Thursday, 24 September 2015

Young Africans Agree that Entrepreneurship is Key to Job Creation

Young Africans Agree that Entrepreneurship is Key to Job CreationAngola, Ghana, Mozambique and Nigeria: A survey of 4,000 Africans aged 16 to 40 in Angola, Ghana, Mozambique and Nigeria during the second half of 2015 has revealed the prevalence of a strong entrepreneurship culture amongst young Africans, with almost half (43%) agreeing that entrepreneurs will create more jobs than the public sector over the next five years.The research report, entitled “Job Creation in Sub-Saharan Africa: Entrepreneurs. Governments. Innovation.” was commissioned by Djembe Communications, the pan-African communications consultancy and conducted by Forbes Insights. The results reflect the full extent to which attitudes are turning away from traditional sources of employment. In particular, there is widespread agreement that being employed by the public sector or an established company is not as desirable as it has been in the past. The majority of respondents agree that the industries that will create the most entrepreneurs in the next five years are technology (43%), natural resources (36%) and agriculture (33%).

The study garnered the opinions of Africa’s future business leaders; in particular what they considered to be the most important issues facing their country and what they felt to be the biggest barriers to success. Djembe Communications’ Managing Director, Mitchell Prather stated, “The findings reveal a widespread belief that job creation is the single most important issue in each of the four countries we surveyed. Moreover, it is clear that advancements in education, technology and innovation will serve as a catalyst for development.

This is exciting news in that it reflects a key demographic in Africa that is becoming increasingly entrepreneurial minded and will play an important role in creating new and sustainable employment opportunities in local markets.” “There is great value in committing both efforts and resources to such an initiative because what is at stake is job creation for our youth, potential reduction in poverty, and, ultimately, the sustainable development of our continent,” said Mr. Felix Bikpo, Chief Executive Officer, and African Guaranteed Fund.

In a region that is progressively looking to overcome challenges typical of emerging markets such as issues of transparency, income inequality and corruption, the survey found that young Africans are also looking towards entrepreneurs to advance their countries’ economies. Apart from creating jobs, there is a steady consensus that entrepreneurs are the key drivers of innovation, not just in terms of innovative products and services but also in terms of new management styles and working culture. Read More...


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