Entrepreneurship as a source of economic, political, and social improvement in Sub-Saharan Africa
Rabarijaona, Eric G.
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A three-country case study was used to analyze the economic, political, and social impacts of entrepreneurship, and the development of entrepreneurship in Sub-Saharan Africa was studied through the lens of five entrepreneurial factors (freedom, labor, infrastructure, governance, and business environment). An increase of foreign direct investments, growing economic freedom for citizens, and a higher gross domestic product per capita were among the economic benefits of entrepreneurship. Politically, stronger democracy, political rights, and civil liberties can be obtained from a growing level of entrepreneurship. Reduced unemployment, better education, higher health expenditures per capita, and development of the communications infrastructure were some of the social benefits. Lower cost for starting a new business and easier access to capital were the chief reasons behind Botswana’s greater level of entrepreneurship. Better governance, regulatory quality, infrastructure, and trade freedom have also helped to attract entrepreneurs for Botswana. For Zambia and Malawi, the coordination of entrepreneurial programs, business freedom, and the amount of corruption are better indicators to predict their levels of entrepreneurship instead of their measures of the rule of law or the regulatory quality. Botswana and Zambia are expected to march toward a virtuous cycle while Malawi appears to be in a vicious cycle.
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