While energy access has increased in sub-Saharan Africa, with more people gaining access to electricity over the past 10 years; it has not kept pace with the rising population and other changes in the sector. Research shows that there are at least 600 million people in Africa who still do not have access to electricity, despite the continent’s endowment with all forms of fossils and renewable energy resources such as wind, solar, hydropower, geothermal, ocean and bioenergy. That represents a sizeable entrepreneurial opportunity.
In essence, Africa’s progress and economic growth continues to be hindered by the lack of power; hence the World Economic Forum warns that Africa risks missing out on the Fourth Industrial Revolution and its economic benefits. So, there is an urgent need to support African countries to strengthen their capacities not only in the energy production but also in the planning, transmission and distribution to be able to optimize investments in the energy sector. Poor...
While passion doesn’t necessarily guarantee business success, it is one of the key and essential ingredients in entrepreneurship. It is your passion that determines your level of commitment and enables investors to have confidence in your vision, it is your passion that attracts customers and motivates you and your team to keep going during tough times.
Essentially, when you have passion you breathe in positive energy, excitement, enthusiasm and fire up commitment to succeed regardless of any obstacle. However, the same passionate disposition that drives you as an entrepreneur toward success can sometimes consume you if not properly managed. According to Psychologists, business owners are vulnerable to the dark side of obsession.
Basically, given our passionate disposition and the business pressures we deal with, we are more likely to also experience the strong emotional states such as despair, hopelessness, worthlessness, loss of motivation and suicidal thoughts.
Imagine creating one African market; a single continental market for goods and services with free movement of businesses, trading partners and investments that enable us to trade with one another in the continent. Imagine prioritizing the production of value-added goods made in Africa, by Africans for Africans and the rest of the world.
44 African countries recently signed an agreement establishing the African Continental Free Trade Area (AfCFTA). The UN Economic Commission for Africa estimates that the AfCFTA has a potential to boost intra-African trade by 53.2 %. The goal is to create a trade policy that all African countries in the free trade area agree upon.
Essentially, the African countries that have signed the free trade agreement will develop rules of engagement pertaining to various factors such as customs procedures each country will follow, tariffs to invoke if any, trade dispute resolutions amongst the participating countries, how goods will be transported for trade including...