Explores major socio-economic trends that will define sub-Saharan Africa in the next three decades, focusing on the urgent need to create jobs in response to unprecedented demographic growth, through a combination of economic analysis and easy-to-read personal investment stories
The near doubling of Africa's population by 2050 will lead to more than twenty million new job seekers entering the African labour market every year until then. Right now, Africa doesn't seem armed to offer jobs to this many people, resulting in possible unrest and intra-African or intercontinental migration flows, including to Europe. Climate change creates additional migratory pressure as it threatens the future of agriculture and livestock.
The author explores the opportunities for increased job creation in Africa. Work provides income, and decent and meaningful jobs contribute to prospects and social stability. The evolution of the labour market is essential for the continent's future. Fortunately, Africa has some major strengths. The continent has the youngest population in the world and represents a wealth of creativity and innovation. Moreover, Africans excel in 'market-creating innovation': the ability to see market opportunities and innovations that others do not. Africans create their own jobs through micro and small enterprises. A young well-trained middle class, familiar with digital technologies, is emerging. Africa's abundant natural resources also attract global regional powers aspiring to secure access to critical raw materials, something the continent can use to its own advantage.
Special attention goes to the European Union's Africa policy: the book takes a critical look at the European Union' intentions and approach and formulates recommendations to the European Commission. The author combines economic analysis with stories from twenty-five years of experience with impact investments in Africa. He challenges the typical pessimistic stereotypes about the continent and provides an optimistic vision of Africa's future.
Industry Reviews
This is an uplifting book. Africa urgently needs jobs for its youth. Lo¯c De Canni¨re shows how finance for small-scale enterprises can transform the opportunities for millions of young Africans. His examples of success are a model not only for other private investors keen to have socially purposive impact on young lives, but for refocusing the Africa policy of the European Commission. At a time of international stress and despair, this practical message of hopeful action will be widely welcomed. -Paul Collier, Professor of Economics and Public Policy, Oxford University
'Lo¯c De Canni¨re's book paints a varied and colourful picture of investing across Africa in growing enterprises (MSMEs). It is a timely call to action to local and international providers of finance to invest in better education, better infrastructure, the blue economy and the entrepreneurial success of Africa's youthful population.' - Dr Peter Hinton, Associate Fellow, Said Business School, University of Oxford, UK
The specific contribution of this book lies in its fact-based advocacy for increased funding of MSMEs (micro, small, and medium-sized enterprises), with a particular focus on supporting micro-enterprises to grow into small and medium-sized businesses. The author provides numerous examples of successful funding initiatives, showing that positive outcomes are achieved when certain key criteria are met. -Mesofinance Media
