East Africa has become an attractive investment destination in recent years, owing to its improved business environment. According to Ernst & Young’s 2016 Africa attractiveness program, east African countries recorded the highest share of Foreign Direct Investment in Africa, achieving 26.3 percent of total projects.
Governments across the region have continued to build structures ready for every investment opportunity. The most important structures have been built in countries like Kenya and Rwanda, where the government has shown great support for innovation and entrepreneurship.
In 2012, the Rwandan government launched YouthConnekt, an initiative to encourage entrepreneurship among the country’s youth. The platform connects young people to role models, resources, knowledge and skills, internships and employment opportunities, enabling them to participate in shaping a better future for themselves, Rwanda and the World at large.
Jack Ma spoke at the YouthConnekt Africa summit on Friday. The summit was organized in collaboration with United Nations Development Program (UNDP) and United Nations Conference on Trade and Development (UNCTAD). Ma, who is also a special adviser for the UN on youth entrepreneurship, was in Kenya Thursday where he addressed a group of 500 aspiring business leaders at the University of Nairobi.
Ma has often advised developing countries to beware of creating regulations and taxes that could kill small businesses before they even get a chance to stabilize. In Kenya, he spoke of how opportunities for trade can increase through the use of e-commerce. He also advised the aspiring business leaders he met on how to be successful. Africa’s young generation has been setting global trends in innovation and technology. This incredible feat has been supported by policies and structures put in place by governments in countries like Rwanda and Kenya.