Major research reveals African entrepreneurs are set for take off

Micky Watkins, Chief Executive Officer of World Mobile

African business leaders are expecting the entrepreneurial spirit to take off over the next three years on the back of an improved environment for business and greater political stability, new research for blockchain-based mobile network operator World Mobile shows.

What were the findings of the study?

The study with leaders from firms with combined annual revenues of over $6.75bn found 70% expect improvements in the entrepreneurial spirit with 15% predicting a dramatic improvement. One of the reasons for the increase is the expansion of internet connectivity with 54% expecting dramatic improvements, the research among senior executives from Tanzania, Angola, Botswana, Cameroon, Ethiopia, Ghana, Nigeria, and South Africa found.

More than nine out of 10 (91%) believe the environment for doing business in Africa will improve while 70% are optimistic Western countries will increase their investment in the continent. Nearly two-thirds (65%) say greater political stability on the continent is boosting entrepreneurs while 59% say better education will support new entrepreneurs.

World Mobile is helping to revolutionise internet connectivity in sub-Saharan Africa and is already working with the government in Zanzibar where it is launching a unique hybrid mobile network delivering connectivity supported by low altitude platform balloons.

Its blockchain-based network vastly reduces capital expenditure and cuts prices compared to traditional telecom operators and World Mobile is in discussions to expand in Tanzania and Kenya, as well as other territories under-serviced by traditional mobile operators.

What are the thoughts of World Mobile on the study?

Micky Watkins, CEO of World Mobile said: “The African Development Bank estimated that Africa is the most entrepreneurial continent with millions looking to establish businesses.”

“The business environment and political stability are important to helping them but crucially there is also the issue of internet connectivity which is vital for most new businesses. It is good to see business leaders are confident but more needs to be done,” Micky added.

“Launching new businesses will unleash the potential of the continent and raise living standards. World Mobile’s network based on the sharing economy sells affordable network nodes to business owners, so they have the power to connect themselves and others. This will enable more people to access the opportunities that internet connectivity creates.”

World Mobile’s balloons will be the first to launch in Africa for commercial use, offering a more affordable way to provide digital connection and is the first step in its mission to help bring nearly four billion people online before 2030 in line with the UN and World Bank’s SDGs.

The World Mobile approach is more sustainable, in ESG terms. Environmental impacts are mitigated using solar-powered nodes, second-life batteries, and energy-efficient tech. World Mobile creates a positive societal impact through the application of its circular economy model – a “sharing economy” where locals share in ownership and rewards of the network.