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Entrepreneurship key to Africa’s growth, says Ajumogobia

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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Posted By Bobricky On 10:58 Fri, 20 Nov 2015

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