Are you sometimes discouraged by the problems that plague Africa?
One of the indelible traits of an entrepreneur is boundless optimism. Maybe this is why I see opportunity where others see ‘problems’ and as such I am hardly discouraged by the challenges we face. In fact, when I look at the problems we face, I get inspired because all I see are significant opportunities for innovation and problem solving.
This does not mean that I like things as they are, but in my view, it would help if we talk less about the problems and focus more on the ways to solve them. For example, I believe that poverty is the root cause of insecurity, which is one of the biggest problems facing the continent. So, by solving the problem of poverty, you tackle insecurity. But while some people believe that poverty is best addressed through foreign aid, I feel entrepreneurship is a more effective way of getting people out of the poverty trap.
In Nigeria, the population growth rate is as high as 2.7%. At this rate, there could be 2 billion Africans by 2050?
As with other problems, population growth can either be a positive or negative thing. If we make adequate plans and channel all that potential energy and creativity in a meaningfull manner, it could radically transform the continent for good. The Tony Elumelu Foundation Entrepreneurship Programme is one means to address this issue and empower our growing population. The goal is for new entrepreneurs to create 1 million jobs and generate over $10 billion in revenue over the next decade.
Given the projected level of population growth, I know this is a drop in the bucket relative to what we need to do. However, it is one example of how individuals and organizations can help to ensure that the projected population boom does not become a disaster for the continent.
Have we witnessed a sea change for black people in Africa, who are now free to become the leaders and actors in their own development?
Absolutely! Up until university I didn’t think that Nigerians could own banks. The highest I saw a black man rise to in those days was the position of bank manager. But that was a long time ago.
In the fifty years since, we have made progressive strides in the areas of governance, economics and technology, particularly in the telecoms field, and we can expect even more progress in the years to come, most of which will be attributable to the private sector.
As more governments reform and strengthen the legal and regulatory environment and create an enabling platform for the private sector to perform, it will be only a matter of time before we conquer the world. The most impressive thing about this generation of Africans is that they are highly ambitious and global in their aspirations. Because of this, I am convinced that the next generation of innovators and business leaders in the world will emerge from our continent.
F ALCONER ISSUE 47
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