By Cathy Smith, Managing Director at SAP Africa LAGOS, Nigeria, 12 November, 2021 -/African Media Agency/- As we continue rebuilding following the economic and social damage caused by the pandemic, there is ample opportunity for optimism. I am encouraged by the continent’s rich history of innovation and ingenuity.
A shining example of the continent’s willingness to meet our shared challenges, which include greater employment opportunities, economic growth, education, and mitigating the impact of climate change, is Africa’s vibrant ecosystem of social enterprises that put people before profit and strive to solve the issues we collectively face.
In Ethiopia alone, data suggests that half of the country’s estimated 55 000 social enterprises are led by people under the age of 35, and more than a quarter are women-led. Considering the country’s urgent need for youth employment opportunities – the latest official data suggest Social enterprises inspire hope
Vitally, Siyafunda enjoys the benefits of a robust ecosystem of partners, including local, provincial and national government, schools, universities, and private and social organisations. , improving support for social enterprises could have far-reaching positive consequences for youth employment and skills development across the continent.As with any emerging small business or start-up, social enterprises face the daunting task of survivability, especially during the early stages of its growth.