By Keith Marsden
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Extra info for African Entrepreneurs: Pioneers of Development (Discussion Paper (International Finance Corporation))
The growing tax burden was a major factor in the decline in competitiveness of Ivorian industry and has encouraged tax evasion, smuggling. 9 A delay in granting a "convention" to the charcoal manufacturing project in Côte d'Ivoire reviewed in this study was a major reason why it had not gotten off the ground. A "convention" would provide a corporate tax holiday and other fiscal incentives that the promoters of the project consider vital to its financial viability. In Kenya, high taxes on packaging are retarding the growth of packaged horticultural exports.
They hire and manage labor forces. They open up markets. They find new combinations of materials, processes, and products. They initiate change and facilitate adjustment in dynamic economies. Yet private entrepreneurship has been downplayed in many African countries over the past 30 years. In part, that occurred because indigenous entrepreneurs were presumed to be scarce and foreign entrepreneurs were distrusted. But the belief was also widespread that entrepreneurial functions could be better performed by the state than by private individuals.
APDF has assisted numerous individuals to realize their entrepreneurial dreams. For example, the general manager of a building society has become the joint-owner of a tobacco and dairy estate in Malawi. A government privatization program created the opportunity. APDF helped to secure. In Côte d'Ivoire. a professor of pharmacology has been able to establish a factory to produce intravenous solutions. In Kenya, the general manager of an investment company is now the managing director and shareholder of a former European-owned tannery that was in the hands of receivers.
African Entrepreneurs: Pioneers of Development (Discussion Paper (International Finance Corporation)) by Keith Marsden