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Obama’s promise for the continent of Africa

During the Global Entreneurship Summit the President of the United States of America made it loud and clear the American promise for African entrepreneurs but avoided to make a mention on the political challenges. It is true that African youth are very innovative. It is also true that human capital in Africa is immense. The President is aware taht entrepreneurship needs ownership. But he avoided to say something about multinationals or international corporation with big money. African starters cannot claim to have capital to compete with the world giants. Lets face facts. President Uhuru made it loud and clear that the governments have a role to play. The governments must facilitate infrastructures including some policies and legal frameworks. The main interest in the shared weblog is to open discussion on how Africa will benefit from the 1 billion US dollars promised by President Obama.
Entrepreneurship is all about private sector. It is not about the public sector. In Kenya there is Kenya Entrepreneurship Private Sector Alliance promoted by the government. How this alliance shall benefit private entrepreneurs is a big challenge. If USA shall direct such funds to governments then too little is expected to trickle down to private enterprises owned and initiated by Africans.
The competitiveness between the African companies and the heavily supported international private companies is a question one should not wish away. Never expect the story of David and Goliath in business. It is a real problem that requires a smart framework. The framework must develop strategies of supporting the weaker players other than making promises that would be ploughed back to developed stakeholders.
I personally expected the openning speech to address serious challenges such as corruption, domination, monopoly and imbalances in the business. There was no mention on AGOA and its plan for sub-Saharan Africa. The speech did not address insecurity that poses serious threat to the industry.
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About Peter Onyango

Dr. Peter Onyango O. is one of our main contributors. He is a senior law lecturer, a writer, a consultant, peace ambassador, and a researcher. He assists so many professionals, legal minds, and debaters with his skills and scholarly wealth! He supports children and village community as a way of giving back to community. He edits, proof reads, and publishes various articles for our page!

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