New African Development Bank white paper ties entrepreneurship to socioeconomic resilience.

ENPNewswire-September 27, 2021--New African Development Bank white paper ties entrepreneurship to socioeconomic resilience

(C)2021 ENPublishing -

Release date- 24092021 - The African Development Bank has published a white paper on Entrepreneurship and Free Trade that makes a case for entrepreneurs and innovation as vital drivers of resilience and emergency preparedness across Africa.

The white paper, titled Towards a New Narrative of Building Resilience and released in September 2021, places the private sector-particularly technology and knowledge-based entrepreneurs-at the heart of the continent's security, sustainable development and future growth. It is a follow-up to an earlier volume, Africa's Catalysts for a New Era of Economic Prosperity, released in June 2021.

The launch of the white paper coincides with the Bank's Africa Resilience Forum scheduled for 28-30 September 2021. The paper's findings provide relevant context for Day 3 of the Forum when leading venture capitalists, policy makers, researchers and international development organizations will discuss how to unleash the potential of entrepreneurship and the AfCFTA to build a resilient and prosperous continent.

Dr. Khaled Sherif, the Bank's Vice President for Regional Development, Integration and Business Delivery said, 'entrepreneurs are instrumental to addressing the continent's economic, social and environmental concerns. We must provide them with the necessary encouragement and support-the future depends on it.'

The white paper notes that African entrepreneurs have driven numerous advancements already, including widening access to information and services, bridging rural-urban divides, and expanding mobile phone-based payment and remittance systems that enable more inclusive finance.

The paper advocates the set-up of a comprehensive ecosystem offering Africa's entrepreneurs technical, financial and networking support. Specific recommendations include boosting available venture capital, creating more accelerator hubs, promoting greater R&D through data-sharing platforms, and supporting broad-based education and skills development for the digital...

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