Keywords: agriculture, agricultural economies, education, training, entrepreneurship, incentives, innovation, multinational corporations, MNCs, partnerships, science and technology policy, small and medium-sized enterprises, SMEs, trade, Africa, economic growth, economic development, domestic capacity
Agriculture, business and development
This paper argues that building effective partnerships between multinational corporations and local Small and Medium-sized Enterprises (SMEs) is essential for stimulating growth in African agricultural economies. Policies that provide incentives for multinational corporations to build domestic capacity are critical to growth. Africa therefore needs to create enabling environments for business development – both domestic and foreign – and bridge the knowledge gap that hinders business operation. Governments should focus on nurturing and unleashing Africa's entrepreneurial potential for development. The paper explores strategies that promote the growth of SMEs, examines the role of multinational corporations and outlines actions for more dynamic engagement of business in development.