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Africa is fertile ground for a range of business opportunities. Its high growth economies are attracting billions of dollars in domestic and foreign direct investment, as global investors bet on everything from its oil wells and copper mines, to its rapidly developing consumer sector and agribusinesses.
But for strong economic growth to continue and for the continent to capitalise on its vast potential, Africa must focus on its human capital, nurturing highly skilled entrepreneurs and business leaders who can take African capitalism to the next level.
“There is social and economic impact to be derived from Africa’s growth, but we need a new vision for catalysing change and the business leaders to carry it out,” says Tony O. Elumelu, founder of The Tony Elumelu Foundation.
“For Africa’s economic transformation, the private sector needs to take the lead, invest long-term, and focus on making both economic and social gains. Entrepreneurs must be seen as the principal drivers of this transformation. I have learnt that business leaders can do well by doing good; they can reap rewards while touching lives and generating wealth among the communities they serve.”