In the continent of Africa, a few notable individuals or companies are worthy of mention. In recent years, Kenya has emerged as a hub for entrepreneurship in Africa, with a vibrant startup ecosystem and a growing number of successful entrepreneurs making their mark on the global stage. In Kenya, MSMEs account for approximately 46% of jobs in formal businesses and 82% of employment opportunities in locally registered and unregistered businesses (businesses with entrepreneurial-based activities).
One key aspect of entrepreneurship in Kenya is its focus on social impact and sustainable development. Many Kenyan entrepreneurs are leveraging technology and innovation to address pressing social issues such as healthcare, education and access to financial services. For example, companies like M-Kopa Solar and M-Pesa have revolutionised the way Kenyans access clean energy and financial services, leading to improved quality of life for thousands of people.
These social entrepreneurship initiatives not only create economic value but also generate positive social and environmental outcomes, making a real difference in people’s lives. Despite the significant progress made in the entrepreneurship ecosystem in Kenya (like many other African countries) challenges still remain the same. For example, access to finance, limited infrastructure and bureaucratic hurdles are some of the common barriers that Kenyan entrepreneurs face.
To address these challenges, the Kenyan governm.