The Role of the Private Sector on Inclusive Growth in Africa

The Role of the Private Sector on Inclusive Growth in Africa

Desiree Sama-Lang

Pan-African University of Governance, Humanities and Social Sciences

DOI: https://dx.doi.org/10.47772/IJRISS.2024.8110261

Received: 20 November 2024; Accepted: 27 November 2024; Published: 23 December 2024

ABSTRACT

This study examines the role of the private sector in promoting inclusive growth across Africa, with a particular focus on employment generation and financial inclusion. Despite Africa’s significant economic growth in recent decades, approximately 40% of the population still lives below the poverty line, highlighting the need for more inclusive development approaches. Through a qualitative multiple case study analysis of five innovative private sector initiatives including M-Pesa (Kenya), Zipline (Ghana), Solar Turtle (South Africa), ActivSpaces (Cameroon), and the Tony Elumelu Foundation Entrepreneurship Program (Pan-African) this research investigates how private sector interventions contribute to inclusive growth. The findings reveal that private sector initiatives are most effective when they combine technological innovation with social impact, particularly in expanding financial access, healthcare delivery, renewable energy solutions, and entrepreneurship support. The study identifies significant challenges, including regulatory barriers, infrastructure deficits, limited access to finance, and skills gaps, which constrain the private sector’s potential. The research concludes that maximizing the private sector’s contribution to inclusive growth requires a coordinated approach involving policy reforms, infrastructure development, financial sector diversification, and stronger public-private partnerships. These findings have important implications for policymakers, development practitioners, and private sector stakeholders working to promote inclusive economic development in Africa.

Keywords: Private Sector, Inclusive Growth, Africa

INTRODUCTION

Africa’s journey toward sustainable development hinges critically on achieving inclusive growth, a model of economic expansion that provides broad-based opportunities and equitable distribution of its benefits. Inclusive growth lays emphasis on poverty and inequality reduction across socio-economic groups (Ali & Son, 2007). In spite of the fact that many countries have experienced high growth rates, poverty and inequality have remained prevalent across the continent where approximately 40% of people live on less than $1.90 according to World Bank estimates (World Bank , 2022). This highlights the need for an inclusive approach to economic growth that can uplift marginalized groups, reduce income disparities and improve living standards for all.

The private sector has the potential to considerably contribute towards the attainment of inclusive growth in Africa. Through its power to create jobs, increase productivity and promote innovation, it can serve as a tool for economic transformation. Small and medium-sized enterprises are particularly significant within the African context since they account for 90% of businesses and contribute about 50% of the Gross National Product (Murithi, 2017). Furthermore, these enterprises can address Africa’s demographic challenges wherein over 12 million youths enter the labor market annually but only about 3 million jobs are created (African Development Bank, 2016).

Also, the private sector can serve as a catalyst for financial inclusion which is a key component of inclusive growth. Financial services and especially digital financial solutions have the ability of enabling individuals and businesses to participate more fully in the economy. Mobile money platforms such as Kenya’s M-Pesa have revolutionized access to banking for millions of unbanked Africans especially in rural areas (Jack & Suri, 2014). Studies show that greater financial inclusion is associated with reduced income inequality and enhanced economic stability as it enables households to save, invest, and manage financial risks (Beck, Demirgüç-Kunt, & Levine, 2010). Through this expansion in access to financial services, the private sector empowers underserved communities and segments to engage in economic activities and also increase their resilience to shocks.

Although the private sector has the potential to drive inclusive growth it also faces significant obstacles in Africa. High regulatory costs, limited access to financing, and inadequate infrastructure hinder the scalability and productivity of businesses, particularly for SMEs (Gelb, Meyer, Ramachandran, & Wadhwa, 2017).

Furthermore, many African countries struggle with insufficient infrastructure, which raises operational costs and limits the ability of firms to reach wider markets. These challenges underscore the need for an enabling environment where policy reforms can foster private sector development and enhance its role in achieving inclusive growth (Bigsten & Soderbaum, 2006).

