306
11 Green Entrepreneurship
ing in Green marketing instead of Green innovations. Green marketing is the
creation of a Green image without significant change in the business processes.
Many scholars use the terms eco-entrepreneurship, sustainable entrepreneurship,
and Green entrepreneurship interchangeably. There are slight differences in the
terms, but they have numerous similarities. It is difficult imagining that Green
businesses can only be sustainable from an environmental perspective without being
economically and socially sustainable since it relies on the relationship between all
the dimensions. This chapter seeks to encourage a new generation of entrepreneurs
in sub-Saharan Africa who can identify and tap into Green business opportunities.
The viewpoints of developing and developed states on Green entrepreneurship often
diverge because of conflicting interests and pending concerns. First, there is concern
that developed nations can use the promotion of a Greener economy as a new
opportunity or excuse for imposing conditions and protectionism. There is a need to,
therefore, reduce the risk that it is not used as another vehicle for developed states
to repackage their interests in the pretense of sustainable economic development.
Second, there is limited development of Green commodities that can meet the needs
of poor consumers. Therefore, it appears that Green entrepreneurship involves the
production of expensive Green products that only benefit consumers in developed
nations. Third, the majority of funding for Green entrepreneurship is obtained from
international donors. There may be a problem when these donors withdraw the
funding. Fourth, despite niche markets contributing to sustainable production and
consumption, the global transformation towards a Green economy may stall unless
green products reach consumers. This chapter addresses this gap by examining the
way sub-Saharan Africa can ensure that models deployed in welfare economics
consider positive externalities that Green entrepreneurship generates.
In Africa, policymakers have embraced economic transformation as well as
industrialization as ways for accelerating inclusive growth. They also acknowledge
the importance of economic transformation for the delivery of Green growth.
The perception is that Green growth will protect the endangered African natural
environment in ways that could minimize the welfare of generations. Entrepreneurs’
activities determine Green growth and economic transformation through innovations and risk-taking. Consequently, fostering entrepreneurship is a major policy
objective for many African states. Currently, Africa is already facing the negative
impacts of environmental deterioration on numerous fronts, including climate
change. The rapid growth of the population and land use contributes to degradation
and deforestation, aggravates water scarcity, and damages fragile ecosystems. The
increased environmental problems and high unemployment rates in sub-Saharan
Africa are a concern for many policymakers across the region. However, they can
also be perceived as an opportunity for the development of Green entrepreneurship
across the region. Intense adoption of Green entrepreneurship would be instrumental
in enhancing economic transformation and increasing the availability of jobs.
However, there is a need to define and understand the fundamental concepts
associated with Green entrepreneurship.
11 Green Entrepreneurship
ing in Green marketing instead of Green innovations. Green marketing is the
creation of a Green image without significant change in the business processes.
Many scholars use the terms eco-entrepreneurship, sustainable entrepreneurship,
and Green entrepreneurship interchangeably. There are slight differences in the
terms, but they have numerous similarities. It is difficult imagining that Green
businesses can only be sustainable from an environmental perspective without being
economically and socially sustainable since it relies on the relationship between all
the dimensions. This chapter seeks to encourage a new generation of entrepreneurs
in sub-Saharan Africa who can identify and tap into Green business opportunities.
The viewpoints of developing and developed states on Green entrepreneurship often
diverge because of conflicting interests and pending concerns. First, there is concern
that developed nations can use the promotion of a Greener economy as a new
opportunity or excuse for imposing conditions and protectionism. There is a need to,
therefore, reduce the risk that it is not used as another vehicle for developed states
to repackage their interests in the pretense of sustainable economic development.
Second, there is limited development of Green commodities that can meet the needs
of poor consumers. Therefore, it appears that Green entrepreneurship involves the
production of expensive Green products that only benefit consumers in developed
nations. Third, the majority of funding for Green entrepreneurship is obtained from
international donors. There may be a problem when these donors withdraw the
funding. Fourth, despite niche markets contributing to sustainable production and
consumption, the global transformation towards a Green economy may stall unless
green products reach consumers. This chapter addresses this gap by examining the
way sub-Saharan Africa can ensure that models deployed in welfare economics
consider positive externalities that Green entrepreneurship generates.
In Africa, policymakers have embraced economic transformation as well as
industrialization as ways for accelerating inclusive growth. They also acknowledge
the importance of economic transformation for the delivery of Green growth.
The perception is that Green growth will protect the endangered African natural
environment in ways that could minimize the welfare of generations. Entrepreneurs’
activities determine Green growth and economic transformation through innovations and risk-taking. Consequently, fostering entrepreneurship is a major policy
objective for many African states. Currently, Africa is already facing the negative
impacts of environmental deterioration on numerous fronts, including climate
change. The rapid growth of the population and land use contributes to degradation
and deforestation, aggravates water scarcity, and damages fragile ecosystems. The
increased environmental problems and high unemployment rates in sub-Saharan
Africa are a concern for many policymakers across the region. However, they can
also be perceived as an opportunity for the development of Green entrepreneurship
across the region. Intense adoption of Green entrepreneurship would be instrumental
in enhancing economic transformation and increasing the availability of jobs.
However, there is a need to define and understand the fundamental concepts
associated with Green entrepreneurship.