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Latest News / Access to energy is main barrier to African entrepreneurship

 

A new Index, ranking the most entrepreneur-friendly countries in the world, has highlighted access to energy as one of the most significant barriers to entrepreneurship in Africa.

The ‘Ashish J Thakkar Global Entrepreneurship Index’, produced by the Mara Foundation, which scores countries on education, entrepreneurial environment, infrastructure, finance and policy to rank the extent to which regions support their population to achieve their entrepreneurial potential, used this year’s report to highlight the significant impact access to electricity has on the capacity for entrepreneurship in Africa.

The report noted in its conclusion that the main barrier to entrepreneurship within many African countries, which had an average score almost half that of European countries, came from a lack of infrastructure, and in particular the lack of access to electricity.

“There is simply not enough power for the needs of its population and its businesses”, the report states, continuing, “From factories that have to halt production, to small farmers or retailers who waste their goods because of a lack of refrigeration. Africa’s businesses, and especially entrepreneurs are limited in their capacity to succeed and grow.”

Also highlighted, was the important role they believe women will play in Africa reaching its entrepreneurial potential, commenting, “Encouraging women to explore their business potential and making sure opportunities are open to them, will help create a diverse and thriving culture of entrepreneurs and build the wider economies of each country.”

You can view the full report here.

 


 

Access to energy is main barrier to African entrepreneurship
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