This paper examines the role of the private sector in promoting inclusive growth in Africa, focusing on its contributions to job creation, financial inclusion, and economic diversification. Using empirical evidence and case studies, the study discusses the structural challenges faced by the private sector and provides policy recommendations to maximize its impact on inclusive growth across the continent.

LITERATURE REVIEW

Employment Generation: The private sector is often recognized as key driver for employment. Its dynamic nature, efficiency and innovation make it pivotal for job creation particularly for developing economies. SMEs play a gigantic role in job creation especially in economies where large corporations are limited and government capacity to create jobs is strained. Studies have shown that SMEs represent over 90% of businesses and account for more than 50% of employment worldwide (Zongo, 2024). SMEs are also beneficial for broad-based growth since typically they are labor-intensive as compared to large businesses and corporations.

Employment generation by the private sector is also closely linked to skills development as firms in training to meet up with their operational needs and catchup with the shift towards knowledge-based economies in Africa. The private sector plays a key role in providing vocational training, on-the-job learning and skill-enhancing initiatives which are all key for enabling workers participate in higher-value segments of the economy (McGrath, 2012). The private sector’s role in skill-building is particularly significant for young workers, who gain access to training that public education systems may not offer. Skill development through private sector engagement also has long-term impacts on economic growth by building a more adaptable and capable labor force. This investment in human capital is crucial for sustaining employment generation in emerging industries, such as technology and renewable energy, that demand specialized skills (African Development Bank, 2021).

Financial Inclusion: Financial inclusion which refers to the accessibility of financial services to individuals and businesses at affordable costs has become a focus for economic development particularly in areas with high rates of financial exclusion. The private sector is able to promote financial inclusion by advancing innovation, expanding digital finance and enhancing access to financial services.

One of the most significant advancements in financial inclusion has been the rise of digital financial services and financial technology. Innovations including mobile banking, digital payments, and peer-to-peer landing platforms have enable underserved populations to access financial products more easily (Adelaja, Umeorah, Abikoye, & Nezianya, 2024). For instance, mobile money services which is championed by the private sector in many developing countries have transformed the financial landscape allowing users to transfer money, pay bills and access credit without a traditional bank account (Jack & Suri, 2014). These innovations lower transaction costs and reduce physical barriers, making financial services more accessible to rural and low-income populations.

Microfinance institutions are another vital component of the private sector’s role in financial inclusion Microfinance institutions provide small loans and other financial services to individuals who lack access to traditional banking services. Microfinance institutions contribute to financial inclusion by offering credit to entrepreneurs and small business owners, enabling them to expand their businesses and improve their income stability (Arouri, Youssef, Dahmani, Durairaj, & Mungomba, 2014). Microfinance institutions, such as Grameen Bank and others, showcase how private sector-driven models can enable financial inclusion through specialized services tailored to low-income populations (Banerjee & Duflo, 2011). Similarly, private insurance providers have developed micro insurance products that protect low-income households against risks, thus enhancing financial resilience (Churchill & Matul, 2012).

Collaborations between the private sector and government agencies have proven effective in extending financial inclusion. Public-Private Partnerships (PPPs) hinge on the strength of each sector by combining government oversight and infrastructure with private sector expertise and efficiency (Cull, Ehrbeck, & Holle, 2014). These partnerships are especially critical for the development of inclusive financial infrastructure, such as digital identity systems and mobile network expansions, which support broader financial access (Gelb & Clark, 2013).

METHODOLOGY

This research adopts a qualitative approach to explore the role that the private sector plays in promoting inclusive growth in Africa. Through an in-depth analysis of selected case studies, this methodology has the objective of gaining a comprehensive understanding of the mechanisms, challenges and outcomes associated with the private sector initiatives of employment generation and financial inclusion in promoting inclusive growth across different African contexts.

