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Home/Questions/Q 16296
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Moranga Innocent
Moranga Innocent

Moranga Innocent

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Moranga InnocentAdvanced
Asked: April 21, 20202020-04-21T19:14:58+03:00 2020-04-21T19:14:58+03:00In: Business and Investments

What are the top 3 problems that young founders are facing in Africa

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What are the top 3 problems that young founders are facing in Africa

africabusiness
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7 Answers

  1. Ian Lai

    Ian Lai

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    Ian Lai Legend
    2020-11-20T12:36:30+03:00Added an answer on November 20, 2020 at 12:36 pm

    taxes, funding and access to market

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  2. Komlan Abrema

    Komlan Abrema

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    Komlan Abrema Advanced
    2020-04-26T15:27:01+03:00Added an answer on April 26, 2020 at 3:27 pm

    1. Money
    2. Money
    3. Money

    We can get access to all the resources you have mentioned above if we have all the money. Youth are smart and hardworking and have already moved around all these obstacles. Money is the greatest barrier.

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  3. Moranga Innocent

    Moranga Innocent

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    Moranga Innocent Advanced
    2020-04-24T02:28:27+03:00Added an answer on April 24, 2020 at 2:28 am

    Thank you Phanice and I am glad that your perspective covers three different dimensions that are very important if we are to scale and accelerate enterprise development among young founders.

    What can be done to solve these challenges?

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  4. Daisy Mwikali

    Daisy Mwikali

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    Daisy Mwikali Master
    2020-04-23T12:07:26+03:00Added an answer on April 23, 2020 at 12:07 pm

    It is sad that this is a reality we are still facing in 2020, but here is my list of problems facing young founders an entrepreneurs in Africa:

    1. Lack of government support for entrepreneurship
    2. Unfair or excessive regulations for sme’s and start up businesses
    3. Inherited poverty that you have to get out of before starting any business
    4. Too much interdependence from family and friends and expectation of support
    5. Lack of support from banks and loaning agencies
    6. Unfair competition from big companies that kills upcoming businesses
    7. Too much startup capital: Registration, permits etc
    8. Lack of personal experience and little support by friends and family
    9. Less appreciation of locally made products due to cheap and low standard imports
    10. Expensive raw materials

    My top 3 will definitely be:
    1. Too much government regulation and taxation of small businesses
    2. Less appreciation of locally made products due to cheap and low standard imports
    3. Lack of personal experience and little support by friends and family

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    • Moranga Innocent

      Moranga Innocent

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      Moranga Innocent Advanced
      2020-04-24T02:25:39+03:00Replied to answer on April 24, 2020 at 2:25 am

      This is extremely eye-opening Daisy and indeed many young founders are facing these challenges across Africa.

      What could be you take on how we can solve them? The majority of your perspective is on legislation, you may say it’s not within individual control.

      How do we make it better?

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  5. Phanice Wamukota

    Phanice Wamukota

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    Phanice Wamukota Expert
    2020-04-23T10:13:30+03:00Added an answer on April 23, 2020 at 10:13 am

    Lack of enough experience
    Limited Capital
    Limited connections

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  6. Anonymous Anonymous

    Anonymous Anonymous

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    Anonymous Anonymous Newbie
    2020-04-22T13:02:03+03:00Added an answer on April 22, 2020 at 1:02 pm
    This answer was edited.
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