Africa has the greatest rate of entrepreneurship in the world. The African Development Bank (AfDB) estimates that 22% of Africa’s working-age population is launching their own enterprises. The entrepreneurial environment in Africa is predicted to develop tremendously in the next years, fueled by growing digitalization, younger generations who grasp the relationship between entrepreneurship and the future of employment, and the expansion of innovation across the continent.

Increased Emphasis on Social Responsibility

Entrepreneurship is regarded as socially responsible by definition, owing to the critical role it plays in employment generation. However, continued initiatives that benefit local communities and larger social systems are still required. While there is pressure on companies, in general, to positively contribute to society, entrepreneurs have an even higher bar. This is because entrepreneurs are often seen as leaders in the region/industry/area of expertise in which they operate. The more a business “gives back” to the community, the more visibility and support it receives. When determining which entrepreneurial projects to invest in, funders will prioritize social impact more than ever before. As a result, entrepreneurs must carefully analyze their company operations in order to add social upliftment mechanisms, if they are not already part of their functioning business model.

Read More... https://9jawatchtower.com/how-african-entrepreneuship-trends-has-influenced-the-world/
Read More