The study is structured as a multiple case studies analysis which (Yin, 2009) describes as an appropriate method for exploring complex social phenomena within real life contexts. A qualitative approach especially through case studies enables a deep exploration of diverse strategies and impacts of private sector actors across African nations. This design is beneficial in examining the unique economic, social, and institutional environments that shape inclusive growth outcomes in Africa.
Purposive sampling is used to select cases that are representative of diverse African economies, industries, and geography. The cases are chosen based on geographic diversity, sectoral representation and the scope of private sector involvement in inclusive growth initiatives. This sampling strategy allows for a comprehensive exploration of the private sector’s role across varied African contexts. The cases include initiatives by multinational corporations, local businesses, and public-private partnerships.

Data is collected through secondary sources, including reports, policy documents, and evaluations of private sector projects related to inclusive growth in Africa. Sources include publications from development agencies, African governments, and private sector organizations, providing rich data to triangulate findings and ensure validity. Additionally, journal articles and case study reports from reputable research institutions provide empirical insights into each case’s impact on inclusive growth.

Data is analyzed using thematic analysis under the themes of employment generation and financial inclusion to identify recurring themes and patterns across cases. This approach facilitates the identification of key drivers, challenges, and outcomes associated with private sector engagement in inclusive growth. A cross-case synthesis is also conducted, enabling the comparison of findings across cases to draw broader conclusions about the private sector’s role in Africa’s inclusive growth.

FINDINGS

Case Study 1: Kenya’s M-Pesa

M-Pesa, a Swahili word that means ‘mobile money’ in English is a mobile money service that was launched in 2007 by Safaricom a private telecommunications company in Kenya. It has since become Africa’s largest fintech and has grown to serve more than 51 million customers and 465,000 businesses (Vodafone, 2022). Through mobile technology that allows users to send, receive, and store money using mobile phones, M-Pesa circumvented traditional banking systems, expanding access to financial services for millions of Kenyans previously excluded from formal financial structures (Jack & Suri, 2014).

In 2006, a year prior to M-Pesa’s launch, only 18.5% of Kenyans used formal banking services (bank accounts), 8.1% used semi-formal services (Microfinance institutions), 35% used the informal sector (rotatory savings and credits institutions), and no less than 38.3% were completely excluded (Van Hove & Dubus, 2019). M-Pesa tried to bridge the financial inclusion gap by using mobile phones as a platform for financial services, including money transfers, bill payments, and savings accounts. By 2016, 96% of households outside the Kenyan capital of Nairobi have at least one M-Pesa account (de Soyres, Jelil, Cerruti, & Kiwara, 2018). Through this accessibility, low-income households gained a platform for savings, enabling them to better manage risks and make long-term investments, which is crucial for promoting equitable economic growth (Jack & Suri, 2014).

The adoption of M-Pesa had a tremendous impact on the start-up scene of Kenya particularly in Nairobi. Due to the limited requirements needed to access funds using the platform, small businesses and entrepreneurs could easily access funds without a formal bank account. In 2017 alone, Kenyan startups raised a total of US$32.8 million which was the third largest amount raised by any single country on the continent according to the African Tech Startups Funding Report. This access improved cash flow and business resilience among low-income entrepreneurs, fostering an environment where economic opportunities became accessible to a broader segment of the population. M-Pesa also created new business ecosystems, including agency banking networks, employing thousands as agents across urban and rural Kenya, furthering employment opportunities and promoting localized economic empowerment (Suri & Jack, 2016).

The service has also had social impacts particularly on poverty and women empowerment. Access to the service increased consumption levels over a six year period enabling an estimated 186,000 households or as many as 2% of Kenyan households to move out of poverty with the impact on female headed household more than twice the average measured (Suri & Jack, 2016) (Dawson, 2017). Thus, the ease of sending and receiving money was able to make a difference and positively impact several low-income households and promote gender inclusivity.

M-Pesa’s model highlights how private sector innovation can contribute to inclusive growth, showing that by addressing financial exclusion, private companies can generate social impact while remaining profitable. This synergy of social and economic value through M-Pesa’s framework has positioned it as a benchmark in analyzing private sector contributions to inclusive growth.

