Filling the Mentorship Gap in the African Business Ecosystem

Africa is a hub of talent. Its youthful population has made remarkable progress, building and innovating in all spheres. From health to arts to tech to financial services, new businesses are springing up across the continent. The good thing is, these businesses are not just businesses; they’re solutions to many of Africa’s perennial problems.?

For continued growth and sustainability, there is a missing piece in the African development puzzle - mentorship. Despite having a long list of successful persons across the continent, there seems to be a leadership vacuum in mentorship. A keen observer is quick to see that there is a general lack of mentorship culture in Africa.?

But why do Africans need mentorship? Mentorship is an accelerator. From helping young people build confidence to guiding their chosen careers, it is a system that enables. One of the roles of a mentor is to identify the mentee’s needs and what they have to do to achieve their objectives.?

We must give credit to Non-Governmental Organizations in Africa providing mentorship programmes targeted at harnessing the massive potential in the continent. For example, the Venture Capital for Africa (VC4A) has been connecting African startups with excellent opportunities combined with the knowledge and funding they require to succeed. They also provide a mentorship programme where founders can engaged mentors who can support their journey.

From Nigeria, The Tony Elumelu Foundation has supported over 9000 young African Entrepreneurs across 54 African countries. The organisations have taken the driving seat to ensure that the African venture industry continues to thrive.

However, it is not just enough yet. With businesses springing up daily for a 1.2 billion person market, there is an urgent need for more structured mentorship programmes to provide professional guidance to African companies.?

The benefits of proper mentoring are incremental. Besides gaining expert advice, support and knowledge, mentees also gain relevant skills to scale their businesses. For example, a mentor can help you identify potential business opportunities, gain clarity on business processes and have a clear vision of business projections. A crucial point to note is the down moments of an entrepreneurial journey. Mentors can help mentees navigate such periods successfully.?

With all of these in place, African ventures have a higher chance of survival. It will also translate into increased sales, productivity and profitability. The market is already fertile. Mckinsey predicts $5.6 trillion in African business opportunities by 2025.?

Africa has to fast-track its structural reforms to reach its full potential in the coming decades. At the same time, it must develop a culture of mentorship to be entrenched in the developmental process. Africa’s business ecosystem will benefit immensely from it, and it will provide a proper template for future generations to leverage.

The article was published on afrilabs.com/kubatana Page 46

Abideen Olasupo is the co-founder dHub Innovation Centre.