Lessons in entrepreneurship, from two of Africa’s most successful business leaders
One of the great challenges for Africa’s leaders is creating meaningful employment for our young people. Almost 30% of Africans between the ages of 15 and 24 are neither in work nor in education, and almost half of those who are working are in what’s called vulnerable employment. Africa’s most successful business leaders
Reversing this trend would require the creation of 100,000 new jobs, and that number is expected to rise dramatically, as Africa has the world’s fastest-growing labour force.
The only way we’ll create hundreds of thousands of jobs is by placing big bets on small businesses. Small and medium-sized enterprises (SMEs) represent 78% of jobs in low-income countries and more than 90% of all new jobs created each year. These businesses are the true global engines of employment. Increasing rates of entrepreneurship and accelerating the rate at which ventures grow is the only realistic path to creating enough jobs for the next generation. Africa’s most successful business leaders