US President Barack Obama told African entrepreneurs in Kenya that they could help counter violent ideologies and drive growth in Africa. He said governments had to help by ensuring the rule of law was upheld and by tackling corruption.
Obama was addressing a Global Entrepreneurship Summit at the start of the first presidential visit to his father’s homeland. Security was on top of the agenda in talks with President Uhuru Kenyatta, but Obama is also keen to increase business ties with Africa, where China overtook the US as the continent’s biggest trade partner in 2009.
“Africa is on the move. Africa is one of the fastest growing regions in the world,” Obama told the conference, where he was greeted by applause when he began with the words “Jambo”, the Swahili for “hello”.
“Entrepreneurship offers a positive alternative to the ideologies of violence and division that can all too often fill the void when young people don’t see a future for themselves,” he added.
He said government had a vital role on issues such as establishing the rule of law and curbing corruption, citing two issues often cited by businesses as major obstacles. He said more had to be done to help new firms secure capital.
An array of technology and other companies have started up in recent years, in Africa, to shift the continent away from a traditional focus of commodity exports, but entrepreneurs often complain they cannot find affordable capital.
“Africa is open for business,” Kenyatta said in his opening remarks in which he welcomed the US president. “It is the time for a new generation of Africans to promote inclusive prosperity.”
