The Africa story just keeps getting bigger and better
There are some very interesting numbers that are emerging from Africa. Some of them are here for you to read. For instance:
- Eleven million youth are expected to enter the labour market in Africa every year for the next ten years.
- That’s one. Another, Africa has the fastest-growing middle class in the world. In 2015, consumer spending was around $1.4 trillion. By 2025, discretionary spending is likely to define at least 65 percent of African households (That is a great shift – simply put, Africans are going to spend more on discretionary products and services rather than basic necessities).
- And here’s the cherry-on-top-statistic: An African country – Uganda – has the highest percentage of women business owners in the world. In fact, across the whole of sub-Saharan Africa, close to 25% of the female adult population is engaged in early-stage entrepreneurial activity.
The third statistic pertaining to the African economic landscape is hardly a surprise. To ensure the fulfillment of the need that the first statistic is creating – entrepreneurship is a definite solution. That is why 22 percent of Africa’s working-age population is venturing on new businesses and that is the highest rate from any region on the global map. The fast-growing middle-class population, which the second statistic highlights, is a beacon which can be managed only by entrepreneurship tool. For no apparent reason except that to excel in an economy one should also have a proper understanding of its local market and conditions. So the shift from consumer spending on basic necessities to discretionary products is something cannot be missed by African entrepreneurs who need to identify the opportunities better and create their game plan for success in there.
So how do you latch on to this entrepreneurship fairytale? Among many other factors, one important aspect is that you are fully aware of how to go about your business. How do you lead an organization into innovation and change? How do you create an enterprise that delivers not only profit but also social impact? How do you create an ecosystem of business linkages between the various stakeholders? Eaton Business School offers a range of business management courses that will help you to develop your understanding on how these and other aspects of entrepreneurship work. Within the comfort of your home and the flexibility of time, check it out with our counselors about the European Accredited Executive MBA Courses Online in Africa that we provide. To build a profitable business, it is not enough that you have just a risk-accepting spirit and a good idea; a clear knowledge on the nuances of how finance, marketing, people and technology can be put in the right order is also important. And Eaton Business School will help you do just that with courses and specializations.