Nigeria: Report Reveals Access to Capital, Others As Challenges Facing Entrepreneurs

29 July 2015

A report has revealed that obtaining the necessary seed capital is among the major challenges facing entrepreneurs in Africa. Also, only three per cent of those surveyed had a commercial bank loan, while 69 per cent used personal savings to finance their business.

The study was released by the research and policy arm of the Tony Elumelu Foundation (TED) - the Africapitalism Institute, at the sixth Global Entrepreneurship Summit in Kenya where President Barack Obama gave the keynote address.

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