Building a Resilient Innovative Africa in a COVID-19 world

Of the 26% of entrepreneurs and start-ups not currently exploring scaling across borders, the majority (44%) say funding challenges as the key reason, while a significant number say they are focusing on good opportunities in their home markets instead of looking abroad. A small percentage say they feel they are held back by a lack of management experience.

Good opportunities to explore in my home country


Not enough current management bandwidth / experience

Funding challenges


My innovation / business is specific to my home country market dynamics


Fig. Reasonswhy some entrepreneurs are not seeking cross border expansion


TheCOVID-19effect onattitudes towards scalability Across the continent, the pandemic has given rise to an explosion of new innovations with young start-ups and SMEs eager to support their countrywith solutions ranging fromagritech to e-health, e-commerce, fintech and more. Most of the start-ups and entrepreneurs surveyed say they are likely to need or be able to scale their business in the wake of COVID-19.

No (10%)

Fig. Number of innovators likely to need to scale their businesses in thewake of COVID-19

Yes (90%)

Across the world, government support in the wake of COVID-19 has been fundamental to the survival of millions of businesses. In Africa, policymakers and governments have stepped up to varying degreeswith a range of emergencymeasures and solutions, from soft loans to the lowering of interest rates, and furlough schemes. However, sentiments from our study as indicated below suggest that thesemeasuresmaynot be effectively reaching ormeeting the needs of youngAfrican entrepreneurs in these challenging times.


Made with FlippingBook Ebook Creator