance Steering Committee of the Financial Services Technology Consortium and Bank Information Services (BITS). Julius obtained his MBA from Ohio University; he holds a couple of intellectual property patents.

 

 

Julius O. Akinyemi, Entrepreneur-in-Residence, MIT Media Lab

 

Women’s Forum: Why did you choose to be a speaker at the Women’s Forum Mauritius 2016?

 

It is an honor to be asked to speak at the Women’s Forum, more importantly, I believe that Africa needs to unleash and mobilize the mostly untapped and neglected wealth in human capital of her women for wealth acquisition and growth and for a better Africa and a better world. This will be my pleasure to discuss so we can urgently avoid the opportunity cost.

 

 

Women’s Forum: In your opinion, how does the climate challenge impact SIDS and Africa?

 

It has impacted SIDS and Africa Economically   through the destruction of sources of income, drought, land erosion, increase in surface temperature etc. all these effects erode the potential of human sustainability economically. It has also impacted the Standard of living with the bottom of the pyramid being the most vulnerable and the least capable to avoid such impact e.g. – dumping of toxic wastes on Africa -Ghana’s sprawling  slum, which is known to many by its nickname, « Sodom and Gomorrah »  as one if not the world’s worst digital dumping  grounds. The above are  more pronounced in SIDS communities that are among the most vulnerable to climate change, with largely adverse effect – Sea Level Rise, Surface temperature etc. and the least capable to avert the effects of such catastrophes. This is just to name a few.

 

 

Women’s Forum: In your opinion, what are the first steps towards overcoming it?

 

  • Identify and agree on sources of the problem and agreeing on culprits.
  • Agreeing on immediate actionable and realistic corrective actions.
  • Compensation for affected entities in a way to discourage further damage and encourage sustainability based on economic incentive.

 

Some of the above are on-going based on the UN Sustainability resolution based on the COP 21 Paris Conference.

With the above said, my conviction is that nations’ wealth is measured by the GDP – an aggregate of the value added through services and production to the good of humanity. Since the nations’ GDP also produce the  “NEGATIVE VALUES” to humanity in terms of Green House Gas effects, such negative values should be a net to the current GDP and make available to the SIDS and lease able to avert such negative effects that knows no national boundaries (I will be discussing this in full).

 

So I recommend that we:

  • Rebase the GDP to include negative effect of environmental impact of domestic product of nations.
  • GDP is value add to society therefore the cost to society should be deducted from the GDP for a TRUE GDP measurement.
  • I will like to see a “World’s Green Bank” to manage the valuation and redistribution of negative GDP values to the least GHG offensive nations this then becomes the economic incentives or disincentives for sustainability.

 

 

 

Click here to register for the Women's Forum Mauritius 2016!