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Redefining African entrepreneurship in growth markets - CNBC Africa

Published 3 days ago2 minute read

Africa's start-up scene is garnering increased investor interest, particularly in sectors like fintech, healthcare, and sustainability. The MIT Kuo Sharper Center, backed by a $10.5 million commitment, is dedicated to leveraging capital and innovation to propel high-impact ventures forward. Executive Director Dina Sheriff recently sat down with CNBC Africa to shed light on the center's mission and the transformative power of entrepreneurship in redefining the narrative around Africa's economic landscape. Sheriff emphasized the importance of showcasing Africa as a dynamic and rapidly growing region ripe for investment, both locally and internationally. By highlighting the continent's entrepreneurial spirit and abundance of opportunities, the center aims to attract a diverse range of investors and support scalable ventures in key growth markets. Sheriff pointed out that while there has been growth in asset classes like angel investing and venture capital, there is still a need for exponential growth to meet the demands of Africa's burgeoning entrepreneurial ecosystem. She called for a broader base of Limited Partners (LPs) to invest in Africa, urging high net worth individuals and local capital holders to become LPs and drive innovation forward. The financial commitment from supporters like Sayuri and Craig Sharper reflects broader global trends in African entrepreneurship, highlighting the region's potential as a hub for innovation and growth. Sayuri Sharper's interest in Africa stems from the continent's promising demographics and economic prospects, with six of the world's fastest-growing economies located in Africa. With a large youth population and expansive consumer base, Africa presents significant opportunities for private sector growth and investment. The MIT Kuo Sharper Center's focus on Africa is underlined by the belief that shifting the narrative is crucial to attracting the necessary investment and fostering local value creation. By reframing growth markets as centers of abundance and opportunity, the center aims to drive innovation and industrial growth that benefits local economies. Sheriff stressed the need for better language and narratives that reflect the reality of growth markets as engines of global growth and innovation. By championing entrepreneurship and highlighting the potential for value creation and industrial development in growth markets, the center is paving the way for a new era of investment and economic prosperity in Africa and beyond.

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