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The “Accelerating Entrepreneurship in Africa” study
conducted by Monitor Group in partnership with Omidyar Network has revealed
that despite significant challenges, entrepreneurship is gaining credibility as
a vocation in Africa because individuals no longer see being an entrepreneur as
a decision of necessity but one of aspiration.
The survey, which was carried out on entrepreneurs in
Ethiopia, Ghana, Kenya, Nigeria, South Africa and Tanzania, shows that more
than half of the respondents (57 percent) consider entrepreneurship a desirable
career choice.

However, the study identified that entrepreneurship in
Africa still face many challenges including unavailability of
capital, inadequate infrastructure, insufficient skills training, limited
affordable and inadequate business support services as well as burdensome
administrative policies like taxes, obtaining licenses and hiring employees
informally.
According to the managing partner of the Monitor Group
Johannesburg, Tebogo Skwambane, while presenting the results at Omidyar
Network’s Entrepreneurship in Africa Summit in Accra, Ghana, last week, African
entrepreneurs are resilient and optimistic despite significant challenges and
obstacles.
However, he explained that “To maximise the contribution
that entrepreneurs can make to the continent, it is critical that policymakers
craft policies that are suitable for their national or regional context. This
requires not only better understanding the strengths and weaknesses of the
entrepreneurial environment, which our survey set out to do, but also requires
more focused, tailored and locally meaningful strategy formulation by
policymakers.”
Meanwhile, Omidyar Network’s Managing Director for Africa,
Malik Fal, said subsequent phases of the research will lead to the formulation
of recommendations on the critical policies required for entrepreneurship to
thrive in the six countries.
Fal said that the survey will be available on the Monitor
Group and Omidyar Network websites in the near future. A whitepaper detailing
the discussions and recommendations of the Entrepreneurship in Africa 
Summit
will also be published next March.
According to him, the multi-phase research project will
gather insights into the health of entrepreneurial ecosystems in Africa, the
challenges facing African entrepreneurs and the barriers to creating
environments supportive of entrepreneurship

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