HOW CAN AFRICAN ENTREPRENEURS HELP TO BEAT THE PROBLEM OF CORRUPTION?
HOW CAN AFRICAN ENTREPRENEURS HELP TO BEAT THE PROBLEM OF CORRUPTION? John Paul, for #africa #smallstarter #business In the last two decades, African entrepreneurs have applied their creativity and innovation to solving serious problems in financial services, affordable energy, sustainable housing, and access to quality education. But there is one big problem that remains the elephant in the room: corruption. If you do business on the continent, it can be hard to escape this ugly problem. In this article on Forbes, an entrepreneur in Ghana shares her experience losing 30 acres of locally-grown rice with $8,000 in bootstrapped funds and $11,000 in expected profit to corrupt actors. These kinds of stories are common across the continent. She later learned that the local chief of the community had a reputation for corruption. The problem with corruption is that it is systemic and has become 'normalized' behaviour. It now goes far beyond government offices and politicians...