Case study 2: Ghana’s Zipline

Zipline is a typical case of how private sector initiatives can drive inclusive growth by addressing challenges in healthcare delivery. Zipline is California-based drone delivery company that launched its services in Ghana in 2019. It utilizes drone technology to deliver critical medical supplies such as blood, vaccines, and medicines to remote areas, bridging infrastructural gaps in the healthcare system. This initiative highlights the transformative potential of technology and public-private partnerships in achieving social and economic inclusion. Its contribution to inclusive growth lies in its ability to enhance healthcare access, particularly for marginalized populations, thereby improving human capital and economic participation.

Ghana’s healthcare faces significant challenges particularly in remote and rural areas that have limited infrastructure. Zipline’s drones enable rapid reliable delivery of medical supplies thus overcoming logistical challenges such as poor roads and long distances and also drastically reducing the delivery time. With 6 hubs in Ghana Zipline covers more than 2,200 health facilities that provide services to approximately 12 million people (Kremer, et al., 2023). As of November 2022 over 6 million doses of vaccines from the National Immunization Programme and about 2.4 million medical products had been delivered by drones in the country (Kremer, et al., 2023). This enhanced access to critical health services reduces healthcare inequalities and improves outcomes for underserved communities.

Zipline’s technology has been instrumental in reducing maternal and infant mortality rates by ensuring timely delivery of blood for transfusions. Access to specialized blood components had been a challenge for most low and middle income households in Ghana. Haruna, Opoku, and Agyei-Baffour (2024) found that in the Eastern Region of Ghana, Zipline’s drone technology significantly increased the availability of blood products which also led to a substantial reduction in maternal mortality ratios. It also supports national vaccination campaigns by maintaining consistent supply chains, even in emergencies such as during the COVID-19 pandemic. Such efforts align with the broader goals of inclusive growth by prioritizing the health of marginalized populations, a prerequisite for sustained economic participation.

The company’s operations in Ghana have also contributed to job creation by employing local staff to manage drone operations, logistics, and supply chain systems. In addition, it has introduced cutting-edge drone technology to Ghana thus promoting innovation and building local capacities in advanced technology. This technological diffusion supports broader economic development and skills acquisition, essential components of inclusive growth.

Zipline’s introduction by the Government of Ghana is a typical example of a public-private partnership. The Ministry of Health has integrated Zipline’s services into Ghana’s national healthcare strategy, ensuring sustainability and scalability. The Ghanaian government’s investment in this partnership highlights its role of enabling policies by the private sector that leads to inclusive growth.

Case Study 3: South Africa’s Solar Turtle

Solar Turtle is a social enterprise focused on renewable energy that is a typical example of how private sector innovation can promote inclusive growth. Founded in 2012, it provides solar-powered microgrid solutions to underserved and off grid communities thus promoting sustainable development and enhancing economic participation.

South Africa is faced with significant energy inequalities with many rural and off-grid communities lacking reliable electricity. This hampers economic development, limits access to education and healthcare, and perpetuates poverty. Solar Turtle addresses this gap through secure container-based solar microgrid systems that are easily deployable in remote areas. Each unit is equipped with fold-out solar panels and is designed to withstand theft and vandalism which is a common challenge in energy projects in underserved regions (Urban & Maphalala, 2019). By providing cleaner and more reliable energy, Solar Turtle empowers households and small businesses and thus promotes social inclusion.

Solar Turtle has a strong focus on community empowerment particularly for women and youths. It uses a franchise model wherein solar kiosks are managed by local entrepreneurs, mostly women, thus providing them with a source of income (Van der Walt, Van Niekerk, Crewe-Brown, & Fairhurst, 2015). This initiative not only promotes gender inclusivity but also equips individuals with business and technical skills, enhancing their economic prospects.

By promoting solar energy, Solar Turtle also reduces dependence on fossil fuels and mitigates environmental degradation. This supports South Africa’s transition to a greener economy while addressing the energy needs of underserved populations. Thus, it aligns with global goals for sustainable development and positions the private sector as a key player in mitigating climate change while driving inclusive growth.

