By Deborah Asantewaah SARFO
The Director of Innovations at the National Entrepreneurship and Innovation Programme (NEIP) David Antwi Ofori has ascribed the absence of giant indigenous businesses to the culture of individualism over partnerships among entrepreneurs.
He explained that the country is doing well in the area of entrepreneurship but cannot boast of giant companies as 90 percent of its start-ups are one or two-man owned, resulting in businesses lacking the strength to “transcend beyond the generation of the business founder”.
“Per a research study conducted by the Leeds University, on the continent of Africa, we are number two when it comes to entrepreneurship. About 90 percent of our entrepreneurs are one-man, two-man businesses. So, when the founder is unwell and unable to go to work, there is no company”.
“We do well with the entrepreneurship, but it seems we are keeping busy and going nowhere,” he indicated.
Mr. Antwi Ofori said this during the opening ceremony of the Studentprenuer Africa Festival, organised by the Institute of Applied Science and Technology (IAST) of the University of Ghana in partnership with the Springfield Events and UG’s Computing Systems.
He, however, blame the situation on the absence of trust among individuals, saying it has culminated in the presence of small businesses in the county: “if you look at the way we live, everybody wants to have their own self compound. People don’t like to live in apartments and we take the same mind-set to business”.
Touching on the power of partnerships, he outlined risk sharing and the strength to grow exponentially.
At the event, some key stakeholders from academia, industry and public service also charged students to develop the mind-set of creating solutions to solve the worlds’ problems. They advised students to leverage technology to address problems, for instance, in the field of climate change, heath care, agriculture and education among others.
The Studentprenuer Africa Festival was held under the theme “boundless prospects for Africa’s future frontrunners: technology, sustainability and innovation.”
“From artificial intelligence to block chain, technology offers boundless opportunities,” ProVost of the College of Basic and Applied Sciences of the University, Professor Onwona Agyeman, said, adding that “this festival is expected to empower our students who will leverage on the methods to create value for their future.”
Studentpreneur Africa Festival, an inaugural student-based Pan-African conference, aims to connect student entrepreneurs, local start-ups, and angel investors in the quest to find viable solutions to the current economic challenges.
The event was opened to students or young graduates from higher education institutions, partners of the Studentprenuer Network and their member higher education institutions in Africa.
Also speaking at the event, the Director of IAST, Prof. David Dodoo-Arhin, challenged youth to harness the power of technology, embrace sustainability and foster innovation to solve the pressing challenges facing the country, Africa and the globe.
“Sustainability is not a choice. It is our moral imperative. As future leaders, you must champion eco-friendly models. Let sustainability be your compass guiding your entrepreneurial endeavours. As student entrepreneurs, dare to dream beyond the ordinary,” he noted.
The two-day programme is expected to host leading entrepreneurs and industry players to address issues on technology, education, defence, fintech, green financing and energy, among others.
