An estimated 20 million Africans are in danger of losing jobs due to economic shutdowns and slowdowns linked to Coronavirus, according to an African Union study.
Post Coronavirus, both formal and informal sector businesses will be forced to lay off their employees. This prospect has been put in motion, with many facing an uncertain future. The situation where many are expected to spend weeks and months out of employment will pose unprecedented challenges to economic development across the continent.
If the spread of the disease is eventually stopped, which is likely due to the vaccines being reported around the world, it will still take many years for economies to return to their pre-Coronavirus performances.
It’s said that wherever a company or business initiated by an entrepreneur is, it usually requires human capital, an element that in itself offers meaningful employment for others.
Josh Adler, executive director of The Anzisha Prize wrote recently in Ventureburn: “Entrepreneurial activities by young people in Africa not only ensure that the individuals themselves are no longer a part of joblessness statistics and are instead actively contributing to their economies, but many are also having even more positive impact”.
“Aspiring young business-starters are not only improving their communities through innovation and providing valuable (sometimes essential) services, they are also creating employment by hiring members from their immediate communities.
“What is even more impressive is that trends show that young people are hiring other young people – exponentially reducing youth unemployment in their communities, countries and the continent.”
Across Africa, entrepreneurs have for a long time been encouraged as a way to reduce unemployment. This points to entrepreneurs this time around having the potential to play a huge role post Coronavirus period.
While anyone can be an entrepreneur any time in Africa, perhaps the continent’s biggest challenge is to have educated entrepreneurs; who are not only able to navigate the inevitably technologically advancing business environment but are conversant with the modern ways of executing business plans as well as being eloquent in their pursuit of business excellence.
African entrepreneurs cannot technologically and everything, remain in the past compared to their western counterparts. They must be able to show the international world that, though small in size, they are equally capable of competing with well-informed management of large corporates.
The Blended and Distance Learning Programme is ideal for those seeking to become successful entrepreneurs in Africa. Equipped with an accredited qualification from Botho University’s online programme, it’s easy to be an entrepreneur and be on the way to helping Africa slow down the unemployment burden.
For some time entrepreneurs in Africa have been encouraged for the potential to uplift the continent through massive job creation. Most entrepreneurs start from home or very small (informally), and build their operation gradually into a formalized and fairly large businesses.
So as Africa grapples with job losses as a result of Coronavirus, the future may be in having an educated youth who will become the future entrepreneurs. These youths who have the financial means have to consider enrolling now with the Blended and Distance Learning Programme in preparation to graduate in the next few years and start their businesses.
Study for an accredited qualification with Blended and Distance Learning Programme and be prepared to contribute to Africa’s growing pool of entrepreneurs post Coronavirus.