Thesis submitted in fulfilment of the requirements for the degree
Master of Technology: Business Administration in Entrepreneurship
in the Faculty of Business Administration : Entrepreneurship
at the Cape Peninsula University of Technology / Africa is estimated to have more than 66% of the world’s natural resources, it is these natural
resources that are converted into products that bring about the wealth the world has.
Exploitation of these abundant resources has created numerous job opportunities worldwide,
yet the continent continues to reel under extreme poverty. Millions of African children die
each year due to undernourishment in a continent with virgin arable land which can produce
enough food to feed the world. The African continent, the world’s second largest continent in
size, can be easily classified as the intensive care unit. The continent houses 1.033 billion
people which is about one sixth of the world’s population. An estimated 840 million people
worldwide have no food to eat, and Africa houses 223 million of this foodless population. This
means that, whilst Africa gives residence to one sixth (17%) of the world population, just over
one quarter (26.4%) of the world’s starving population is in the second largest continent
which has two thirds (67%) of the world’s wealth in mineral resources. One third of infant
deaths in Sub-Saharan Africa are caused by hunger, with 23 million school children going to
school hungry. Africa needs infrastructure and institutions to help the process of
development and subsequent eradication of these high levels of poverty and illiteracy on the
continent. Though Africa has more arable land that can be used, 45% of African households
are affected by hunger. The IMF Chief Executive Officer recommended three critical areas
that will influence the economic growth and development of Africa; "Build infrastructure, build
institutions, and build people."
The continent must improve governance, transparency and create sound economic
frameworks for growth. Today, only one in five people in Africa find work in the formal sector
because of the underdevelopment and lack of industries in a continent estimated to have
more than 66% of the world’s natural resources. Entrepreneurship, the panacea for the
African social and economic quagmire needs to take central stage in this rich continent
inhabited by chronically poor people. African academics are challenged to come to the
rescue since politicians have failed the continent. If it were possible, I would lock up the
academics and politicians in one room and deny them food to eat and water to drink until
they found an amicable solution to the misery bedevilling the world’s richest continent.
Africa is characterized by high levels of political instability emanating largely from poverty
and a highly illiterate populace, in a continent with a high growth rate - this is not positive
news. The political unrest in Africa is largely due to chronic adjunct poverty caused by the
absence of visionary leadership, and the post-colonial Africa is merely a change of hands
with maintenance of status quo. At best the leadership is known for its geocentricism and
self-preservation of the old boy scouts’ mentality where they protect each other whilst the
fires of poverty consume and destroy the vestiges of the little that is left of African dignity. The birth rate on the continent is 38 per every 1000 and a death rate of 14 per every 1000.
Even with such a relatively small population, the continent is not able to feed itself. The
unemployment levels are disturbingly high in a continent with such high birth rates. Below
standard education, and continued exploitation of natural resources by external investors are
part of the norms the black race has to live with. If Asian countries without mineral wealth
have turned the tide of poverty, why should Africa with all the resources continue in poverty?
How long will Africa continue with leaders without direction? Is it not true that ‘where there is
no vision the people perish?’
The study was conducted making a comparison of two African countries (Gabon and South
Africa) to try to establish the relevance of the entrepreneurship policies and programs. The
research findings point out a series of policies which are not supported by other factors in
relation to the ability of citizens to benefit. It concludes that there is a greater need for other
programs like higher levels of education, skills training and accessibility to business funding
to enable the African countries to end chronic poverty.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:cput/oai:localhost:20.500.11838/1793 |
| Date | January 2014 |
| Creators | Mihindou, Igor Rossi |
| Publisher | Cape Peninsula University of Technology |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis |
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