Monday
May 15
2017

Social Enterprise Sector Is Missing Link in Africa Wealth-Creation Chain

Wealth creation in Africa has been stunted because countries have focused too much on the state to create new businesses, foster development and industrialize the economy. Sadly, poor Africans may have to come to terms with using development vehicles other than the state, which generally failed in the post-independence period, captured by corrupt interests or lacking competency.

State-led development demands high levels of capacity to co-ordinate, integrate and implement complex policies, strategies and partnerships. Such capacity requires not only political will but pragmatism — not ideological rigidity — and a public service employing the best talent available.

African governing parties have invariably lacked the political will, ideas and competent people to use the state effectively and intelligently to foster development.

The missing link in Africa is the social enterprise sector, which does not involve the state or foreign companies, but centers on social, community and nongovernmental organization-based businesses and entrepreneurs.

Source: AllAfrica (link opens in a new window)

Categories
Entrepreneurship, Investing
Tags
Base of the Pyramid, business development, entrepreneurship, social enterprise, social entrepreneurship