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Institutional And Economic Foundations Of Entrepreneurship In Africa: An Overview

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  • NIR KSHETRI

    (The University of North Carolina — Greensboro, Bryan School of Business and Economics, P. O. Box 26165, Greensboro, NC 27402-6165, USA)

Abstract

Africa is arguably the richest continent in terms of minerals and natural resources. Prior research has also shown that Africa has an abundance of entrepreneurs who possess the ability to identify business opportunities and exploit them. However, the continent's entrepreneurial performance has been weak. Our goal in this paper is modest and is simply aimed at identifying and synthesizing the available evidence on economic and institutional factors affecting entrepreneurship in Africa. This paper also reviews various mechanisms by which foreign businesses are exploiting Africa for resources and market and examines Western response to the low level of entrepreneurial activities in Africa. Finally, this paper provides case studies of some successful entrepreneurial activities in the continent. The cases indicate that successful businesses do not necessarily need to depend on natural resources.

Suggested Citation

  • Nir Kshetri, 2011. "Institutional And Economic Foundations Of Entrepreneurship In Africa: An Overview," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 16(01), pages 9-35.
    • Handle: RePEc:wsi:jdexxx:v:16:y:2011:i:01:n:s1084946711001756
    DOI: 10.1142/S1084946711001756
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    References listed on IDEAS

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    1. Ernest Aryeetey & Christopher Udry, 2000. "Saving in Sub-Saharan Africa," CID Working Papers 38, Center for International Development at Harvard University.
    2. Paul Alagidede, 2009. "Are African Stock Markets Integrated with the Rest of the World?," The African Finance Journal, Africagrowth Institute, vol. 11(1), pages 37-53.
    3. Francis Teal, 1998. "The Ghanaian manufacturing sector 1991-1995: firm growth, productivity and convergence," Economics Series Working Papers WPS/1998-17, University of Oxford, Department of Economics.
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    Cited by:

    1. Michael Adusei, 2016. "Does Entrepreneurship Promote Economic Growth in Africa?," African Development Review, African Development Bank, vol. 28(2), pages 201-214, June.
    2. Folorunsho M. Ajide, 2023. "Institutions and Entrepreneurship in Africa: Does Democracy Matter?," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 32(3), pages 553-589, November.
    3. Michael A. Abebe & Yamlaksira S. Getachew & Sarah Kimakwa, 2022. "Entrepreneurs’ Ethnic and Political Identity Alignment as Determinants of Access to Government Support in Africa: A Conceptual Framework," Entrepreneurship Theory and Practice, , vol. 46(2), pages 449-476, March.

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