There are lots of enthusiastic young social entrepreneurs in Africa, but there is little support to help them realise their dreams, according to a report launched during the first day of the Sankalp Africa Summit in Nairobi, Kenya. Stephanie Bauer, senior manager at global enterprise consultancy firm Intellecap which published the report, explains why the ‘enterprise pyramid’ needs to be inverted.
With almost 200 million people aged between 15 and 24 – and predictions that this figure will double by 2045 – Africa is the youngest continent in the world.
Due to the lack of opportunities for traditional, waged employment in the continent’s labour market, Africa’s vast numbers of young adults are exploring entrepreneurship at scale.
While many are starting businesses because of a lack of other options, there is also a growing trend of young people choosing entrepreneurship over secure white-collar jobs, not only to make profits, but also to address social issues.
