31/08/2026
AFRICAN TALKS COMMENTARY | ARE WE TOO RISK AVERSE?
One thing that caught African Talks from the Growth Well podcast with Dr. Keith Jefferis was his question:
“Are we too risk-averse?”
That question stayed with us.
If Africa were less risk-averse, what would we see?
Perhaps we would see more entrepreneurship but more importantly, we would see entrepreneurship treated as an industry to understand, build and invest in, rather than a last resort when employment is unavailable.
We often tell young people to “be entrepreneurs,” but do we really teach them how businesses become industries, how markets work, how capital moves, how governments create enabling environments, and how businesses contribute to national development?
And perhaps we should ask the same question of government.
Are governments sometimes too risk-averse?
We speak constantly about GDP, the balance of payments, exports, imports, unemployment and economic growth. But can governments design reforms that create more winners than losers — reforms that make it easier to produce more, sell more, export more and build competitive industries?
Government cannot do everything. But government can create the environment in which the private sector can do more.
And this brings us to business.
Can the private sector contribute to economic development without simply asking what government can give them or how much tax they can avoid?
What if contribution meant:
• Building industries
• Developing bankable projects
• Solving real problems
• Creating productive enterprises
• Increasing local production
• Building export capacity
• Developing skills and technology
• Creating jobs through sustainable businesses
• Connecting African businesses to African and global markets
Perhaps the bigger question is not simply:
“Are Africans too risk-averse?”
Perhaps it is:
“Are we willing to take calculated risks as governments, businesses and citizens to build economies that produce and sell more?”
Africa does not only need more entrepreneurs.
Africa needs an entrepreneurial economic system.
That means governments willing to reform, businesses willing to build, investors willing to finance, and citizens willing to understand their role in economic development.
Watch the full Podcast below:
https://youtu.be/Lk77RBoizD4?si=q_5G5GJGYmYTlIi0
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