Entrepreneurship key to Africa’s growth, says Ajumogobia

By 11:58 Fri, 20 Nov 2015 Comments

The former Minister of Foreign Affairs, Mr Odein

Ajumogobia, has urged African youths to initiate

measures that will rescue the continent from its

development challenges.

He said the government should create an enabling

environment for youth innovation, adding that

entrepreneurship was the solution to the poverty

ravaging Africa.

Ajumogobia spoke yesterday at an event organised

by The Africa Shapers Initiative to mark the 2015

Global Entrepreneurship Week.

Speaking on Africa -The Next Frontier: Fostering

Innovations for Growth and Development, the ex-

minister said only ideas could change the fortunes

of Africa.

While noting that Foreign Direct Investment (FDI) to

Africa increased in the last decades, Ajumogobia

regretted that Africa still conducted its trade same

way it did 50 years ago.

He observed that the net investment in Africa did

not increase with FDI, saying the continent still

largely depended on the foreign products and aid.

He said through entrepreneurship and innovation,

Africa could measure its growth.

Ajumogobia said: “Africa’s rising is a convenient

and dangerous one, because it is a challenge for

youths to tap into the emerging market for growth

and prosperity. Africa, one day, would become the

economic power of the world. But, we may not get

there with improper planning and bad trade

policies. Africa must create its market to sell

entrepreneurship ideas of its youths.”

Chief Executive Officer (CEO) of Marine Platform

Taofik Adegbite said emerging entrepreneurs in

Africa must build strong brands and not

personality. He said youths must be non-

conformist to successful entrepreneurs.

Founder of BEN TV in London Alistair Soyode said

the African youth must rise up to present

challenges to survive poverty.

Other speakers at the event included the Managing

Partner of Red Media Group, Chude Jideonwo and

Charles O’Tudor, a brand strategist.

The Director of Africa Shapers Initiative, Lekan

Fatodu, said the platform was to promote

development through youth innovation,

entrepreneurship and knowledge transfer.



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