Magatte, you are saying we can overhaul the system to make things better for businesses and employees. Do you have a plan for that? Forgive me. You have probably written about this elsewhere. Would you direct me? Or could you name a couple of steps that are foremost? Thank you.
Absolutely—and great question! Most reformers have (understandably) tried changing burdensome regulations bit by bit, but that takes forever. By the time they’re done cleaning up one bad set of business laws, another set pops up. Not to mention how many vested interests they run into.
My solution is to use Startup Cities to start fresh. Once we create a successful business environment where entrepreneurs can thrive, my hope is that other cities (and countries) will follow suit because they won't want to miss out on all the benefits.
I've written about Startup Cities in the following posts. But I have a lot more to say about them, and you'll hear me talk about them more in the future too.
I cannot tell you how happy reading this makes me. On a feeling level, I am able to verify it is true.
Two questions when you have a moment. In one of the linked posts you write: “We can create a legal system that’s more friendly to entrepreneurs and that allows them to thrive.” Is the legal system specific to the city, and will it basically snap into place when the time is right? Or do you expect resistance? Thank you.
Thanks so much for your support! The commercial code will be specific to the city, and we're working with the approval of the national government, so there should be no resistance.
What’s perplexing is that there is talk coming from Africans that the west should be doing business investment on the continent. So many great opportunities are being missed to profit allegedly and to some extent even an implication of a moral obligation to help with economic devpt, via business instead of aid. But this is the reality, so why would anyone do that
Yes, I think African entrepreneurs (and more broadly, African economies) miss out on a lot of opportunities because of the barriers around business. That's why my goal is to change the situation by creating better business environments first. Investment will follow.
The way I want to do that is by creating Startup Cities, which will promote entrepreneurship through freer commercial laws. Those will be Africa's breakthrough financial centers, and their success will create changes throughout the whole system.
I think it’s a great idea to create more micro zones that you can market and develop trust as secure places to invest and build. I think the idea of Africa as monolithic isn’t helping the cause. I’ll look forward to seeing the work you are doing.
Magatte, you are saying we can overhaul the system to make things better for businesses and employees. Do you have a plan for that? Forgive me. You have probably written about this elsewhere. Would you direct me? Or could you name a couple of steps that are foremost? Thank you.
Absolutely—and great question! Most reformers have (understandably) tried changing burdensome regulations bit by bit, but that takes forever. By the time they’re done cleaning up one bad set of business laws, another set pops up. Not to mention how many vested interests they run into.
My solution is to use Startup Cities to start fresh. Once we create a successful business environment where entrepreneurs can thrive, my hope is that other cities (and countries) will follow suit because they won't want to miss out on all the benefits.
I've written about Startup Cities in the following posts. But I have a lot more to say about them, and you'll hear me talk about them more in the future too.
https://magatte.substack.com/p/why-africa-needs-startup-cities
https://magatte.substack.com/p/here-comes-africa
https://magatte.substack.com/p/4-keys-to-making-africa-insanely
I cannot tell you how happy reading this makes me. On a feeling level, I am able to verify it is true.
Two questions when you have a moment. In one of the linked posts you write: “We can create a legal system that’s more friendly to entrepreneurs and that allows them to thrive.” Is the legal system specific to the city, and will it basically snap into place when the time is right? Or do you expect resistance? Thank you.
Thanks so much for your support! The commercial code will be specific to the city, and we're working with the approval of the national government, so there should be no resistance.
What’s perplexing is that there is talk coming from Africans that the west should be doing business investment on the continent. So many great opportunities are being missed to profit allegedly and to some extent even an implication of a moral obligation to help with economic devpt, via business instead of aid. But this is the reality, so why would anyone do that
Yes, I think African entrepreneurs (and more broadly, African economies) miss out on a lot of opportunities because of the barriers around business. That's why my goal is to change the situation by creating better business environments first. Investment will follow.
The way I want to do that is by creating Startup Cities, which will promote entrepreneurship through freer commercial laws. Those will be Africa's breakthrough financial centers, and their success will create changes throughout the whole system.
I think it’s a great idea to create more micro zones that you can market and develop trust as secure places to invest and build. I think the idea of Africa as monolithic isn’t helping the cause. I’ll look forward to seeing the work you are doing.