ENTREPRENEURSHIP AND WEALTH CREATION IN AFRICA: THEORETICAL PERSPECTIVES AND PRACTICAL IMPLICATIONS IN BUSINESS AND FINANCE
Maryam Isyaku and Jamila Baba El -Yakubu, PhD
Volume 12 Issue 1
Abstract
Entrepreneurship plays a crucial role in fostering economic growth and wealth creation across African economies. Despite the continent's immense entrepreneurial potential, various socio-economic challenges such as limited access to finance, inadequate infrastructure, and regulatory barriers hinder the growth of entrepreneurial ventures. This study explores the relationship between entrepreneurship and wealth creation in Africa, focusing on the key theories of entrepreneurship, the practical implications for economic development, and the role of policy in promoting entrepreneurial growth. The study identifies the opportunities and challenges entrepreneurs face in African markets, particularly in sectors such as agriculture, technology, and services. By analyzing case studies of successful entrepreneurs and startups, the paper provides insights into effective strategies for wealth creation and sustainable business growth. The study also emphasizes the importance of government support, capacity building, and innovation in shaping the future of entrepreneurship in Africa. Policy recommendations are provided to enhance the entrepreneurial ecosystem, including improving access to finance, creating a conducive regulatory environment, and fostering innovation. This study contributes to the growing body of knowledge on entrepreneurship in Africa and offers directions for future research to better understand its impact on economic development. Keywords: Entrepreneurship, Wealth Creation, Economic Growth, Business, Finance, Innovation.
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