Promoting women and minorities owned enterprises in African countries.

Abstract

This paper attempts to examine the key issues relating to African women and minority owned enterprises development in the context of its relationship with economic development. The analysis is further broadened to underscore the determinants of women entrepreneurship development and the environment conducive for its operations. In addition, the policies that are necessary to make this environment favorable are discussed. The generic constraints faced are also listed out. The paper shows the need to accelerate economic development in African countries through promotion of women and majorities owned enterprises. Entrepreneurial orientations should be based on stimulating local entrepreneurial talent and subsequent growth of indigenous companies. This in turn would create jobs and add economic value to the region and at the same time keep scarce resources within the region. The paper recommends that African women and minority owned enterprises should be encouraged and taught to develop new entrepreneurial life styles, capacities, develop global sensitivity and strategic thinking capabilities. Therefore, greater gender equality, better institutions and more efficient economic functioning could possibly lead to access to opportunities, rights and voice.