Africa has many entrepreneurial people with the capacity to be successful in business, but access to financing for small and medium enterprises (SMEs) remains a major challenge. So said Nigerian-born Aliko Dangote, believed to be the continent’s richest man, today during a session titled ‘Africa’s Next Billion’, at the World Economic Forum in Davos, Switzerland. He explained that while Africa offers a large enough market for SMEs, borrowing costs are generally too high. “If you are going to borrow money at 20% and above, it might be very, very tough…
Read MoreWhat Africa’s Billionaire Aliko Dangote told the World Economic Forum in Davos
