Nairobi – United States President Barack Obama has pledged support for women and young entrepreneurs in Africa who face obstacles when trying to start businesses.
Speaking on Saturday at the Global Entrepreneurship Summit (GES) in Nairobi, President Obama hailed Africa's enormous potential.
He revealed that his government and leading corporations will finance the establishment of new training and mentorship centres for African women entrepreneurs. He said there are 1 600 women entrepreneurs in Africa, and the US government is keen on helping increase this number.
President Obama said the US government has opened two women entrepreneurship centres in Kenya and Zambia, with a third one to be opened in Mali later this year, to help step up support for women entrepreneurs.
He also pledged US$1 billion to support entrepreneurship projects worldwide and a large share of the money will go to women and youth in order to leverage the playing ground for all.
He challenged governments to eliminate regulatory barriers that undermined growth of local enterprises.
"Governments are obliged to facilitate growth of businesses. They should reform the policy and regulatory environment to enhance competitiveness," said President Obama.
Kenya became the first country in Sub-Saharan Africa to host the US funded annual global entrepreneurship summit attended by delegates from 120 countries.
Patrick Maluki, a Diplomacy Scholar at the University of Nairobi, opined that while President Obama's visit will be rich in symbolism, it might not unleash immediate benefits to ordinary Kenyans.
"We should allow realism to prevail since President Obama will not solve our myriad problems instantly," Maluki said.
President Obama’s visit to Kenya, the birthplace of his father, will wrap up on Sunday. – SAnews.gov.za-Xinhua
