Entrepreneurial revolution is a reality that cannot be denied, some call it economic revolution. Irrespective of what it is called; it is the solution to Africa’s underdevelopment.
The world is advancing in a fast pace, the height of scientific and technological advancements have been overwhelming, this pace has led to significant changes in and around humanity. Africa is my root and the only heritage I have, so I worry a lot about Africa and most especially Nigeria where I belong. All I crave for is to see commensurate development in Africa as equal with other parts of the world or even more.
I have written some articles on my blog stating clear and obvious facts that Nigeria cannot experience a political revolution – rather an entrepreneurial or economic revolution. Nigerians and Africa must learn to identify strengths and weaknesses peculiar to each country or people.
Rwanda whose capital city is Kigali is well known for nothing other than the genocide that began twenty two years ago that claimed over a million lives in 100 days has not just ended the status-quo but over-throwing it which is not just commendable to them but to Africa as a whole.
The World Bank released in February 2016 the ninth edition of the Rwanda Economic Update, the report clearly projects the country’s economic growth rate at 7.1% in 2015 and 6.8% in 2016. Rwanda against all odds has maintained growth and macroeconomic sustained stability in the last five years. Today that small East African country has progressed significantly from the history of corruption, ethnic division, genocide and underdevelopment.
Daniel J. Isenberg noted in his “How To Start an Entrepreneurial Revolution” June, 2010 in the Harvard Business Review that Rwanda made a spectacular leap from 143rd to 67th in the Ease of Doing Business ranking from the World Bank, he also noted that Rwanda rose out of the neighborhood of Haiti, Liberia, and West Bank and Gaza, and sailed past Italy, Czech Republic, Poland and Turkey. Rwanda ranked 11th worldwide in the ease of opening a new business, that is a great feat. This report I find very amazing and informative.
The Rwandan government has an initiative to expand technology with a singular aim of transforming the economy into a highly digitized, middle income by 2020. This vision is clear and known by all, it is working – and many inside and outside Rwanda are all amazed at how an economy known for subsistence farming is becoming a highly digitized economy. Rwanda is one of the 20 fastest-growing countries in the world.
If we put the fact that in less than 2 decades ago, Rwanda lost almost a million people and the country is currently stunning in global business circles, one will just have to wonder how this could have happened. Promoting entrepreneurial revolution has been a great tool of President Paul Kagame’s agenda for the nation. He developed a national promotion and sale of coffee, Kagame launched the Rwanda National Innovation and Competitiveness Initiative, among others.
What Rwanda was able to do is make Kigali – capital of Rwanda, one of the fastest growing cities in Africa. There is indeed nowhere else at the moment in Africa easier to do business than in Kigali. Kigali is just the economic miracle in Africa – there just seem to be several opportunities for investors to start and grow their businesses. This idea is a great innovation and highly holistic.
It is sad that Nigeria is called: “Giant of Africa” is experiencing a recession, the economic activities in Nigeria is going down, our income can no longer meet our expenditures, investors are leaving in their numbers on a daily basis. We need an entrepreneurial revolution – a paradigm shift, we need to boost the economy again. I wrote a 6 series article on; My Thoughts on the Economic Recession in Nigeria and how to live above it on my blog – you should take time out to read it. Nigeria just needs to learn from Rwanda, and some other countries in Africa who are trailing on global level. I will unveil so many others soonest.
All that Nigeria needs to do to start an entrepreneurial revolution is to make Nigeria a global business environment. Nigerians are highly industrious, economic activities must be highly encouraged; drivers that can sustain economic activities must be carefully put in place such as availability of electricity, petroleum, aid for small start-ups among others. The Nigerian government must develop a holistic approve to encouraging entrepreneurial activities at all levels.
It is time for all entrepreneurs in Nigeria to possess a nationalist mentality, business is a viable too to turn an economy around and not just a means to just make money, Corporate Social Responsibilities must be thrown around developing good business ideas, successful entrepreneurs in Diaspora should come back home to create a sound business environment in Nigeria. Every business success should be celebrated – that comes with a ripple effect.
Entrepreneurs are responsible to create the jobs we need, they are responsible for the entrepreneurial revolution we crave in Nigeria. Rwanda is doing this, Nigeria can do it better.
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