Social Entrepreneurship in Africa

In a world where many economies have been slowed down by recession, Africa as a whole is actually experiencing growth rates that are exceeding the global average. Foreign direct investment has increased by more than 80% in the past decade, as the continent offers vast natural resources that remain largely untapped.

Social Entrepreneurship Tackles Africa Economic Problems

Yet most areas of Africa lack a developed industrial infrastructure, and due to this fact forty percent of agricultural produce perishes on the way to market. Many innovative businesses in Nigeria, for example, have taken matters into their own hands by developing their own power sources because the national grid cannot be relied on, despite this country’s considerable oil wealth.

An African middle class is emerging, and their demand for cheap houses has attracted the innovative flair of the social entrepreneurship sector. They often leverage funds from donors to establish operations which in time can flourish into profitable mortgage providers

Largest Social Entrepreneurship Organization in Africa

BRAC is the largest social entrepreneurship organization in Africa that most people have never heard of. It was founded long before social entrepreneurship was a buzz word, way back in 1972, by former Shell Oil executive Fazle Hasan Abed.

Interestingly, BRAC started out in Bangladesh (where I used to work), and I have seen firsthand some of the work that BRAC has done. Today, BRAC reaches 138 million of the poorest people in nine African and Asian countries, and has most recently launched a mission in Haiti. The organization seeks to empower people and communities in situations of poverty, illiteracy, disease and social injustice, and it does so with an annual operating budget of half a billion dollars.

The organization is funded in part by the Omidyar Network (ON). For an organization that has such a large impact, it is surprising that BRAC remains relatively unknown. The organization provides microloans, self-employment opportunities, health services, education, and legal and human rights services.

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