Entrepreneurship is Rising Among African Youth

Young generation of Africans look for being innovative

May 30th, 2016

Entrepreneurship is attracting an increasing number of young Africans. A study done by the Global Entrepreneurship Monitor (GEM) published in 2015 stated that 60% of young Africans aged between 18 to 34 "are optimistic about the economic potential of entrepreneurship and believe they have the skills and knowledge required to create a business ". The same GEM study reveals that "less than 45% of young African entrepreneurs have completed their secondary school".

Another part of this youth, educated and more often coming from the Diaspora turned to entrepreneurship after the financial crisis of 2008. Many graduates and young professionals who had lost their jobs or were unable to integrate the labor market, feel that we were entering an era of instability, so they decided to run a business themselves. For economic reasons, the cost of starting a business in the sector is low, but also by social conformity, many headed for the digital sector.

The educated African youth is logically always more numerous to engage in entrepreneurship, often attracted by the prospect of easily acquired fame. This influx feeds the media machine.

The obsessive use of the word "innovation", which regards new concepts and technologies, was developed in the Western countries. Indeed, this process prevents serious reflection on ways how to foster a culture of innovation that African countries need specifically in the crucial areas of health, education, energy, agriculture.

 Innovation should be a priority of African states and they should develop policies to stimulate creativity. Their commitment should be reflected in the budgets allocated to education, culture and promotion of open societies in order to foster knowledge and progress.


Cultural Diplomacy News
Adam Slezak, CD News