The economic future of West Africa depends on transforming ambitions into sustainable livelihoods. For decades, opportunities have been viewed through a narrow lens: studying, obtaining degrees, finding good jobs, and building careers. While these aspirations are legitimate, they cannot be the only path prepared for populations. The region is young, ambitious, and increasingly connected, with millions of young people entering the workforce each year with different expectations.
The formal economy cannot absorb all who wish to participate. According to the World Bank, six million young people enter the workforce annually in West and Central Africa, while only about half a million jobs are created. The question is not just how to create more jobs but also how to multiply legitimate and responsible pathways for individuals to participate in the economy. Economic participation goes beyond salaried employment, requiring a broad definition of entrepreneurship.
A healthy economy needs various sectors, including small traders, independent professionals, farmers, creators, artisans, technological entrepreneurs, family businesses, consultants, and community service providers. Many West Africans already earn income from these activities, but for some, it is a deliberate choice, while for others, it reflects a lack of alternatives. The priority is to help individuals transition from informal and precarious economic activities to more productive, qualified, and secure participation.
This requires a broader definition of entrepreneurship, starting with identifying needs, proposing products or services, finding clients, managing revenue and expenses, and building something sustainable. Access to clients, suitable financing, and concrete support determines if an activity can become a sustainable source of income. The World Bank suggests that more predictable trade policies aligned with the African Continental Free Trade Area could help small businesses access larger markets.
Expanding access to entrepreneurship must be done responsibly, without lowering requirements. As more people seek online ways to generate supplementary income, it is crucial to distinguish between genuine economic opportunities and unrealistic promises. No legitimate form of entrepreneurship guarantees success, and income depends on multiple factors, including effort, skills, demand, competition, experience, and timing.
Governments, businesses, civil society, and law enforcement authorities have a common interest in creating an environment conducive to the development of legitimate opportunities while making it harder to implement fraudulent activities. Skills are just as important as capital, and entrepreneurs need to understand client needs, communicate effectively, manage cash flow, use digital tools, negotiate, solve problems, and build trust.
West Africa's economic participation can be enhanced by developing individuals with solid economic skills, allowing them to transition between salaried employment, entrepreneurship, and independent work. Women, in particular, need pathways adapted to their reality, with unequal access to financing, networks, technology, training, and time limiting their economic potential. Flexible economic models can help expand participation, especially among young women, with Senegal's female employment rate for 15- to 29-year-olds at only 22.5% in 2022.
Key points
- A broader definition of entrepreneurship is necessary to encompass various economic activities beyond salaried employment.
- Expanding access to entrepreneurship must be done responsibly to avoid exploitation.
- Skills development is crucial for individuals to participate in the economy and transition between different types of work.