Case Study 4: Cameroon’s ActivSpaces

ActivSpaces is a tech incubator based in Cameroon that offers a classic example of the private sector driving inclusivity through innovation, entrepreneurship and digital inclusion. Established in 2010, African Center for Technology, Innovation and Ventures (ActivSpaces) is a tech hub and co-working space that empowers startups and entrepreneurs by providing resources, training, and networking opportunities. The initiative aims to nurture a vibrant tech ecosystem that contributes to job creation, economic participation, and community development. In its 13 years of existence, it has supported more than 200 entrepreneurs, created more than 20 communities, ran 25 projects and has 3 hubs (ActivSpaces, 2024).

ActivSpaces serves as a catalyst for entrepreneurship by providing start-ups at the early stages with the tools and environment needed to develop their ideas into viable businesses. Through incubation programs, mentorship, and access to funding, the hub has supported numerous startups in sectors including fintech, agritech and e-commerce (Koba, 2023). These startups, in turn, create jobs and contribute to the local economy, particularly for youth, who face high unemployment rates in Cameroon. Through its incubation programs, ActivSpaces has supported successful startups such as FeePerfect (an IT solutions provider) and Dikalo (a social networking app) which have gained regional recognition and served as tools for creating local employment.

ActivSpaces plays a vital role in reducing barriers to entrepreneurship for marginalized groups, including women and rural innovators. Its initiatives often prioritize inclusivity by offering programs tailored to underrepresented demographics in the tech ecosystem. One of its hubs has two initiatives tailored towards supporting female entrepreneurship and they include ‘RevUp Women’ and ‘Growth for Her’ (ActivSpaces, 2024). Another hub promotes rural entrepreneurship and has the ‘Our Village’ program that is aimed at stabilizing and promoting local economic activities in rural communities through digital community vouchers which is an innovative instrument created using blockchain technology (ActivSpaces, 2024).

Case Study 5: The Tony Elumelu Foundation Entrepreneurship Program (Pan-African)

The Tony Elumelu Foundation (TEF) Entrepreneurship Program which was launched in 2015 is a flagship initiative aimed at empowering entrepreneurs across Africa. It exemplifies the transformative role of the private sector in promoting inclusive growth by addressing barriers to entrepreneurship, promoting innovation, and supporting SMEs. The mission of the foundation is rooted in Africapitalism which positions the private sector as the catalyst for social and economic development on the African continent. It empowers African entrepreneurs with the tools, funding, and networks needed to build sustainable businesses that create jobs, reduce poverty, and promote economic transformation across the continent.

The TEF program identifies and supports emerging entrepreneurs across all 54 African countries annually through its initiative. Participants receive between $3,000-$5,000 in seed funding, training, and mentorship in order to help them scale their businesses. Since its launch, the program has disbursed over $100 million in funding to 20,000 young entrepreneurs (Tony Elumelu Foundation , 2024).

The program emphasizes job creation in order to address Africa’s high unemployment rate particularly among youths. Entrepreneurs who have participated in the program reportedly collectively created over 400,000 direct and indirect jobs (Tony Elumelu Foundation , 2024). Furthermore, TEF supports entrepreneurs across different sectors including agriculture, technology, healthcare, education, amongst others which ensures sectoral inclusivity. Moreover, the program reaches entrepreneurs in rural and underserved areas, fostering geographic inclusivity and reducing regional economic disparities. TEF also has a strong focus on gender inclusivity. The program created an additional training program called ‘Women Entrepreneurship for Africa’ in order to provide funding to women entrepreneurs from the TEF alumni network.

CONCLUSION

The private sector holds immense potential as a driver of inclusive growth in Africa through various channels particularly employment generation and financial inclusion as demonstrated by the case studies reviewed. The case studies examined ranging from M-Pesa’s revolutionary financial services in Kenya to Zipline’s healthcare innovations in Ghana illustrate how private sector initiatives can effectively address development challenges while promoting economic inclusion.

