The Covid-19 pandemic that affects the whole world must not curb the initiation of African economic structural reforms to support entrepreneurship. On the contrary, it is the perfect time to encourage healthy decision-making.
By Zakaria Fahim*
The Covid-19 pandemic is certainly still ongoing around the world, but Africa, with less than 3.5% of deaths (30,317) of the 867,600 in the world, shows a certain resilience. A final indicator that reinforces the Afro-optimists who defend that the continent is indeed the last frontier. We believe it, as the continent abounds in potentialities. Nevertheless, it is necessary to promote entrepreneurship or corporate culture, to fully engage in digital and make this quantum leap… Encouraging corporate culture goes through the simplification of procedures, of course, but also by an acceptance to contribute to the development effort.
“For guaranteed success, our continent would benefit from bringing itself up to standard”
This, therefore, presupposes simplified taxation, in this sense and only in this sense. Without a doubt, some attempts will be doomed to failure, but the loss ratio should be as low as possible and should not prevent further attempts. The stake is worth the candle, as the creation of these companies goes hand in hand with the increasing industrialization of the continent and new African patented products and services in all markets.
Development options may favor one or another sector, depending on the country’s strengths. Some opt first for the primary sector, with an emphasis on agriculture, fishing and animal husbandry, while others intend to industrialize and even increase their progress in the tertiary sector.
Whatever the strategic path, for guaranteed success, our continent would benefit from bringing itself up to standard. Establish local standards, which are strictly observed, but also encourage ISO 9001, 14001, 27001, HACCP …
* Zakaria Fahim is the president of Hub Africa, an annual event and platform that aims to develop a business network and promote African investment and entrepreneurship.