Entrepreneurship in Africa

As the continent still struggle to emerge out of the problems that are weighing it down (Corruption, political instability, debts and insecurity). Young Africans decided to bring their pieces to the reconstruction of the continent. Those pieces are met with innovation and aim at boosting the economy of Africa. As you may have guessed, Young African chose entrepreneurship as the pathway to lead to the continent’s development.

Entrepreneurship is commonly perceived as the activity of setting up a business or businesses, taking on financial risks in the hope of profit”. In this sense, young Africans are taking up spaces in the economic field and building businesses that showcase African lives and products. In fact, African entrepreneurs produce products that reflects different fields. Some can be agricultural, technology or fashion. Another design that falls under the same line but differently, is the Start-up. Such innovative model is highly present in the continent and attract many young Africans who desire to own a business. 

Why entrepreneurship? In fact, many young Africans take on this road for multiple reasons. First, being an entrepreneur is the best way to get one’s idea developed and bring to life. For instance, if you wish to commercialize shoes made from traditional African cloths or modernize traditional African ingredients or even open your own business and enterprise. Entrepreneurship gives you the opportunity to develop those ideas. Secondly, through entrepreneurship you get the chance to take charge of things. You have the responsibilities of your business actions and plans. Third, Entrepreneurship gives you the right to have a platform for your business and innovate your products.

Just like any other work, being an entrepreneur in Africa and in general comes with many obstacles and issues. Precisely on the subject of taxes and the distribution of products. Knowing that many local businesses are being overlooked on the national market makes it difficult for certain businesses to thrive. However, entrepreneurship remains an excellent choice of work and many young Africans aren’t afraid to take on such adventure.

Speaking of platform, African countries give the opportunity to their young entrepreneurs the chance to open their businesses quickly through the implementation of innovative, affordable and accessible systems. In Côte d’Ivoire, for instance, there is CEPICI. A system for investment and business creation.

What solutions can be brought to help young entrepreneurs? First, there need to be an exposure of the products of those young entrepreneurs, because many are unknown and still struggle to advertise their products. The governments could create fairs or events where these entrepreneurs could present their products and creations all while meeting new customers. Second, local products and businesses should be prioritized. There should be a platform for local businesses to distribute their products and market them just like the international ones. People should be attracted to consume local as well. Finally, the system in place shouldn’t take advantage of new entrepreneurs and their products. The taxes should be accessible for those businesses to grow and not consume their benefits.

by (A. Kouami Carlos)

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