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Fortune
Fortune
Tony O. Elumelu

Tony Elumelu: Africa’s young entrepreneurs have great ideas. What they need is capital and business support

During high school in Benin, Constant Ayihounoun was already trying to solve a problem facing farmers around him: how to increase yields without damaging the soil on which their livelihoods depend. He went on to build Agreco, which produces organic fertilizers and biopesticides. Backed by the Tony Elumelu Foundation, Agreco products now benefit more than 100 farmers.

His experience raises a broader question. How many young Africans have promising ideas that never become viable businesses because they cannot raise their first few thousand dollars or get the practical support they need to find customers? How many businesses that could create jobs and improve livelihoods never get the opportunity to grow?

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