Entrepreneurship is hailed as a key driver for economic growth in Africa and creating an enabling environment for businesses to thrive is paramount to ensure long term sustainability.
This was highlighted during the 2017 Business for Africa forum in Egypt, which brought together business leaders and entrepreneurs from across the continent.
“We need to hold our governments accountable for failing to create the right conditions that would create the right environment for businesses to do well, for economic opportunities to advance because we are a continent that is hugely endowed naturally and there’s no reason why our young ones should suffer,” Tony Elumelu, chairman of Heirs Holdings told Claire Muthinji, Africanews reporter in Egypt.
Young entrepreneurs face various challenges as they get their ventures off the ground but these should not act as a deterrent.
“My main challenge is my age I think because today I get to be in a room with people the same age as my father. They say that the youth is the future of Africa but we want to be the present of Africa and try to create the Africa we would like to live in and this is our main challenge,” Joseph-Olivier Biley, Chief Executive Officer of Welfy Agric said.
African governments were urged to support entrepreneurs in order to create an ecosystem that will inspire more young people to remain and advance the continent in order to curb rising unemployment and stem the migration crisis.