The evidence suggests that private sector contributions to inclusive growth are most effective when they combine technological innovation with social impact. M-Pesa’s success in extending financial services to previously unbanked populations, Zipline’s enhancement of healthcare delivery in remote areas, and Solar Turtle’s provision of renewable energy solutions all demonstrate how private sector innovation can address fundamental development challenges while creating economic opportunities. These initiatives have not only generated employment but have also empowered marginalized groups, particularly women and youth, to participate more actively in the economy.

However, challenges persist that limit the private sector’s potential to drive inclusive growth. Regulatory barriers create restrictive regulatory environments that hamper private sector growth and innovation. There are also infrastructural deficits including inadequate physical and digital infrastructure which increase operational costs and limit market access. Furthermore, many private businesses particularly SMEs struggle to access the capital needed for expansion and innovation. There is often a mismatch between available skills and market demands, limiting employment opportunities. All these constraints hinder the scalability and impact of private sector initiatives and highlight the need for supportive policy environments.

In order to maximize the private sector’s contribution to inclusive growth several key interventions are necessary. Firstly, there needs to be policy reforms in governance that can streamline business registration and licensing processes, develop supportive regulatory frameworks for innovative business models, and strengthen intellectual property protection to encourage innovation. More efforts should be in developing infrastructure by prioritizing investments in digital infrastructure to support technological innovation, and improve transport and logistics networks to enhance market access. The financial sector needs to be diversified to expand financial inclusion and to promote alternative financing mechanisms for SMEs. Governments should also promote digital literacy and entrepreneur by embedding them in their educational curricula. The government and the private sector should foster partnerships and serve as complements for each other in key development areas through public-private partnerships.

The research concludes that while the private sector has demonstrated significant potential in promoting inclusive growth, realizing this potential requires a coordinated approach involving multiple stakeholders. Governments must create enabling environments through policy reforms and infrastructure development, while development partners can provide technical assistance and risk-sharing mechanisms. The private sector itself must continue to innovate and adapt business models to address local challenges while maintaining commercial viability.

Future research should focus on quantifying the impact of private sector initiatives on inclusive growth indicators, particularly in terms of poverty reduction and income distribution. Additionally, more attention should be paid to understanding how technological innovations can be scaled effectively across different African contexts while ensuring inclusivity and sustainability.

