What the Global Entrepreneurship Summit Means for Africa

Creative-Growth-800x542The financial analyst, Aly Khan Satchu, said that, “Kenya, and Nairobi in particular, is globally fluent, has 21st century connectivity and an impressive pool of human capital.” He’s right.

Previously, those words would describe a western city – but not anymore. He’s talking about Nairobi – a vibrant city in Africa – and that’s the new Africa. Nations like Kenya are a sample of the emerging trend on the continent.

Johnnie Carson and Mark Bellany, both former United States ambassadors to Kenya confirm that, “Kenya’s fast growing economy is based on a dynamic private sector, a diversified services sector and high education levels.”

What does this mean?

It means that after years of poverty, corruption, trial-and-error, African nations are finally finding blueprints that actually work and the results are evident.

Furthermore, just like the wild-fire of independence in the 1960s, this fire is going to spread. Nation after nation will eventually find what works despite their peculiar challenges.

The Global Entrepreneurial Summit is simply an official announcement to the world that Africa is ready to trade in ideas. The 21st century will experience an Africa that’s poised to do global business at any level.

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Why African Entrepreneurs Must Get It Right

WhyAfricaEntrepreneurship is a hot topic globally – and Africa is part of the action. That’s why the 6th Global Economic Summit (GES) in Kenya has the U.S. President, Barack Obama, involved. That said. What’s the role of the average African entrepreneur in all these?

One role is to: do good business that builds the community.

On the policy level, we expect key positive changes in the business environment due to the GES. But ultimately, the entrepreneur has to have the skill, scope and attitude required to maximize the benefits of policy.

In Africa, entrepreneurship has to go beyond money making because for Africans, the stakes are high. Now, doing business is about development, building prosperous communities and actually moving the continent forward!

The entrepreneur must realize that Africa’s socio-political and economic advancement depends on her business activities.

For too long, poverty, disease and wars have defined the African landscape – but that is changing. Young entrepreneurs in Africa must recognize this rare opportunity to rewrite the continent’s history and take full advantage of it.

In Africa, business is a development tool – and considering our history, we have to do it differently.

GES: Global Entrepreneurship Summit in Nairobi, Kenya

GESNairobi is my city – and this week, the feverish excitement is palpable. Walking through the city center, you would see the distinct change in the atmosphere, unlike other days. Traffic is insane, even the media is going wild. It’s crazy!

Why? Two things!

First, the U.S. President, Barack Obama, is coming home. Here, it’s a big deal. So yes, the U.S. Security Services are taking no chances. They are everywhere. This week, I suspect that Nairobi will be the most secure spot on the planet.

Second, the Global Entrepreneurship Summit (GES) is taking place in the East African hub. From the 24th-26th, innovators, entrepreneurs, investors and business leaders will be playing in my city. The excitement is fun. I’m enjoying it.

However, when the dust settles and the hype ends and President Obama goes home with his crew – what does it all mean?

I’ll enjoy the party, by all means. But after the party, I’ll roll up my sleeves and get to work because history has proven that hype alone is unsustainable. When the rubber meets the road, only those who are truly prepared enjoy the goods. For now, let’s have fun!