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Thread: Entrepreneursip-The Key To Poverty Reduction In Africa?

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    Email problem wealth2012's Avatar
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    Thumbs up Entrepreneursip-The Key To Poverty Reduction In Africa?

    Doing this recession many people lost their jobs, savings and investments as a results the poverty level in the World went to a higher percentage yet those who have their own businesses still manage to live high life.
    Politicians are preaching about jobs creation but they don't even know how most jobs are created.

    Ok poverty reduction. Africa don't need aid and free money but partners and business opportunity. To actually create jobs and reduce unemployment, the government and private investors must encourage entrepreneurship. Entrepreneurs build businesses which in term provides jobs, and once people have jobs they can have the income needed to provide for their families. This can help the country as well because the money is going back into the economy. Guys hope this will be a good reading and educational post for the wonderful people on Forum SA.

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    Diamond Member adrianh's Avatar
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    No, they need to make less babies and learn to live off the land. People are much better off being able to provide food for themselves than working to buy MacDonalds.
    How easily someone is offended is directly proportional to how stupid they are.
    ~GS Elevator

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    Good day. I’m 31 years old youth who started an IT company and the company has been registered this year on the 02 February 2012 and got telecommunication projects from four companies : FNI, Protrench,SPE project Management and Hezeki Contracting company. Currently we are with Hezeki Contracting doing Ericsson network in fibre optic telecommunication

    Our problem is that we are running short of capital to buy tools, PPE and for salary and wages for that project . would you please advise us on how to get fund or investors so that we can expand our company.
    Last edited by Dave A; 02-Sep-12 at 07:13 AM.

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    Site Caretaker Dave A's Avatar
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    Post 3 illustrates what I saw as the fundamental flaw in the OP - a lack of understanding of the real problems of Africa.

    We've got enough people with the will to be entrepreneurial - it's our capital market capacity that is underdeveloped compared to Western economies.
    The trouble with opportunity is it normally comes dressed up as work.

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    Diamond Member Justloadit's Avatar
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    Every single entrepreneur experiences capital problems at the onset, it is no different here in Africa.
    What may be different in first world countries, is that family members or friends, who are usually the first line in making capital available may have more disposable capital available to loan, as opposed to Africa where the vast majority is living below the poverty line. This of course has given rise to "stokvels", unfortunately lack of business education on the recipient, usually loses the capital received very quickly.

    Basic business education is also a priority, and may be easier to grasp that traditional education curriculum than the population is currently exposed to. I actually wrote a very basic book, showing all the basic requirements to have a small business, written in very simple English, with many pictures and examples.

    I have always insisted that the education must be leveled at the opportunity the community will be exposed to, not this academic education that is currently forced on the learners. A typical example is the the teaching of accounting, history and some other academic subjects to a rural group of learners, in which the majority of the learners will probably land up in the agricultural sector.

    Why not change the curriculum, to teach all the basics in agricultural subjects, in which maintenance in electrical, mechanical subjects are brought in as part of the fundamental understanding of farming, equipment, chemicals and other important subjects to make them successful farmers.
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar and LED lighting solutions - www.microsolve.co.za

  6. Thank given for this post:

    BusFact (05-Sep-12), Dave A (02-Sep-12)

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    Site Caretaker Dave A's Avatar
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    One of the weaknesses I was considering adding was the inability to transition "from street vendor to supermarket owner", essentially moving from a survivalist micro business to a formal business with a structured growth plan. But on reflection it does happen.

    Lots fail to make the transition, of course - but I'm not convinced that's unique to Africa.
    The trouble with opportunity is it normally comes dressed up as work.

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    Diamond Member Justloadit's Avatar
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    A point to consider as well, many land up in a micro business because of survival, as they can not find a job, so the fact that they do not have the knowledge to jump into a small business, or if they do and fail is not surprising.
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar and LED lighting solutions - www.microsolve.co.za

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    Well I don't really agreed with the less babies. Too many people have died in Africa in due civil wars tribal conflicts so we need more people to rebuild Africa through education, entrepreneurship and leadership development. But I agree with on the living off land instead of building MacDonalds. eating these fast foods meals hasn't help us in the West so African must be very care about eating from fast foods restaurants.

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    Thanks for asking. Well in the U.S there are many ways you can apply for loans, grants, family and friends contributions and funds raising but I don't about the particular Country of yours. If I find any investment method I will definitely let you know.

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    Well I believe you that Africa can competes and has the entrepreneurs available but the capital market capacity is underdeveloped but it's more than that though. To have a thriving capital market the government must create an environment of trust and safety where outside investors can contribute to the development of the capital market.

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