11.8 Solutions and Recommendations
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11.7.5 Limited Policy Support
Many nations lack policies that support Green businesses. Due to the vulnerability of
these businesses, it becomes difficult for them to thrive as they are subjected to the
same policies as those governing non-Green businesses. Start-ups in sub-Saharan
Africa grapple with many challenges, but many of them are related to education,
finance, and support systems.
11.8 Solutions and Recommendations
11.8.1 Recognize and Promote Green Businesses
There is a need for the government, investors, and other financiers to focus on value
for stakeholders by adequately recognizing the significance of Green businesses in
sub-Saharan Africa. Policymakers should also focus on the development of policy
conducive to the success of Green businesses as they spearhead the transition to
local economic development, tackle environmental and social challenges as well as
inspire other small and medium enterprises to make progress (Koester 2016).
Identify two policies in Nigeria that can help speed this up.
11.8.2 Provide Training to Develop Green Business Initiatives
Green enterprises need support to efficiently contribute to the Green economy and
become sustainable as they scale up. There is also a need for policies to focus on
women-led Green start-ups that are underrepresented despite being important for
driving growth, particularly in agricultural economies.
11.8.3 Facilitate Access to Finance
Finance is among the significant challenges for start-ups. Policymakers should
negotiate with financial institutions to ensure that they develop approaches and
products that consider the situations of Green Small and Medium-sized Enterprises.
An example is Hivo’s Green Entrepreneurship program that has played a crucial
role by collaborating with government agencies, local incubators, business support
organizations, and investors. Through this collaboration, the program supports
325
11.7.5 Limited Policy Support
Many nations lack policies that support Green businesses. Due to the vulnerability of
these businesses, it becomes difficult for them to thrive as they are subjected to the
same policies as those governing non-Green businesses. Start-ups in sub-Saharan
Africa grapple with many challenges, but many of them are related to education,
finance, and support systems.
11.8 Solutions and Recommendations
11.8.1 Recognize and Promote Green Businesses
There is a need for the government, investors, and other financiers to focus on value
for stakeholders by adequately recognizing the significance of Green businesses in
sub-Saharan Africa. Policymakers should also focus on the development of policy
conducive to the success of Green businesses as they spearhead the transition to
local economic development, tackle environmental and social challenges as well as
inspire other small and medium enterprises to make progress (Koester 2016).
Identify two policies in Nigeria that can help speed this up.
11.8.2 Provide Training to Develop Green Business Initiatives
Green enterprises need support to efficiently contribute to the Green economy and
become sustainable as they scale up. There is also a need for policies to focus on
women-led Green start-ups that are underrepresented despite being important for
driving growth, particularly in agricultural economies.
11.8.3 Facilitate Access to Finance
Finance is among the significant challenges for start-ups. Policymakers should
negotiate with financial institutions to ensure that they develop approaches and
products that consider the situations of Green Small and Medium-sized Enterprises.
An example is Hivo’s Green Entrepreneurship program that has played a crucial
role by collaborating with government agencies, local incubators, business support
organizations, and investors. Through this collaboration, the program supports