The various challenges facing African countries are surmountable by Africans with the right knowledge that will accelerate the development and transformation of Africa by providing business solutions uniquely tailored for Africa.
Africa is largely dependent on natural resources to achieve growth and development. However, the realization of these goals may be hindered by the impact of climate change.
“There is a need for stronger private sector and also many states are in fragility on in conflict. Those are clear, focused goals for the Africa countries. poverty alleviation and shared prosperity. These goals are urgent that need a clear focus on achieving outcomes.
African countries have gained significant experience in the implementation of the sustainable development agenda albeit with mixed results towards achieving the sustainable development goals set.
Africa?s challenges include the adverse impact of climate change, increasing water scarcity, biodiversity and ecosystem loss, desertification, low resilience to natural disasters, potential non achievement of the Millennium Development Goals (MDGs), energy crisis, food crisis, limited benefits from globalization, health security, the global financial crisis, trafficking and piracy, low penetration of ICT services, urbanization, need to develop better disaster response mechanisms, genetically modified crops in relation to food security and technology transfer among others.
The challenges are many: there is poverty , there is the need for stronger growth, there is climate change, there is the role of women- full incorporation of woman into economies.
New entity should focused on implementing technology and business solutions designed inherently for Africa and specifically fit for purpose, while also curating business ventures to unlock new sources of growth across the continent
Despite the region reversing 25 years of economic stagnation to achieve a remarkable performance in the twenty-first century this has only been accompanied by a perceptible, modest but uneven decline in aggregate poverty.
However, the benefits of this growth have been disproportionately shared so that the gross inequalities many African countries inherited upon independence have been exacerbated. According to the UNDP, of the 19 most unequal countries in the world, ten are in Africa.
Firms in Africa should would be working with enterprises and governments to ignite opportunities, unleash their potential, pivot and turnaround their performance to create a better future across the continent.
Inequality matters. Evidence shows that, beyond a certain threshold, inequality harms growth and poverty reduction, the quality of relations in the public and political spheres and individuals’ sense of fulfilment and self-worth. This can have damaging impacts on overall society, notably in urban areas where marked differences in life opportunity can drive social problems, such as crime. Beyond income inequality, various forms of social inequalities, including gender inequality and a growing rural and urban divide are also undermining social cohesion
Professional services firms in Africa are currently at an inflexion point. Digital technologies, revolutionary ideas and new business models are creating disruptions and new factors such as agility, flexibility, risk tolerance, cost-leadership, value for money and entrepreneurship are key requirements for success.