Recognizing Small Businesses in Africa

The Pioneers of Prosperity Africa Awards honors a group that represents a new wave of dynamic entrepreneurs shaping the continent's future
Tokunbo Talabi, president of Superflux, exults over his receipt of the grand prize in the annual Pioneers of Prosperity Africa Awards in Kigali, Rwanda on Nov. 19.

Times are tough for small and midsize businesses. Around the world, consumer spending is down, loans are expensive, raw materials cost more than they did a few years ago, and investors are especially wary of taking chances on unproven enterprises. But for emerging businesses in Africa, the outlook is relatively bright. Entrepreneurs see big opportunities and little competition—notwithstanding the substantial challenges of operating in developing markets and the ripple effects of the financial crisis.

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