Jobs will combat African poverty

Section 2 : A different approach is needed

In advanced economies, innovation is usually found through efficiency gains - producing more with fewer resources. Africa faces a different problem. The continent needs to find ways to create value with the vast resources that currently sit underutilized.

The best way to kickstart this process is to dramatically increase African entrepreneurs’ access to affordable capital allowing for expansion, larger workforces, worker training programs, and a safety net against unforeseen complications. Done properly, liquidity creates a positive feedback loop.

Governments must also invest in infrastructure and new power generation capabilities. Not only do large scale projects create the backbone for business development, but they also create jobs themselves.

As the private sector grows in power and reach, cronyism and corruption naturally lose their grip. Organic growth in the economy becomes the most powerful tool in the fight against these system-choking limitations.

For Africa to move forward, developing the private sector is the key. The private sector creates jobs, which provide growth opportunities to the public. This increases purchasing power, enabling the creation of new industries, building a cycle of improvement that lifts all boats.