How women African entrepreneurs can overcome the “beauty pageant problem”
By Miishe Addy, co-Founder and CEO of Jetstream Africa, an e-logistics startup building digital infrastructure for African supply chains.
Growing up, I thought that the women in my family were remarkable. They had strong entrepreneurial instincts, and built businesses from scratch using only their intellect and the resources around them. My eldest aunt founded a thriving restaurant, spun off a catering business, and turned her car into a taxi service while she was at work. Her younger sister founded a crèche and scaled it up to a 200-student primary and secondary school. My great-grandmother, born in the late 1800s, was a self-made businesswoman in Accra and the breadwinner for her family.
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Over the last decade, Africa has witnessed the emergence of a dynamic start-up scene in some of its countries. The district of Yaba, in Lagos, Nigeria is one example. In Yaba, young educated people are supported by a network of incubators, accelerators and other support facilities. This entrepreneurship cluster has taken advantage of the nearby presence of many Nigerian higher education institutions, such as the Yaba College of Technology, the University of Lagos, or the Federal Science and Technical College for students and facilities.
The manufacturing sector has traditionally been seen as an engine for development due to its high propensity for productivity gains. Worryingly, recent evidence suggests that this has not been the case in Africa.
Africa has failed to industrialise. At the same time, millions of young people are seeking jobs. Put one-and-one together and the answer seems to be that if these labour market entrants become entrepreneurs in industry then they can in one stroke create jobs and help Africa industrialise. Yet, optimising the nexus between entrepreneurship and industrialisation requires overcoming some vexing policy biases. These can be categorised as biases of over-estimation and biases of under-estimation.
L’Afrique n’est pas différente des autres continents : le dynamisme économique africain repose comme ailleurs en très grande partie sur les PME. La nouvelle classe d’entrepreneurs africains ayant émergé depuis dix à vingt ans apporte avec audace et innovation des réponses durables aux besoins d’un continent dont les économies sont encore fragiles.
A universal definition of small – and medium-sized enterprises (SMEs) does not exist. What is generally undisputed, however, is the fact that the overwhelming majority of private-sector businesses in the world are SMEs and that SMEs account for a very large share of world economic activity in both developed and developing countries.
Next week, the