Entrepreneurs are spurring Africa’s rise

According to a special new report published this week by the Wharton Social Impact Initiative and the African Leadership Network, entrepreneurs are spurring Africa’s rise. Many African nations face significant challenges, including finding solutions to addressing poverty and unemployment, but the continent is also home to many of the fastest-growing economies in the world, and entrepreneurs who are spurring Africa’s growth in unique and dynamic ways. So, what is driving leading African entrepreneurs’ optimism, tenacity and success in launching and growing businesses across the continent? Five key themes emerged in the report following indepth conversations with business leaders and entrepreneurs alike: Firstly, members of the Diaspora are returning home to make a difference and making contributions to the continent’s ongoing development; Secondly, more and more people around the world are recognizing the African opportunity and are being part of the success story; Thirdly, there is more of a willingness to understand, respect and harness cultural differences to make positive change happen; Fourthly, innovative entrepreneurs are creating brands that are both world class and distinctively African, and the world is loving them; and Finally, seizing the opportunities presented by the digital revolution to create effective solutions to key challenges and to make positive change happen. Combine these strategies with traditional business acumen, smarts, and drive and it is proof positive that entrepreneurs can do well and do good across the continent at the same time, helping to transform African economies and the lives of millions.