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African executives upbeat at continent’s prospects

CAPE TOWN – AFRICAN business leaders expect the continent’s entrepreneurial spirit to take off over the next three years.

This is on the back of the improved environment for business and greater political stability.

The findings are according to new research for blockchain-based mobile network operator, World Mobile.

The study with African business leaders from companies with combined annual revenues of more than US$6,75 billion found 70 percent expect improvements in the entrepreneurial spirit with 15 percent predicting a dramatic improvement.

One of the key reasons for the increase is the expansion of internet connectivity.

More than half (54 percent) expect dramatic improvements, the research among senior executives from Angola, Botswana, Cameroon, Ethiopia, Ghana, Nigeria, South Africa and Tanzania found.

More than nine out of 10 (91 percent) believe the environment for doing business in Africa will improve while 70 percent are optimistic Western countries will increase their investment in the continent.

Nearly two-thirds (65 percent) say greater political stability on the continent is boosting entrepreneurs while 59 percent believe better education will support new entrepreneurs.

Micky Watkins, Chief Executive Officer of World Mobile noted also, the African Development Bank estimated that Africa is the world’s most entrepreneurial continent with millions looking to establish businesses.

He said the business environment and political stability were important to help them but crucially, there was also the issue of internet connectivity which is vital for most new businesses.

“It is good to see business leaders are confident but more needs to be done,” Watkins said.

“Launching new businesses will help to unleash the potential of the continent and raise living standards,” said Watkins.

World Mobile is working with the government in Zanzibar where it is launching a unique hybrid mobile network delivering connectivity supported by low altitude platform balloons.

World Mobile is in discussions to expand in Tanzania and Kenya, as well as other territories under-serviced by traditional mobile operators.

– CAJ News

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