Global entrepreneurship summit: An engine for change?
Investments and harnessing talents are key opportunities that the global entrepreneurship summit can offer for both emerging talents and global investors.
Kenya has taken a center stage in the Global Entrepreneurship Summit (GES), with so much promise and anticipation for entrepreneurship development in Africa. In the past, countries like Turkey, the United Arab Emirates, Malaysia and Morocco have had their turns in hosting the Global Entrepreneurship Summit. The United States first hosted the Global Entrepreneurship Summit in 2010. The vision is to expand entrepreneurship engagement throughout the world.
Is black Africa forgotten?
This is a loadable idea if one has to think about the world in terms of a global village. Indeed, the global entrepreneurship summit, by its creed, recognizes the world has become a global village. A village that needs each member of the union to optimize its gifts and abilities in order to achieve a common purpose and success in business and entrepreneurship.
Daymond John, CEO, FUBU attends GES. He is a Shark Tank investor (a CNBC TV investment program) helping startup funding.
Whilst we all admire entrepreneurship growth in other parts of the world, sometimes we forget that the engine and growth of an economy depend very much on entrepreneurship. It is also important to recognise the abilities of these entrepreneurs and what they offer to the world.
Entrepreneurship and innovation have always been keys and pivotal points in global change and success. But how can we harness the African talent to create innovation and successful entrepreneurship? Will the yearly staging of the global entrepreneurship summit ensure a translation of good intentions into developing great and willing talents?
For too long, Africa seems to have been a forgotten continent. But the same has the potential to be self sufficient and also help other parts of the global village with its unique skills, products and services.
The state of the union has not been always fair to the African continent. But to be fair, governments, entrepreneurs and all well-meaning people in Africa must strive to create a continual safe and sound environment that enables global investments without fear of investment failures.
Investments and harnessing talents are key opportunities that the global entrepreneurship summit can offer for both emerging talents and global investors. To buttress this point, both pilot and matured projects by some investment groups so far have shown significant success.
Success of the global entrepreneurship summit
The fact is that the President of the United States, Barack Obama, has shown genuine concern and is on the move to bridge the global investments gab with the global entrepreneurship summit. He has called upon the private sector investors to support, train, partner and mentor entrepreneurs around the world with capital investments.
The Overseas Private Investment Corporation (OPIC) has pledged up to $200 million. This will help equity bank group lending of $450 million in foreign currency to help target small and medium scale businesses, including women and youth development over the next five years.
The USAID, Coca Cola, Microsoft are among the many entities which have pledged for this investment's rescue mission. They will support the program with lots of cash and expertise.
Obama’s commitment to influencing significant resources to advance sub-Saharan Africa investment and other areas is credible. However, good management and sustained accountability will go a long way to make this effort permanent.
Enoch Antwi is the managing editor at The Business Frontal. He worked as a business and an environmental journalist in the late 1990s with the Business and Financial Times. His passion is to provide on-demand valuable information and insights on business, entrepreneurship, leadership, innovative technologies, and principles for corporate success in today's business world.