VC4Africa.com believes that entrepreneurship should be the main driver in Africa’s economic growth, in particular the small and medium sized enterprises (SMEs) that provide much of Africa’s employment, income and hope for a better future. SMEs contribute around two thirds of national income and provide the foundation for a stable middle class in many African countries. They help form strong communities and are a powerful force for poverty reduction. SMEs play a significant role in building economic stability and sustainability for the future. As Africa enters the new millennium it faces a challenge to provide better economic opportunities for citizens through sustained growth and alleviating the poverty that has long plagued the continent. The NEPAD (New Economic Platform for African Development) and the United Nations Millennium Goals for 2015, to which the EU-countries have all subscribed, have set out ambitious aims in this respect. The World Economic Forum in Davos and the G8 have also made the commitment to stimulate private and public investments in Africa. However, it’s our belief that the most meaningful impact will still come from grassroots entrepreneurship and local efforts. It is important to support this bottom-up approach of citizens working to tackle local challenges and build on the idea that any person anywhere in the world might have the skills, knowledge and resources needed to make a difference.
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VC4Africa
By Wayan Vota on March 25, 2011
Filed Under: Economic Development
More About: Africa, Community, Entrepreneurship, Funding, hubs, incubators, Meetups, Networking, private equity, Seed Funding, social, Startups, tech, Technology, VC4Africa
Written by Wayan Vota
Wayan Vota co-founded ICTworks. He also co-founded Technology Salon, MERL Tech, ICTforAg, ICT4Djobs, ICT4Drinks, JadedAid, Kurante, OLPC News and a few other things. Opinions expressed here are his own and do not reflect the position of his employer, any of its entities, or any ICTWorks sponsor.
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