African entrepreneurship highest in the world

THE African continent’s entrepreneurship rate is the highest in the world.

This is most likely as a result of poorer countries’ inability to provide sustainable jobs and forcing especially younger people to start their own businesses and in doing so, provide work for others.

In South Africa, 22% of the population are starting their own businesses, while this figure is expected to rise even further in the future.

Analysts say that the current COVID-19 global crisis is creating an even greater urgency for people to start their own businesses with increased job losses and economies facing severe financial constraints.

Entrepreneurship is seen as a social responsibility as it plays a major role in job creation. These entrepreneurs enjoy the respect of their communities as they give back to the poorer areas from which many of them hail.

Generation Z (individuals born between 1995 and 2015) are quite adept of taking charge of their respective futures. According to a study conducted among students in South Africa, they show a high level of entrepreneurial spirit and the ability to create a financially sound niche for themselves. They see it as another form of liberation.

These game changers, among them many young women, are still hampered by limited access to funding and not enough support or a proper network. However, it is believed that with the needed infrastructure and support, these young people could change the continent’s future by uplifting themselves and others.