The Rising Scope of Job Creation and Entrepreneurship in Africa

Posted by Alex Smith on February 10th, 2021

Job creation and entrepreneurship in Africa relate intrinsically to each other. In fact, entrepreneurship is quintessential for the overall economic growth in a certain geographical area and is the prime requirement for effective job creation. Africa is a large continent with a huge amount of under-utilized workforce and natural resources. 

Despite the available resources and workforce, major parts of the continent lack the infrastructure for sustainable and all-round development and proper job opportunities. This is possible due to the lack of public relations in Africa. Enterprises aspiring to operate in Africa can make a big difference to this void. They can open the way for job creation, hence enabling many needful people to get employment and ensure overall growth for the continent. 

How Entrepreneurship matters for Job creation in Africa?

One of the most developed countries in the continent, South Africa, presently has an unemployment rate of about 25 percent. Although the country has registered positive economic growth rates for the past 17 years, the formal sector can still not provide adequate employment opportunities to the growing youth population and labor. This is not just due to the lack of infrastructure common to the entire continent but also due to the lack of entrepreneurship in the region. 

Job Creation and Entrepreneurship in Africa can make a huge difference through the creation of new ventures and expansion of existing enterprises. 

The turning around of Africa with the help of Entrepreneurship 

Doing business in Africa requires one to face several challenges, but the entrepreneurs in this continent can make way for a range of opportunities as well. This has attracted a number of major enterprises toward setting up new ventures in the country. Major companies are working with many private, government, and public sector organizations in Africa for several years. They are contributing effectively towards the growth and development in the region, leading to the growth of the employment rate and the overall GDP. 

Indeed, you need African solutions to solve African challenges. From creating jobs to enhancing social mobility and economic growth of the region, entrepreneurship stands to be monumental for the population's sustained growth and employment. Surveys show that job creation is the most important and imminent issue for the future of the Sub-Saharan region. Being rich in natural resources, agriculture, and natural resources are two of the most important industries that have the maximum potential for job creation through appropriate entrepreneurship and investments. Evidently, many companies are taking initiatives to improve their operational efficiency and public relations in Africa to imbibe more people into the labor market. 

Sub-Saharan regions and societies have an overall positive view about entrepreneurship, with a majority (56%) relying on them for job creation. Young entrepreneurs form the key to enhanced entrepreneurship for the development of the region and making ideal coordination of job creation and entrepreneurship in Africa. Many people express interest in starting their own businesses in the region. This, in turn, gives us the hope that the region has taken a step towards sustainable development and will soon move towards massive socio-economic development.