A firm-level path to Africa’s prosperity

By Nnanyelugo Ike-Muonso The firms are, without a doubt, the powerhouses of prosperity. As the centre core for the creation of output, it provides wage income for members of the household. Through commercial exchanges and economic interconnectedness, they create other income-making opportunities for many business units. It also gives the government the fiscal power to carry out obligations and...

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Poverty in Africa

In comparison to other regions of the world, Africa is the land of the poor. According to the UNDP multidimensional poverty statistics, 46% of sub-Saharan Africa live below $1.9 per day while 43.4% live below the national poverty line. Like the compounding law of prosperity, poverty begets poverty. The poor appear to be constrained within the poverty ecosystem unless a radical external factor...

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Entrepreneurial success beyond the State

In as much as the State ideally plays a significant role in the survival and growth of industries, the emergence and entrepreneurial success of groups that are into relatively homogenous economic activities without much of the support of government is possible. Factually, the government only plays a post-industry-take-off role involving the creation of level playing ground for entrepreneurial...

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Africa’s brand of entrepreneurship

Entrepreneurs do the same thing everywhere regardless of whether they are in Africa, in Europe or the United States. Their business is to make as much profit as is possible by optimizing other factors of production and their attendant risks. But these approaches to production organization and attitude to risk seem to underlie the differences in the brand of entrepreneurship in different contexts...

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Towards Africa’s inclusive prosperity creation ecosystem

Progressive governments want every segment of their society to share in generated prosperity. They strive to increase the number of citizens migrating from a lower to a higher level of well-being. The faster the pace of these upward migrations, the better it is for society and economy. Unfortunately, that is not the case for the African continent. There are significant economic disparities among...

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The role of the African Union in championing the apprenticeship model

The urgency for mainstreaming the apprenticeship system within the continent is evident. That also underscores its substantial adoption by some countries. Low levels of school enrollment, coupled with elevated levels of graduate unemployment, have made it imperative for some West African countries like Senegal and Ghana to rely on the scheme to narrow the gaps. According to the 2008 Africa...

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