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Monday, 19 November 2012

Europe remains Africa's favourite trade partner

Young African businessmen see Europe as more profitable to trade, despite its current economic woes, according to a new report into entrepreneurial attitudes in Africa.
The Association of Business Executives’ (ABE) report revealed that one in three entrepreneurs say the EU is the most potentially lucrative global region, while just 3 per cent say the same of North America . Africa itself trailed in third place, as only 18 per cent of entrepreneurs consider that trade within the continent offers the most potential for profit.
The survey also indicates that most business students- 99 per cent- do not see foreign aid as the answer to the job crisis affecting Africa. "Almost half (47 per cent) of African business students said that to create jobs Africa must focus on improving support for entrepreneurs," said ABE in a statement. "The second most important need was for education systems that were geared to skills that match available jobs."
The report also shows that not many African business students are keen on starting businesses immediately after completion of their courses; 95 per cent of the students said they want to start a business, but only one is seven wanted to do so within 12 months while the others preferred to do it within a time frame of five years. Bill Gates is by far the business person most admired by African entrepreneurs, with 37 per cent of the votes.
The survey was conducted on 12,000 African business students registered with the British qualifications body Association of Business Executives (ABE).


Source: All Africa