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‘Kinship tax’ puts the brakes on business – Kenyan study measures the impact of helping family

‘Kinship tax’ puts the brakes on business – Kenyan study measures the impact of helping family

IMAGINE working hard to build your business, only to find that your success brings about a wave of requests for help that you can’t turn down. This is a reality for many in African communities, where sharing income is a deeply rooted tradition. In fact, 93% of Kenyans I surveyed in a study of entrepreneurs believed that success in business led to financial demands from friends and family. Research has highlighted that resource sharing within African communities serves as a crucial social safety net. It helps in the pooling of risks for households and in providing partial insurance among members…
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Ivory Coast eyes startups growth with new legislation to support the sector

Ivory Coast eyes startups growth with new legislation to support the sector

BIRD STORY AGENCY IVORY Coast is positioning itself as a significant player in Africa's startup ecosystem with the introduction of a new legislative framework designed to support the country's entrepreneurs. The Ivorian Council of Ministers recently gave the nod to the Startup Act, a framework awaiting parliamentary approval. The proposed bill promises to revolutionise the digital startup landscape by providing crucial financing and support terms to bolster vulnerable enterprises' resilience. Other benefits the Act guarantees include a Startup Act award providing grants. Startups will also benefit from training, promotion, and access to public contracts and international markets. According to Florence…
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How Nigeria’s new competition law will benefit the economy – and what to watch for

How Nigeria’s new competition law will benefit the economy – and what to watch for

OLUCHUKWU PRECIOUS OBIOMA, PhD candidate, Department of Commercial and Corporate Law, Faculty of Law, University of Nigeria COMPETITION laws protect consumers and create confidence in an economy. It’s a signal to investors and entrepreneurs that a market is fair and open. And the reward for countries that regulate competition is that on average they produce more value per capita than others. In Nigeria the competition law regime has been inadequate compared with its economy’s size and complexity. It hasn’t had a comprehensive law addressing anti-competitive trade practices like monopoly, price regulation and abuse of dominance. The government previously had a…
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Nigerian billionaire Tony Elumelo honoured

Nigerian billionaire Tony Elumelo honoured

AFRICAN MIRROR REPORTER NIGERIAN billionaire Tony Elumelu has assisted thousands of entrepreneurs across Africa through his empowerment programme, has been honoured. The Belgium government has conferred on him the honorary distinction of the “Officer in the Order of Leopold’, which is the country’s oldest and most important national honour. “I am humbled by this recognition of the work @TonyElumeluFDN in catalysing entrepreneurs across Africa and will continue to drive the economic empowerment of our brilliant young #Africanentrepreneurs to propel development in Africa,” Elumelu said. Elumelu’s foundation - Heirs - said the conferment was in recognition of his commitment to poverty…
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The profile of South African entrepreneurs surviving against unbelievably heavy odds

The profile of South African entrepreneurs surviving against unbelievably heavy odds

SOUTH Africa is battling one of the highest unemployment rates worldwide. A concentrated number of unemployed people live in marginalised and under-resourced communities, where the estimated unemployment rate is 60%. MELINDA DU TOIT, Post-doctoral Research Fellow at the Centre for Social Development in Africa, University of Johannesburg Entrepreneurship is proposed by a number of socioeconomic researchers working in the field of unemployment as one possible, but not a simple, panacea for the employment crisis. To start a successful business, a person needs, among others, finances, business acumen, an interest in entrepreneurship, a marketing strategy, a space ideal for attracting customers,…
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Mentorship programmes in Kenya can make graduates more employable. Here’s how one works

Mentorship programmes in Kenya can make graduates more employable. Here’s how one works

SEVERAL studies have shown that besides technical education, “soft skills” are critical for graduates to succeed as innovators, entrepreneurs, and in the formal workplace. These include problem-solving, teamwork and communication. DR. CHAO MBOGHO, Educator, Researcher, Mentor, Kenya Methodist University Mentoring relationships – where an experienced person offers guidance and support to a mentee – are some of the most effective methods to nurture these employability skills. This can be seen in South Africa and in the Middle East and North Africa region. Other benefits that students receive through mentorship include raised learning outcomes and increased completion rates. However, there is…
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How to help entrepreneurs adopt cutting edge technologies to grow their businesses

How to help entrepreneurs adopt cutting edge technologies to grow their businesses

ENTREPRENEURS are known to drive innovation and progress in various fields. The Fourth Industrial Revolution has provided an unprecedented platform to do so. SEAN KRUGER, Coordinator Strategic Innovation, University of Pretoria ADRIANA ALETTA STEYN, Senior Lecturer in Informatics, University of Pretoria This global concept was coined in 2016 by Professor Klaus Schwab. He said that this revolution entails “nothing less than the transformation of humankind” because it is the integration of technologies across the digital, physical and biological spheres. Moreover, the speed at which this is happening is influencing work, services, educational needs and people’s everyday activities. Entrepreneurs have the…
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