The young are key to future business success - CNBC Africa

The young are key to future business success

Southern Africa

by Tendai Dube 0

The Young Africa Works Summit revealed that technology will shape the way Africans do business.

The Young Africa Works Summit revealed that technology will shape the way Africans do business and young people will be key in this transition.

A lot of faith will be put on the youth to make sure businesses stay technologically and socially savvy as they best understand the language.

"Africa has the youngest youth population and that could mean a lot of things,” said Peter Bamkole, Director of the Enterprise Development Centre.

“It means there is energy, innovation and we can basically see Africa transforming the entire world."

What that means really is that beyond innovation, beyond energy, organisations like the Enterprise Development Centre, together with the youth, will be able to help make businesses become more sustainable.

“When that happens, you will see a whole new generation of businesses coming through from Africa, it’s about creating businesses that never existed before,” he said.

For example he speaks of how in previous elections in Nigeria young people were barely involved but because of an understanding of social media, in the last election 50 per cent of the budget set aside for advertising went to the youth.

Bamkole says that if businesses don’t go mobile within the next five years they will be left behind, a trend he is starting to notice.

The use of mobile money was a big success and now according to Bamkole, a lot of African students are learning through mobile learning facilities.

“We have the likes of GidiMobile that has been in existence for about three to five years, they are pushing that through very strongly - in health and in all kinds of areas we are actually seeing a lot coming using mobile."

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