15 November 2012

Africa: Europe Remains Africa's Favourite Trade Partner

AFRICAN businessmen see Europe as more profitable to trade with despite its current economic woes and their own continent as the least lucrative according to a new survey released yesterday.

The survey by the Association of Business Executives also indicates that most business students- 99 per cent- do not see foreign aid as the answer to the job crisis affecting Africa.

"Almost half (47 per cent) of African business students said that to create jobs Africa must focus on improving support for entrepreneurs," said ABE in a statement. "The second most important need was for education systems that were geared to skills that match available jobs."

East Asia, which has been increasing trade interest in Africa recently, was voted as the second most lucrative region to do business with in the survey, with 24 per cent of votes from the 12,000 entrepreneurs polled in the survey.

Also in the survey report, not many African business students were keen on starting businesses immediately after completion of their courses.

Though 95 per cent said they want to start a business, only one is seven wanted to do so within 12 months while the others preferred to do it within a time frame of five years. And of the people they look up to, Bill Gates was the most admired person by African entrepreneurs.

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