The Global One Million Initiative in Perspective
We are establishing systems and frameworks that gradually and systematically transition existing Africa’s micro and small enterprises into globally competitive businesses capable of creating decent jobs sustainably
Why are we doing this?
While starting new businesses is beneficial in encouraging the spirit of enterprise, in relative terms however, it is faster to create more and decent job opportunities by catalyzing the existing enterprises
There is an urgent need to provide catalytic mechanisms that enable Africa’s Micro and Small Enterprises to consistently create decent jobs to absorb Africa’s bulging young labor force in a sustainable pattern. By that, we are able to catalyze Africa’s Agenda 2063, as well as the UN’s Sustainable Development Goals
This Sector is a gold mine with the potential to change the fortunes of African economies as long as deliberate investments are directed to it. It does constitute 90% of all businesses in Africa and they contribute 80% of all jobs created.
Great progress and achievement is bolstered through strategic partnerships and alliances. The partnerships we are building in respect to this program are intended to create the best leverage possibilities that facilitate Micro Enterprises to transition to Small Businesses, and eventually to Medium-size companies, backed with the capabilities to be competitive in a globalized marketplace
Progressive policies that are pro-small enterprises can only be enacted effectively both at the National and Continental level driven by evidence that captures the unique economic context of each Country.
- To strengthen the financial capacity, mandate and scope of Government Agencies that are directly responsible for the growth and development of Micro and Small Enterprises in each Country in Africa
- Create a database of Small and Micro Enterprises that exhibit the potential to become continental-globally competitive businesses and facilitate them to grow
- Build robust frameworks that demonstrate various perspectives on what it means/takes to grow sustainable and globally competitive small businesses in each African Country
- Use the Program’s outcomes to help African Governments to improve policy and regulatory frameworks that promote the growth and development of Micro and Small Enterprises Sector
Program Features & Processes
Key processes in the program.
- Selection of participants using tools/criteria that are customized to each African Country
- Debt financing made available, accessible at the click of a button and affordable from the beneficiaries perspective
- Enterprises that are demonstrating exceptional progress based on the Program’s Standard Performance Metrics qualify for various grant funds
- Technical Assistance through hand-holding at the initial phases of the program
- Securing domestic and international markets for participating enterprises as well as linking them with global value chains
- Recruitment and Registration of Business Owners
- Mandatory Orientation and Induction of the Successfully Registered Business Owners
- Clustering and Aggregation of Registered Businesses
- Provision of Technical Assistance at both firm and cluster level
- Injection of Financial Capital of Businesses that have attained some level of progress based on the preset framework
- Transition or Exit at an appropriate time and state