By Benjamin Wickham
ACCRA, December 4 — Ms. Emma M. Theofulus, Namibia’s Deputy Minister of Information and Communication Technology (ICT) underscored the pivotal role of young entrepreneurs and politicians in driving Africa’s progress. Speaking at the 2nd Volta Young Entrepreneurs Summit in Ho, Ghana, she emphasized the interconnectedness of politics and entrepreneurship, asserting that thriving entrepreneurship depends on conducive environments free from restrictive systems.
Identifying rigid policies and ageism as significant obstacles to entrepreneurial growth, Ms. Theofulus urged young entrepreneurs to cultivate resilience in navigating these challenges. She attributed difficulties faced by African entrepreneurs in expanding their businesses to their countries, neighbouring nations, or beyond, to the complex legal and policy frameworks.
The Deputy Minister stressed the importance of politicians understanding how to dismantle these barriers and create an environment conducive to entrepreneurial success. She encouraged entrepreneurs to harness the potential of digital trade, positioning Africa for a leap into the digital era. Ms. Theofulus advised thorough research on local economic landscapes to gain a competitive edge.
Networking and collaboration emerged as key strategies in Ms. Theofulus’s address. She urged young entrepreneurs to form conglomerates, facilitating transitions between different product lines or stages of development. Her call emphasized building businesses that leave legacies and contribute to Africa’s economic emancipation.
The summit, integrated into the Sixth Volta Trade and Investment Fair, centred around the theme “Bridging Borders: Amplifying Youth Entrepreneurship in an AfCFTA era.”
Okpekpewuokpe Akpinifia Dagadu IX, the Paramount Chief of Kpando Traditional Area, acknowledged regional business challenges, including financial accessibility, high interest rates, and insufficient technical support. Criticizing perceived inactivity by Corporate Volta, he highlighted infrastructure and security barriers affecting business operations. He urged increased government investment in the Volta region and encouraged local businesses to position themselves for potential interventions.
Dispelling wealth-related superstitions, Okpekpewuokpe Akpinifia Dagadu encouraged youth wealth creation, while Mama Bobi III, the Queen of Ho-Bake, echoed the call for resilient business development. She emphasized preparing for AfCFTA opportunities, urging young entrepreneurs to invest time in becoming borderless entrepreneurs with strategic approaches.
