My message is simple: anyone can be a successful entrepreneur, regardless of their origin, ethnicity, or gender, and all successful entrepreneurs should be appreciated. All that is required is a collective contribution and support to our young talented and upcoming entrepreneurs. (Entrepreneurs from Africa)
Africa is a continent ripe for business, with some of the world’s fastest-growing economies prior to, during, and even following the global epidemic that brought other economies to a halt. Most African countries are expected to develop this year and next, according to the International Monetary Fund (IMF), with some growth expectations (9.2% for Senegal and 7.5 percent for Rwanda in 2023, for example) more than three times faster than those for the US economy in the same year.
The African Continental Free Trade Area (AfCFTA), which now has the world’s largest free trade area by the number of countries involved, promises to further facilitate economic growth and development on the continent by removing outdated trade barriers and prioritizing free and fair trade in the world’s largest domestic market.
Indeed, the situation of entrepreneurship on the continent has never been greater than it is now. Of course, there are clear paths to improvement and development, but Africans should be proud of their current condition.
It is past time for the rest of the world to notice this inspiring display of entrepreneurial energy.
In 2012, the Harvard Business Review published an essay evaluating what Africa’s entrepreneurs can teach the rest of the world, as well as how entrepreneurial business ventures directly contribute to economic progress and empowerment.
According to the essay, “entrepreneurship is the answer to the knotty economic challenge confronting Africa today,” and that “our global image of entrepreneurship has been impoverished by our unwillingness to study or embrace African entrepreneurship.”
I believe that ten years after the publication of this piece, business entrepreneurs have firmly grasped the baton and responded en masse, with Africa currently having the highest number of entrepreneurs among working-age individuals of any continent, according to the World Bank.
It is therefore critical that global firms, governments, and investors recognize the continent of opportunity’s culture of perseverance and hard work.
African entrepreneurs, whether from Nigeria or Angola, are a force to be reckoned with, a true force for good. They are a group dedicated to the continent’s continued development, and they have a right to be considered seriously on the international scene.
Most African-born and raised entrepreneurs will tell you that they are doing what they are doing to make a positive and genuine difference in the communities where they live. In my personal perspective, I grew up observing underdevelopment and poverty, but I always saw ideas blooming inside this setting.
The era of African enterprise has arrived, and we must recognize the advantages that come with it. The link between entrepreneurship and economic progress is undeniable, and I am a strong supporter of such tendencies.
The world must recognize that entrepreneurial innovation is an important component of global progress and should be embraced and rewarded regardless of where it originates.