By Keith Marsden
Read or Download African Entrepreneurs: Pioneers of Development (Discussion Paper (International Finance Corporation)) PDF
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Extra info for African Entrepreneurs: Pioneers of Development (Discussion Paper (International Finance Corporation))
Due to the heavy involvement of masters in production, time spent in specifically training apprentices is extremely low and whatever training that is provided does not involve any theoretical backup on the technologies of the machines in use and repair. " The ILO review goes on to report that the typical manager in the informal sector cannot perform "a correct cost pricing exercise" and that only a third of informal enterprises keep records of any kind. " The ILO says that "All these factors help to explain the declining share of the informal sector in the total urban labor force in African countries.
3 The report goes on to suggest that "entrepreneurs will play a central role in transforming African economies. cit. Page 2 1 A Conflict over Development Strategy While more and more policymakers and aid donors are coming to believe that future development in Africa rests with entrepreneurs and markets, there are different views on which entrepreneurs can most effectively lead this development--modern entrepreneurs that hire labor and are part of the formal economy or the so-called informal sector--the self-employed and micro-enterprises staffed by unpaid family members that usually operate outside official regulations.
IFU (Denmark), USAID (United States), CIDA (Canada), BITS (Sweden) and CDI (European Community) to these projects. These bilateral aid agencies are participating in project implementation by providing loans, equity capital, and technical assistance. APDF itself is funded by several multilateral and bilateral aid organizations. A wider range of modern African entrepreneurs could be helped if more Official Development Assistance funds were made available as lines of credit to private financial institutions (commercial banks, development finance companies.