"Manifesto for the financing and support of entrepreneurship in Africa"Submitted by Admin on Thu, 10/27/2022 - 13:26
As I&P celebrates its 20th year of activity, the team is pleased to present its "Manifesto for the financing and support of entrepreneurship in Africa.
Based on 20 years of learning, entrepreneurial adventures, successes as well as failures and challenges, this manifesto aims to share with you the five best practices or core approaches that we believe are essential if we want to accomplish our mission to serve African entrepreneurs.
This document is part of a strategy to support the private sector and SMEs that the highest African and international authorities now consider a priority.
A shared conviction
Twenty years ago, investing in African entrepreneurs seemed like a bold gamble, to say the least. At a time when very few investors were interested in African entrepreneurship, we created I&P with a conviction: that Africa's rapid and inclusive development requires a solid fabric of profitable and formal small and medium-sized enterprises (SMEs) that provide sustainable solutions to the social challenges facing the continent.
In 20 years of upheaval in Africa, in a difficult security and political context, in a volatile and complex economic environment, our initial postulate has never lost its relevance. More than ever, African SMEs are vectors of social impact.
I&P cannot, on its own, achieve significant objectives on a macroeconomic scale. But we can help make a critical number of entrepreneurial projects possible and visible, and thus convince a growing number of entrepreneurs that it is possible to succeed in this path, and a growing number of public actors and financiers and supporters that it is worthwhile to mobilize on this cause.
Five core approaches identified
After extensive internal consultation, our team is convinced of the necessity of pushing forward in five areas.
These strategies are already well identified, but it must be said that they are being carried out too slowly to ensure the entrepreneurial emergence that the cause of employment, access to essential services, parity, macroeconomic stability, and resilience in the face of ever more pressing environmental challenges deserve:
Approach 1 - Recognize and promote tomorrow's champions, such as they are
Approach 2 - Strengthen the skills of entrepreneurs, their employees... and their strategic partners
Approach 3 - Boldly invest in good social and environmental practices
Approach 4 - Fuel talent by providing appropriate and relevant financing and support
Approach 5 - Transform public administration into allies of entrepreneurs
The manifesto addresses entrepreneurs, but also and above all an ecosystem that is vital to them : governments and public authorities, national and international investors, donors, large companies, local support structures, and banks...
We hope that many of you will read it, share it and make sure that initiatives in favor of the African entrepreneurial cause are encouraged, imitated and amplified in the next 20 years... and beyond!