African billionaire launches entrepreneurship index

‘Africa’s youngest billionaire’, Ashish J Thakkar, has launched a tool to assess the fertility of entrepreneurial breeding grounds in 85 countries. The index assesses countries and their performance on how well they help entrepreneurs thrive.

The Ashish J Thakkar Global Entrepreneurship Index, launched through Thakkar’s ‘Mara Foundation’, measures entrepreneurial environments around the world. It evaluates the countries’ performance in policy, infrastructure, education, entrepreneurial environment and finance.

Ventures Africa reports that the entrepreneur hopes that his Index helps boost business development, specifically in Africa. The young business millionaire wants to address the lack of understanding of entrepreneurial environments around the world. For example, opening a business in Nigeria can take up to three months, and two days in many western European countries. Greater ease of doing business is crucial to the development of economies, in Africa and anywhere else in the world.

To Ashish J Thakkar, the only solution to unemployment and poverty is entrepreneurship. But for entrepreneurship to thrive, a viable entrepreneurship ecosystem must be created to make businesses function well.

The businessman sees a worrying disconnect between policy makers and young business leaders. The Ashish J Thakkar Global Entrepreneurship Index is intended to become a useful tool for the public and private sectors and entrepreneurs to help bridge that knowledge gap.

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