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Moranga Innocent
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Asked: 2020-04-21T06:31:35+03:00

What are the top 3 problems that young founders are facing in Africa?

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What are the top 3 problems that young founders are facing in Africa?

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    5 Answers

    1. Listener

      There are many problems a young founder in Africa can face. Here I’ll just highlight my top 3 picks.
      1. Lack of financial access which is a major factor in entrepreneurship. Founders lack capital to fund their ideas and moves.
      2. Young founders lack access to professional networks which can boost and help them up.
      Also most of them lack leadership and management skills and end up going down eventually.
      3. Choosing the right business to venture into is also a challenge being faced by young founders. Most lack the real exposure about the business and end up choosing one without considering its nature and all.

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    2. Listener

      African countries have undergone two forms of governance liberation, yet remain stuck in the middle of a third one. First, it was the struggle for independence from the colonial rule then liberation from dictatorships that merged from independence. Now, many African countries are facing a struggle of getting proper democratic governance.

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    3. Enlightened Research assistant

      Lack of capital, high cost of starting a business

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    4. Participant Journalist

      1. Limited finances
      2. Stiff competition from well established entities.
      3. Lack of experience

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    5. Listener Manners makes a man

      The lack of knowledge
      The lack of money and the lack of time

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