Mastergp
Verified member
Well they are many reasons why many private business are being establish in Africa, or to be precise in western Africa and some of his reasons include the following :
Type of economic system:
The type of economic system adopted by the government determine the the nature of economic activities that will take place in that country, for example in my country Nigeria has a free economy in which private individuals are allowed to participate in economy activities.
High level of efficiency:
The private enterprises are know to be more efficient in management than the public enterprise and these account for their large number in the economy.
Establishment of individuals estates:
The established of individual estates by government also encourages the proliferation of private enterprises in many wet private enterprises in many west African countries.
Favorable legal environment :
The enabling laws which govern the setting up of private enterprises are quite favourable,. This makes is easy and interesting for many entrepreneur to go into private business.
Type of economic system:
The type of economic system adopted by the government determine the the nature of economic activities that will take place in that country, for example in my country Nigeria has a free economy in which private individuals are allowed to participate in economy activities.
High level of efficiency:
The private enterprises are know to be more efficient in management than the public enterprise and these account for their large number in the economy.
Establishment of individuals estates:
The established of individual estates by government also encourages the proliferation of private enterprises in many wet private enterprises in many west African countries.
Favorable legal environment :
The enabling laws which govern the setting up of private enterprises are quite favourable,. This makes is easy and interesting for many entrepreneur to go into private business.
