New business opportunities in Sub-Saharan Africa

Michael Sheriff, part of our team as Senior Expert for Africa, has completed with success his first year of a PhD at Padua University. He’s developing with GC&P a project on how to foster economic integration between Europe and SubSaharan Africa.

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An African Entrepreneurial Revolution is a must for the continent to actively participate in the global economic to reap the benefits that such an economy offers for the economic growth of individual countries in particular and the continent in general.

For nearly half a century after independence, the continent still relies predominantly on the export of natural resources and foreign aid for economic growth and development. This over reliance is a major challenge for sustainable economic growth and development since the natural reserves are dwindling at an alarming rate and the donor fatigue syndrome is affecting most of the countries.

The promotion of entrepreneurial economic growth could be the best alternative in the diversification of the economy away from dependence on the export of natural resource and philanthropic donations. Investors are now eying Africa just as a generation ago they helped Asian economies blossomed. Sub-Saharan Africa raised $1.5 billion last year for projects and in 2010 total foreign direct investment is more than $55 billion.

The main goal of this research for the doctorate is to identify, unlock and diffuse the opportunities that entrepreneurship offers in enhancing sustainable economic growth in Africa through the development of frameworks and programs that stimulate and support entrepreneurship. The main focus will be on the analysis of social and cultural context, entrepreneurial ecosystems and institutions, the environmental context and the contribution to economic growth. Case studies shall be conducted in ten countries of varying degrees of economic growth and development.

Michael Sheriff is member of the GC&P team that is promoting business development between Italian firms and companies in Africa. With his wealth of knowledge about the 54 countries in Africa, He is capable of assisting companies that would like to enter the African market.