By Keith Marsden
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Extra info for African Entrepreneurs: Pioneers of Development (Discussion Paper (International Finance Corporation))
In fact, one of the major purposes of APDF--and a major reason for its support by IFC--is to encourage exactly the types of entrepreneurial activities described herein. The Facility seeks to identify promising small businesses in Africa and then to provide the technical support that will ensure their success. Although APDF does not itself offer financing to these entrepreneurs, it helps in locating potential lenders and investors, and it does fund feasibility and market studies. APDF's assistance, therefore, can be critically important to entrepreneurs at a time when they are particularly vulnerable.
To ensure concerted action among all partners in development, an action program needs to be designed around the specific elements of the development strategy adopted. But an action program may be ineffective or even counterproductive if the broad strategic goals are ill-advised. The actions recommended by the advocates of an informal sector-led strategy emphasize social targeting and a combination of government paternalism, private philanthropy, and voluntary cooperation for the delivery of inputs.
These women have acquired skill and stable employment that would have been otherwise difficult to find. They can now support their families and ensure that their children get a better education. In fact, all the entrepreneurs interviewed have created productive jobs for Initially unskilled workers and devoted considerable time and resources to the development and upgrading of skills. These opportunities are often lacking within the informal sector, as noted above. The wages paid are usually higher than the statutory minimum wage or the prevailing agricultural wage rate, and the skills acquired more marketable.
African Entrepreneurs: Pioneers of Development (Discussion Paper (International Finance Corporation)) by Keith Marsden