“Africa has too many businesses, too little business.”
That line, from a The Economist article, has stuck with many. And it echoed through the room during the opening conversation on the future of entrepreneurship at Sankalp Africa 2025.
From crowded marketplaces to mobile apps, the continent is buzzing with entrepreneurial energy. But how many of these ventures actually scale? How many go beyond hustle, to resilience, reach, and real impact? That tension was at the heart of a bold and unfiltered discussion.
One voice in the room put it plainly:
“Why are we still holding on to outdated models?”
That question captured the soul of the session, a no-holds-barred reflection on why Africa, despite its entrepreneurial energy, struggles to scale businesses that endure, expand, and lead globally. It was a call to rethink not just funding or policy, but mindset.
The Illusion of Abundance
Africa has no shortage of businesses, but too few that break out. This is not a talent problem. Nor is it about a lack of ambition. It’s about systems that don’t serve scale.
“If Africans don’t invest in Africa, who will?”
That challenge landed hard. Too often, capital flowing into African ventures is externally controlled, short-term, or misaligned with local realities. Entrepreneurs chase donor grants or pitch competitions, while long-term, trust-based investment, especially from within Africa, remains elusive.
We need more than check-writers. We need patient builders. Investors who see opportunity in complexity, and who are in it for the long game.
From Fragmentation to Functionality
Scaling in Africa isn’t just about capital, it’s about coherence.
Markets are fragmented. Regulatory environments are inconsistent. Entrepreneurs trying to expand across borders face multiple currencies, conflicting tax codes, and protectionist policies. The ambition may be pan-African, but the infrastructure is often hyperlocal.
“We talk about entrepreneurship like it’s just about grit and hustle. But it’s really about systems that either lift or stifle.”
If we want to scale African businesses, we must scale the systems that surround them: logistics, digital infrastructure, cross-border trade facilitation, and legal frameworks that enable, not block, growth.
Shifting the Narrative (and the Power)
Another uncomfortable truth emerged: Africans are too often seen by the global ecosystem as debt seekers or aid recipients. This perception is not just offensive, it’s limiting. It influences how capital is priced, how trust is extended, and how opportunities are shared.
“We’ve made money more important than purpose. And it’s showing.”
Scaling African entrepreneurs requires a rebalancing of power, where Africans are not just implementers but agenda-setters. This means control over capital, policymaking, and the platforms that shape the continent’s economic future.
What Needs to Change – Now!
Here’s what the session made clear must happen:
1. Mobilize Local Capital
Family offices, pension funds, and diaspora networks must begin seeing African entrepreneurship as investable, not charitable. Risk is real, but so is return. We need an African-led capital ecosystem that prioritizes depth over hype.
2. Create Entrepreneurial Muscle
Skills training isn’t enough. Entrepreneurs need help with supply chains, compliance, tech adoption, and access to real distribution networks. Incubators and accelerators must move beyond workshops to offer real-world scaffolding for scale.
3. Rethink Incentives and Aid
Aid must evolve. It cannot crowd out private capital or create dependency loops. Instead, aid should de-risk early-stage ventures, catalyze blended finance, and build foundational systems, from green infrastructure to digital identity schemes.
4. Invest in Climate-Smart Innovation
Climate change isn’t just a challenge; it’s an innovation driver. Entrepreneurs across Africa are building solutions in regenerative agriculture, renewable energy, and sustainable construction. These sectors are not side projects, they are the future of business.
The Generational Hand-Off
The most moving moment of the session came in its final line:
“If you have black hair, you have a lot to do. If you have grey hair, you’re here to give counsel and advice.”
It wasn’t just a poetic sendoff, it was a rallying cry. Africa’s future won’t be decided in boardrooms or donor tables alone. It will be built by young entrepreneurs, local investors, and ecosystem leaders willing to tear up old models and co-create new ones.
Now It’s Your Turn
If you believe African entrepreneurs are the future of global business, stop clapping from the sidelines.
- Invest.
- Mentor.
- Advocate.
- Partner.
- Build.
Because the next decade of African entrepreneurship won’t be defined by how many startups we launched, but how many we scaled.
Edited by Margaret Nakunza, based on the Opening Plenary at Sankalp Africa 2025.
This blog draws inspiration from the Opening Plenary of Sankalp Africa 2025, where Urmi Sengupta (MacArthur Foundation), William Asiko (The Rockefeller Foundation), Hedrina Dorba (African Development Bank), and Vineet Rai (Aavishkaar Group) shared their perspectives on what it will take to truly scale African entrepreneurs.
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