Why Africa Needs African Solutions

Africa is a great continent. Africa is one of the continents where every natural resource is found and yet, it is among the poorest. The continent is rich, yet poor. For years, as Africans, we have failed to harness our home-grown full potential to offer real solutions.

It is time to realize that Africa needs its own African solutions from the African people. Nobody from outside the continent will come to liberate the continent from the shackles of poverty, unemployment, and diseases.

Entrepreneurship is increasingly seen as a key to growth in Africa. This is one of the generators of employment opportunities in the continent, employing about 86 percent and contributing about 45 percent to GDP in most countries across Africa.

In Sub-Saharan Africa, SMEs are one of the biggest formal employers. According to the African Development Bank, 22 percent of Africa’s working population are starting businesses. In as much as this potential is promising, entrepreneurs in Africa continue to face immense challenges.

Here is a short video to shed more light on this:

Some of the challenges facing the SME sector in Africa include lack of capital, market access, skills training, as well as administrative barriers. The key to African economic power is in the hands of the private sector and needs to be tapped as soon as possible.

At the same time, in the Sub-Saharan region, about 40 percent of the population is under the age of 15 years. This makes Africa the “youngest” continent in the world. With a youthful and energetic population, Africa’s potential is unmatched.

Here is another interesting video.

Youth employment in Africa is a crucial component of the economic development of the continent. However, the lack of these employment opportunities is an unending battle that the continent keeps on fighting.

If you are looking to scale up your business, TEF Connect is offering you an opportunity. If you have a business idea and need pan-African training, these are the people you need at the moment. Through them, you will get to win 5000 US Dollars as seed capital.