Black entrepreneurs: powering Africa's equitable industrial revolution

WITH youth unemployment soaring—50% in South Africa alone—and a population projected to double to 2.5 billion by 2050, the continent teeters on the edge of crisis or transformation.

- NOMVULA MABUZA

Can black-owned enterprises, long stifled by systemic exclusion, ignite an industrial revolution that marries growth with equity? The evidence says yes.

From Nigeria's fintech pioneers to South Africa's green energy innovators, black entrepreneurs are forging a path defined by local ingenuity and sustainable impact.

Yet, their potential remains throttled by structural barriers.

This piece dissects the problem, uncovers root causes and charts a pragmatic course forward—because Africa's future demands nothing less.

“Africa's future lies in the hands of its entrepreneurs, who turn challenges into opportunities for inclusive growth,” says Akinwumi Adesina, President of the African Development Bank.

That vision is unfolding now. Black-owned businesses are not waiting for permission to reshape Africa's economy.

They're driving it:

Nigeria: Paystack and Flutterwave, black-founded fintechs, process over $10 billion annually, digitizing commerce for millions.

Kenya: Twiga Foods links 100,000 smallholder farmers to markets, slashing food waste by 30% and lifting incomes.

Ghana: PEG Africa's 100,000+ solar installations by 2022 have electrified rural homes, creating 1,000 jobs.

South Africa: Kiara Health, a 100% black-owned pharmaceutical firm, employs 200+ and produces affordable medicines, tackling healthcare gaps.