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Entrepreneurs and small businesses have long been regarded as the engines that power the global economy, but the thing that sets a local corner store apart from a startup built in the cloud is the rate at which they can scale.

That is according to Sarah Heck, an advisor on international entrepreneurship and youth programs to the Obama Foundation and head of entrepreneurship at Stripe, who told Disrupt Africa offline businesses are bound by the physical limitations of a brick-and-mortar market.

“Tech-enabled startups, on the other hand, can operate on internet scale from day one; propelled by software that makes the fundamental aspects of reaching a broad user-base and going global a lot easier,” she said.

“As a result, it’s entirely plausible for a high growth startup to scale from zero to hundreds of employees within as little as two years. The Kauffman Foundation actually looked into the impact of these kinds of businesses on job creation back in 2011, and found that startups not only created the most net new jobs in the US economy but, unlike existing small or large firms, continued to steadily create new jobs throughout the global recession.”READ MORE

 

Calling all Kenyan Social enterprises and non-profits. Action Aid Kenya is looking for bold solutions to gender equality challenges and youth employment in Kenya i.e young social entrepreneurs who create decent jobs for young people and empower women living in poverty and exclusion in Kenya.

Apply now for Kshs. 500,000 in grant and Kshs. 350,000 in mentorship

Africa is a global leader in mobile money, with telecom operators embracing innovative practices that allow customers to not only pay bills but also access services including loans, insurance, and savings.

Yet increasingly, fintech startups with access to greater funding and banks are trying to permeate the mobile financial services (MFS) sector and pull some of these customers their way. This strategy is dependent on the recognition that the future is digital, and that mobile money presents a lucrative opportunity to grow revenue and deposits. Read more...https://qz.com/1243637/mobile-money-is-key-to-growing-banks-in-africa/

Foreign Affairs and International Trade Cabinet Secretary Ambassador Monica Juma says the Continental Free Trade Area (CFTA) will allow SMEs to expand beyond the country boundaries.

Ambassador Juma says that when the CFTA is ratified in September, SMEs and the informal sector will be allowed to move their goods and services across the continent.

“Across the continent, the informal sector is estimated to bring about an income of between 40 to 60 billion dollars a year… so the idea is to create a value chain that starts at the lowest level that creates that prosperity for Kenyans and any other African that is producing,” said Juma in a Capital in The Morning interview.

The CS is banking on Kenyan SMEs innovativeness and level of entrepreneurship to compete favorably at the continental stage when the trade barriers come down. Read more...

The availability of affordable resources is essential to the productivity and running of a country. All sectors of a country, whether state, business or other, depend heavily on reliable resources and the services they facilitate.

Whether using water, energy, food, transport or waste, doing more with less translates into increased capacity for production and consumption and enhances long-term sustainability.

By using and reusing resources efficiently and intelligently, resources are freed up for other uses. Read more

Despite the rapid growth in the services sector, agriculture still accounts for more than a third of its GDP. Africa is urbanising rapidly, but agriculture still employs two-thirds of the workforce. Evidence has shown that growth in agriculture is up to 11 times more effective in reducing poverty than growth in any other sector. If we want to end poverty and hunger in Africa by 2030, agriculture needs to be right at the heart of the strategy.

Read more...

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