Dotun Famoriyo, an active serial volunteer, a Nigerian published writer, researcher and activist whose work revolve on liberty, policy issues, development and interpersonal growth has revealed how Africa can be re-branded with Entrepreneurship.
Dotun who is currently volunteer for Students for Liberty, the largest pro-liberty organization in the world with a mission to educate, develop, and empower the next generation of leaders of liberty, When asked of his nexus with Students for Liberty Organization, he said “We are thoroughly trained and professional. We have a high level of understanding of the ideas of liberty and can clearly and effectively explain the economic and philosophical rationale for the issues we stand for.
“I started as a chapter member in 2015 in University. I later became a Local Coordinator in 2016 after which I became a National Coordinator in 2019, and just of recent, I became a Regional Coordinator.”
Explaining how the organisation has been building his professional and personal branding, he said the organization has been serving as a way to go because it personally goes in line with his lift off.
He went on saying that in Africa alone, the organization is present in 31 countries and still counting.
However, apart from being a volunteer, Mr. Dotun explained that he had a great taste for entrepreneurship. While explaining various ways how Africa can progress, he said he wants to see Africa unleashing its capacity to protect the environment and establish sustainable development which is constrained by the continent’s history, culture, ecology, education, institutions, policies, politics, legal framework and level of technology.
According to him: “Yet, Africa must improve the quality of life of its people through maintenance of a cleaner environment, higher incomes, better education, improved nutrition, better health care, equal opportunity, greater individual freedom, improved security and richer cultural life. These can be achieved by re-organising the vast resources and harnessing them primarily for the benefit of the majority of the people.”
He believes without entrepreneurship, it will be hard for Africa to enter a growth dynamic and as such, he proposes three different interventions that can boost investments for the benefit of entrepreneurship, which in turn would transform its image and brighten its future.
He said the first and foremost is the urgent need for Africa to boost the spirit of businesses, reiterating that this would build opportunities.
“The first and most effective way of investing in Africa’s entrepreneurship is to boost the spirit of business undertaking – so that opportunities become phenomenal achievements.
“Secondly, countries in Africa should put into place policies that enable and nurture private companies. This should include facilitating investments, and using public markets as a catalytic and strategic force, targeting SMEs as a priority, as they represent 90% of Africa’s private companies and provide 50% of all jobs.”
Mr. Dotun, while explaining the third way how Africa can progress through entrepreneurship, offered advice that Africa need to reinvent the way in which businesses are being funded. He said although the banking sector is soaring, it remains fragmented and somewhat disconnected from companies’ increasing financing needs.
“We must therefore develop another form of financial intermediation that would reconcile banking with finance, and create a combined culture of risk-taking and profitability.” He urged.