In his advocacy for Africa’s untapped potential, Jack Ma, co-founder of Alibaba Group, one of the world’s largest e-commerce companies, once highlighted the continent as the ultimate business destination.
His passion for the continent is also expressed through his belief that the future of Africa will be built by its entrepreneurs and hungry dreamers who view problems as opportunities.
The Chinese billionaire also noted that Africa has to adopt entrepreneurship, e-governments, education, and e-infrastructure. In this brief exploration, we will delve into five reasons why Ma named Africa as a prime investment hub.
Jack Ma who described Africa as an ultimate business destination said although the continent has plenty of problems, it is also full of opportunities. The former high-flying billionaire also called on innovators to look at challenges like lack of infrastructure and poor logistics as opportunities.
Africa possesses the richest assets that the whole world undermine
Another reason why Jack Ma named Africa as the ultimate business destination is that they have the best wealth of human beings. He said, “Africa has beautiful Air, blue sky and nature and wild animals. These are the richest assets that the whole world undermines.”
Africa is filled with young people
Jack Ma also noted that Africa is full of young people, who are super first-class entrepreneurs. He said, “When you listen to African entrepreneurs talk, I say they are the super first-class in the world. The way they say they dream, their beliefs, action and passion… This is amazing. This land is full of chance, opportunities and dreams.”
This is why he believes so much in the continent. Jack Ma who predicted that in 10 to 20 years Africa will have “10 or 20 Alibaba companies” called on African governments to create tax policies that favour small businesses and startups.
Africa is a very simple country
The former English teacher admired the simplicity obtainable on the African continent. In his words, “Africa is very simple, people sit comfortably. If you have been to Europe, you know how complicated it is. They worry too much.” This is another reason why he said Africa is a great business destination. His Netpreneur Prize-named for empowering a new generation of entrepreneurs, and focusing on small business growth, grassroots innovation and women founders can be described as a reflection of his appreciation for the simplicity of the continent.
There is nothing to destroy
The Alibaba co-founder further noted that there is nothing to destroy on the continent. Unlike Europe where they worry so much about laws and security, Jack Ma says there is nothing to destroy in Africa. This factor could be one reason why he urged entrepreneurs to ask themselves three questions. `“What do you have, what do you want, and what will you give up.”
He explained that these questions will help them focus on their businesses and solutions.
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