Globalization as a threat to Africa’s prosperity creation

Globalization presents several opportunities. Some of these which are on the economic side, include the facilitation of international trade, offshoring and internationalization of production. Others have the opening up of the interconnectedness in social and economic relations among countries, the opportunity of leapfrogging into the information age and improved access to international finance and technology. […]

Entrepreneurial individualism and Africa’s prosperity

Entrepreneurial successes of different individuals acting in ways beneficial to them, which also positively affects others drive societies prosperity. Outstanding examples relevant for the prosperity creation of the African continent are the various enterprise clusters that spontaneously emerged and which provide hundreds of millions of employment opportunities with no discernible role by the state. Governments […]

Prospering without government: Tales of Nigerian enterprise clusters

Enterprise clustering is gaining increasing attention in Nigeria because of the apparent benefits associated with it. Albeit the government hostilities and outright resistance that many of these clustering entrepreneurs face, enterprise hubs like the Aba footwear and garment industries, the Otigba computer village, Nigeria’s Nollywood, the Kano leather tanneries, the Nnewi motor spare parts village […]

Africa’s misleading development and prosperity models

Colonialism cost Africa a great deal. Unfortunately, Africa is yet to remove that garb. From shifts in consumer preferences to mind shifts at the roots of its underdevelopment, Africa needs to reject several misleading notions that continue to derail its destiny. It is in the interest of the colonialists to mind-manipulate the conquered colonial states […]

A firm-level path to Africa’s prosperity

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 […]

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 […]

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 […]

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 […]

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 […]

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. […]