Browsing: Africa Entrepreneurship

The report indicated that AfCFTA has the potential to attract greater FDI, required for Africa to diversify into new industries such as agribusiness, manufacturing and services. The report projects that this could create 18 million new jobs by 2035, with 2.5 per cent of the continent's workers moving to new industries. In addition, more significant FDI could raise Africa's exports to 32 per cent by 2035, with intra-African exports growing by 109 per cent, especially in the manufactured goods sectors. All countries will record an intra-African export increase, such as Tunisia by 165%, Cameroon by 144%, Ghana by 132%, Tanzania by 126% and South Africa by 61%.

Breaking trade barriers will increase investment and export sectors likely to grow the most: textiles and apparel, rubber, chemical and plastic products, and processed foods. Deeper integration would lower trade costs and boost capital inflows, bolstering exports from service sectors such as communication,…

The Fund’s portfolio firms have also generated substantial impact at scale in recent years, reaching over 136 million Africans with inclusive and digital solutions.

For every dollar spent, more than one user on the continent benefits from the investment.

The Fund has been responsible for creating and maintaining approximately 1,400 direct employment with its current portfolio, and women make up an average of 35% of the workforce.

The Fund will support African entrepreneurs in their efforts to scale the breakthrough technologies they have developed across Africa and beyond. Additionally, the Fund will continue to support global entrepreneurs in their efforts to expand their businesses into Africa…

Even though the EU delegates admitted that; “We recognised, everybody, does, that there is an unbearable vaccination gap that has to be closed … between Africa and Europe,” the diplomats still said no vaccine patent waiver for Africa.

Also, despite scientists warning of the possibility of new Covid variants developing in Africa and the fact that just 5 per cent of Africa has been inoculated, the EU still said no to easing vaccine access to Africa.

The African Union (AU) had expected some sought of EU backing for targeted and time-limited Trips Waiver on vaccines. Trips stand for: Trade-Related Aspects of Intellectual-Property Rights and a waiver would have made it affordable for Africa to produce the vaccines in Africa.…

Kenya is one of the most diversified and fastest growing economies in Africa, with an average growth rate of 5.7%, inching closer by the day to its ambitious vision of becoming a middle-income country in the next decade. Central to this robust growth has been the invaluable contribution made by co-operatives, popularly known as Savings and Credit Co-operative Societies (SACCOS); which not only play a pivotal role towards the country’s Gross Domestic Product (GDP), but also leave an ineffaceable mark in the lives of millions of members, so much so that the country was recently selected in a series of country studies by the renowned international co-operative research group, the U.S Overseas Co-operative Development Council (OCDC).  …

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Bic, the French manufacturer of pens has been running a programme among Kenyan schools that aims to strengthen the entrepreneurial skills of young minds and at the same time helping promote conservation spirits.

The BIC Education Challenge launched late last year as a partnership between BIC East Africa, the BIC Corporate Foundation, and Enactus Kenya. The challenge which focuses on fostering better learning conditions by promoting social entrepreneurship and innovation in education saw submissions from students from all over the country. Five shortlisted projects were invited to present in front of a panel of BIC experts at the BIC East Africa headquarters in Kasarani.

The competition is supported by Enactus, the world’s largest experiential learning platform dedicated to developing the next generation of entrepreneurial leaders and social innovators. The Enactus network of global business, academic, and student leaders are unified by their vision—to create a better, more sustainable world.

Various …