By: Evelyn Iyose Umemezia and Henry Sonna Ojukwu
4 Journal of Entrepreneurial Innovations Vol. 4 (1)
INTRODUCTION
Sall (2022) refers to entrepreneurship as a key contributor to economic growth, development, and poverty reduction in Africa. Nevertheless, 34% of the continent’s population lives below the poverty line (Randy, 2022). Vermeire and Bruton (2016) assert that global poverty has been reduced in regions, such as Southeast Asia and South America, but not in Africa. Organisation for Economic Cooperation and Development (2022) reports that the poorest countries with high poverty levels in Africa include South Sudan at the top with a poverty rate of 82.30%, followed by Equatorial Guinea with a poverty rate of 76.80% and then Madagascar with a poverty rate of 70.70%.
Other countries, Guinea Bissau, Eritrea, and Sao Tome and Principe recorded poverty rates of 69.30%, 69.00%, and 66.70% respectively. By observing the outcomes of this incident, researchers observed that poverty has deprived Africans of the basic needs of man, which are: stable income, a minimal level of food, affordable health services, shelter, clothing, and access to formal education, all of which are crucial for a good quality of life (Sall, 2022).
Entrepreneurship, which is indeed contributing robustly to the growth of Western economies, is yet to replicate the same level of success on the African continent given the current level of poverty in Africa which translates into high unemployment, particularly among the youths. Growing youth unemployment has continued to pressurise the government into making social services available, thus exerting more pressure on the economy and national
resources (Iwu, 2022). This indicates that entrepreneurship, which spurs industrialisation and generates employment opportunities in other continents, is not operating at full capacity on the African continent.
Africa’s level of poverty and unemployment enhances the cruciality of entrepreneurship education in the continent. Entrepreneurship education as a process would equip students with the understanding of rigorous economic tools and human relations skills in handling difficult challenges (Fejes, Nylund & Wallin, 2019). In Africa, entrepreneurship education comes with a lot of expectations, one of which is to uproot individuals and even communities from the stronghold of poverty and unemployment to a more sustainable living.
A dig into the success of entrepreneurship development reveals that individuals’ educational background and entrepreneurial skills are core to the effectiveness of the entrepreneurial process (Diandra & Azmy, 2020). Despite these positive expectations, Iwu (2022) reveals that there are pitfalls associated with the achievement of these public expectations; these are insufficient curriculum (Ahmad, Abu-Bakar & Ahmad, 2018) and level of lecturer competency (Iwu, Opute, Nchu, Eresia-Eke, Tengeh, Jaiyeoba & Aliyu, 2021).
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Entrepreneurship, which is indeed contributing robustly to the growth of Western economies, is yet to replicate the same level of success on the African continent given the current level of poverty in Africa which translates into high unemployment, particularly among the youths. Growing youth unemployment has continued to pressurise the government into making social services available, thus exerting more pressure on the economy and national resources (Iwu, 2022). This indicates that entrepreneurship, which spurs industrialisation and generates employment opportunities in other continents, is not operating at full capacity on the African continent.
6 Journal of Entrepreneurial Innovations Vol. 4 (1)