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Entrepreneurship in Africa: Taken a step forward

Most people may agree that we have recorded the greatest feat by far in the history of entrepreneurship in Africa. Marked by a youthful dominance, increase innovation in technology, and involvement of both sexes, one can say that this is the new Africa.

A new Africa where economic constraints resulting in increasing unemployment rate did not only trigger demonstration against governments but also triggered young people to come out with innovative ideas and technologies recouping remarkable financial gains for them.

According to Mfonobong Nsehe, in his article published by Forbes,  this year’s call for nominations into the 30 Most Promising Young Entrepreneurs In Africa  attracted more than 250 entries from 23 African countries.

The story is captivating already and the future, from now seems brighter. Several areas of the economy have been exploited by these entrepreneurs and the results have been overwhelming. However, Agriculture remains a vital sector that can be further exploited for additional gains. 

Living in fear of projected mass hunger in the coming years, we still record high cases of spoilt agricultural produce in rural areas for reasons including poor transportation network. In times of bumper harvest we lose a chunk of farm produce due to inadequate storage facilities. There have been attempts to provide additional storage facilities however, efforts have not fully addressed the issue.

Up starters may choose to venture in food processing business. This venture adds value to agricultural produce and in the long run increase it monetary value. Raw materials appear to be readily available as agriculture remains a dominant occupation in Africa.

This venture will not only profit the entrepreneurs but profit the population at large. Farmers will now have a more ready market for their goods. Entrepreneurs can choose to go to rural areas themselves for the raw materials and this will curb the issue of rural folks not being able to transport their goods to urban centers for sale.

 The processing factory will definitely require additional hands and will see other people getting employed. The selling of the processed foods will also get additional individuals employed and this will to a greater extent, ensure a sustainable supply of food to the population.

Africa has gotten to a point in entrepreneurship where intellect and innovation are at play simultaneously. This paradigm shift has gotten old brands and ventures to re-strategize due to the economic turbulence in Africa. As much as we are recording such feats, we should also consider and develop entrepreneurial ventures which would be considered as win -win in an attempt to bridge the inequality gap in Africa.

Kwasi A. Akowaa

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Nate Greate

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