LIST OF REFERENCES

1. ActivSpaces. (2024, November 18). Hubs: ActivSpaces Douala. Retrieved from ActivSpaces Website: https://www.activspaces.com/
2. Adelaja, A. O., Umeorah, S. C., Abikoye, B. E., & Nezianya, B. C. (2024). Advancing financial inclusion through fintech: Solutions for unbanked and underbanked populations. World Journal of Advanced Research and Reviews, 23(1), 427-438.
3. African Development Bank. (2016). Jobs for Youth in Africa: Catalyzing youth opportunity across Africa.
4. African Development Bank. (2021). African Economic Outlook 2021: From Debt resolution to growth. African Development Bank.
5. Ali, I., & Son, H. (2007). Defining and measuring inclusive growth: application to the Phillipines. Asian Development Bank Economic Working Paper series(98).
6. Arouri, M., Youssef, A. B., Dahmani, M., Durairaj, V., & Mungomba, N. (2014). Microfinance: A powerful tool for human development in Africa. In A. Soucat, & N. Mthuli, One billion people, one billion opportunities. Tunis: African Development Bank.
7. Banerjee, A. V., & Duflo, E. (2011). Poor economics: A radical rethinking of the way to fight global poverty. Public Affairs.
8. Beck, T., Demirgüç-Kunt, A., & Levine, R. (2010). Financial institutions and markets across countries and over time: The updated financial development and structure database. World Bank Economic Review, 24(1), 77-92.
9. Bigsten, A., & Soderbaum, M. (2006). What have we learned from a decade of manufacturing enterprise surveys in Africa? The World Bank Research Observer, 21(2), 241-265.
   Churchill, C., & Matul, M. (2012). Protecting the Poor: A Microinsurance Compendium (Vol. II). International Labour Organization.
10. Cull, R., Ehrbeck, T., & Holle, N. (2014). Financial Inclusion and Development: Recent Impact Evidence. Focus Note .
11. Dawson, S. (2017, January 18). Why Does M-PESA Lift Kenyans Out of Poverty? Retrieved from CGAP website: https://www.cgap.org/blog/why-does-m-pesa-lift-kenyans-out-of-poverty#:~:text=Access%20to%20M%2DPESA%20increased,Woman%20farmer%2C%20Kenya.
12. de Soyres, F., Jelil, M. A., Cerruti, C., & Kiwara, L. (2018, October 3). What Kenya’s mobile money success could mean for the Arab world. Retrieved from World Bank Group website: https://www.worldbank.org/en/news/feature/2018/10/03/what-kenya-s-mobile-money-success-could-mean-for-the-arab-world
13. Foster, C. (2024). Intellectual Property Rights and Control in the digital economy: Examining the expansion of M-Pesa. The Information Society, 40(1), 1-17.
14. Gelb, A., & Clark, J. (2013). Identification for Development: The biometrics revolution. Center for Global Development(315).
15. Gelb, A., Meyer, C., Ramachandran, V., & Wadhwa, D. (2017). Can Africa be a manufacturing destination? Labor costs in comparative perspective. Center for Global Development(466).
16. Haruna, F., Opoku, D., & Agyei-Baffour, P. (2024). Effects of Drone Technology on access to blood and blood components for improved maternal health outcomes in underserved communities in Ghana: A cross sectional study.
17. Jack, W., & Suri, T. (2014). Risk sharing and transaction costs: Evidence from Kenya’a mobile money revolution. American Economic Review, 104(1), 183-223.
18. Koba, M. (2023, April 14). ActivSpaces supports entrepreneurship and innovation in Cameroon. Retrieved from We are tech Africa: https://www.wearetech.africa/en/fils-uk/tech-stars/activspaces-supports-entrepreneurship-and-innovation-in-cameroon
19. Kremer, P., Haruna, F., Sarpong, R. T., Agamah, D., Billy, J., Osei-Kwakye, K., . . . Okoh-Owusu, M. (2023). An impact assessment of the use of aerial logistics to improve access to vaccines in the Western-North Region of Ghana. Vaccine, 41(36), 5245-5252.
20. McGrath, S. (2012). Vocational education and training for development: A policy in need of a theory? Journal of Educational development, 32(5), 623-631.
21. Murithi, S. (2017). African Small and Medium sized enterprises: Contributions, Challenges and Solutions. European Journal of Research and Reflection in Management Science, 5(1), 36-48.
22. Suri, T., & Jack, W. (2016). The long-run poverty and gender impacts of mobile money. Science, 354(6317), 1288-1292.
23. Tony Elumelu Foundation . (2024). About Us: Tony Elumelu Foundation . Retrieved from Tony Elumelu Foundation website : https://www.tonyelumelufoundation.org/about-us
24. Urban, B., & Maphalala, J. (2019). Solar turtle: searching for the game changer. Emerald Emerging Markets Case Studies, 9(2), 1-20.
25. Van der Walt, R. J., Van Niekerk, J. L., Crewe-Brown, J. J., & Fairhurst, J. (2015). DESIGN CONSIDERATIONS FOR A SOLARTURTLE. 3rd Southern Africa Solar Energy Conference.
26. Van Hove, L., & Dubus, A. (2019). M-PESA and Financial Inclusion in Kenya: Of Paying Comes Saving? Sustainability, 11(3).
27. Vodafone. (2022, March 7). M-Pesa – Africa’s leading Fintech platform -marks 15 years of transforming lives. Retrieved from Vodafone website: https://www.vodafone.com/news/empowering-people/mpesa-marks-15-years
28. World Bank . (2022). Inclusive Growth: Policy Changes in the Global Economy. World Bank.
29. Yin, R. K. (2009). Case study research: Design and methods . Sage.
30. Zongo, T. A. (2024). Small and Medium Enterprises in Africa: What Kind of Management for Adequate Growth? OALib, 11(1), 1-18.