Faced with record unemployment of 32.8%, the South African government, supported by its partners, has launched a $53 million fund to stimulate technological entrepreneurship within universities. This initiative follows on from the TIMBUKTOO initiative presented at DAVOS, aimed at countering the effects of business relocation and productivity challenges.
Investment in human capital is fundamental to economic development, and is one of the key pillars for achieving the Sustainable Development Goals.
Building infrastructure in Africa is hampered by the complexity of raising funds from international players and development banks. Fluctuations in the international monetary system and reductions in public aid from developed countries further complicate the situation.