Taking an Ecosystem View for Inclusive Development in Africa

Earlier this year in February 2014, Intellcap launched its inaugural Sankalp Africa Summit in Nairobi.  I had the opportunity to attend the summit that brought together about 350 SMEs, investors, policy makers and academia to push for an ecosystem view of inclusive approach to development in Africa. It is undeniable that the continent is emerging as an entrepreneurial destination for technology and mobile innovations, fintech trends in East Africa targeting mobile payments demonstrate how technology can be used to cater for a growing global market. Innovative business models that seek to create both financial and social value are on the rise.  The presence of impact hubs on the continent is growing. How best can the continent leverage its entrepreneurship talent to create inclusive development? This question among many others, only represents the necessity for governments and the private sector to garner resources that help unlock effectively the entrepreneurial spirit on the continent. Sankalp Africa Summit was organized to help answer this question by curating conversations that analyzed closely how greater harmonization between different market based approaches for development such as impact investing, SME-led growth, social enterprises among others can be used to spur inclusive economic development on the continent.

Sankalp Forum is among the largest social enterprise focused gathering platforms in the world. Derived from the ancient Sanskrit word “sankalpa” meaning determination; it builds an enabling ecosystem for early-stage social enterprises, channels investments, and engages over 11,000 people globally through collaborative year-round initiatives. As a young African visionary who believes strongly in the power of collaboration, the ethos of Sankalp reiterated to me the significant role engagement of stakeholders across diverse sectors have to play to create  a sustainable and inclusive powerful systemic change in Africa.  Particularly, an a supportive environment with abundant resources of mentors and investors ready to offer  resources to emerging entrepreneurs can happen when stakeholders from different sectors hold hands to work together. There is so much untapped entrepreneurial talent on the continent that can be unleashed effectively through collaborative and common action. For many years, the government has been perceived as the sole solution provider for the challenges a country faces. While I acknowledge the government carries a big responsibility to meet the needs of its people, there is a need to empower more young people to venture into entrepreneurial endeavors to develop businesses that have a social impact incorporated into their model.

As the word Sankalp calls for an engagement of different stakeholders, development in Africa requires a similar approach of collaboration which brings together stakeholders from different sectors on the same table to discuss and develop collaborative strategies that create an enabling environment for small and medium enterprises in the region to thrive. It is undeniable that the continent continues to face many economic and social challenges, but great opportunities lie in the midst of the limitations. Sankalp is one step towards making things better for the continent, and I hope to see more collaborative platforms developed. I hope to see more convening conferences, organized by Africans who are willing to put in the work to create a difference. A mindset of dependency will only hurt us, what we need in a culture of self-sufficiency, grounded on an understanding that while owning responsibility for creating positive change is vital, a willingness to get support from external sources only makes the solution creation process better. No island can solve its own problems, it will take stakeholders from all parts of Africa and the world to create a better supportive environment for entrepreneurs to thrive.