Africa Looks to Its Entrepreneurs

Friday, May 13, 2016

With a majority of African nations diversifying from traditional sources of income, entrepreneurship is increasingly seen as a key to economic growth. So far, entrepreneurship has yielded huge returns for entrepreneurs, and according to experts, there lies great untapped potential to drive the African continent into its next phase of development.
A study released in June 2015 by Approved Index, a UK-based business networking group, ranked Africa as among the top of the entrepreneurship chart. As a testimony of the continent’s rising star, the Entrepreneurship around the World report listed Uganda, Angola, Cameroon and Botswana among the top 10 on the entrepreneurship list.

The group sees entrepreneurship as a ‘necessity’ at a time of high employment, saying: “When unemployment is high and the economy is weaker, people are forced to start small businesses to provide for themselves and their families.”

Today, entrepreneurship is seen as one of the most sustainable job generation tools in Africa. Roselyn Vusia, a  human rights advocate, points out that Uganda’s youth unemployment estimated to be 83% according to the African Development Bank’s 2014 report, is one of the highest in Africa.

Source: Bizcommunity (link opens in a new window)