Entrepreneurship in Africa is flourishing because of several factors. Galway Academy could establish that Africa is about to become the next serious player in entrepreneurship due to its young demographic driving innovation, increased access to technology and the ever-conscious effort to change the status quo.
The African entrepreneurship landscape has many opportunities for astute entrepreneurs determined to leave their mark on the business ecosystem. An expert from Galway Academy opines that African youth are on their way to reshaping the continent’s business landscape, catalyzing economic growth, and stimulating lasting social impact.
3 Essential Sectors where African Entrepreneurs are reshaping
- Financial technology (Fintech)
In recent years, the Fintech sector in Africa has been a hotbed of innovation reshaping the banking landscape. The sector has thrived against all odds even though approximately 66% of Sub-Saharan Africa’s adult population remains unbanked.
The industry players in this sector are leveraging cutting-edge technology to bridge this financial gap in the continent.
- Agribusiness
Agribusiness remains the cornerstone of Africa’s economic prosperity. Galway Academy emphasizes that the sector holds vast potential and remains significantly untapped. Some of the challenges being tackled in the African agribusiness sector include supply chain management and effective market access.
This sector alone offers many opportunities for creating sustainable solutions addressing food security in Africa.
- E-commerce
The digital buying and selling world has brought Africa into growth and opportunity. African countries have experienced market dynamics in how they buy and sell due to the rapid expansion of internet usage, smartphone prevalence and e-commerce adoption in African cities and towns.
