The Great Recession was exceedingly bad for the world. But the post-recession created a massive redesign for Africa. In this piece, used in Harvard Business School Executive Education, I postulated on a “golden era of entrepreneurship” for the continent. I was correct. As we go through the current paralyses in Nigeria, we need to think, as business people, what the implications could be for tomorrow.
Unlike the Great Recession which was global, helping to shift the “knowledge” factor of production, from Europe and North America to Nigeria, the current mayhem in Nigeria could reverse the trajectory. If our brightest young entrepreneurs lose confidence in Nigeria, and switch, it would be sustained economic darkness. To avoid that, our leaders must LEAD with the fierce urgency of now.
Yes, they must invest to ensure we do not lose the battle of knowledge, and the application of that knowledge as that is the only way to become innovation societies with opportunities for young people.
Yes, they must invest to ensure we do not lose the battle of knowledge, and the application of that knowledge as that is the only way to become innovation societies with opportunities for young people. Unlike inventive societies which are characterized by ideas but little products and services to show for them, innovative societies offer solutions and in the process accelerate human welfare.
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