A $500,000 grant was awarded to the
Mercatus Center at George Mason University and its partners, the South Africa-based
Free Market Foundation and Londons
Institute of Economic Affairs for the groups recently launched joint initiative Enterprise Africa!
Enterprise Africa! field teams will work with entrepreneurs in some of the poorest countries in the worldMauritius, Namibia, Rwanda, Kenya, Botswana, and Tanzaniato understand how poverty can be fought on the local level. Successful entrepreneurs in these countries have developed their own workable solutions to problems of healthcare, political corruption, famine and education.
The western worlds failure to spur development in Africa demonstrates that poverty is not going to be eliminated by ideas born of western elites at conferences on wealth redistribution, says project director Brian Hooks, Enterprise Africa! will demonstrate how entrepreneurs are erasing poverty locally and share their successes with other entrepreneurs, governments, and international development groups who clearly need models that work.
The focus of the project will be the entrepreneur because entrepreneurship is the true engine of economic growth, commented IEA Director General John Blundell, The John Templeton Foundation is providing seed funding for a long-term and sustained effort which aims to have a profound impact on the direction of economic development in Africa and the rest of the world.
For more information on the project, visit
Enterprise Africa! website.